0000093859 2011-09-29 2012-09-26 0000093859 2012-09-26 0000093859 2011-09-28 0000093859 2010-09-30 2011-09-28 0000093859 2009-10-01 2010-09-29 0000093859 2010-09-29 0000093859 2009-09-30 0000093859 us-gaap:CommonStockMember 2009-10-01 2010-09-29 0000093859 us-gaap:CommonStockMember 2009-09-30 0000093859 us-gaap:CommonStockMember 2010-09-29 0000093859 us-gaap:CommonStockMember 2011-09-28 0000093859 us-gaap:CommonStockMember 2012-09-26 0000093859 us-gaap:AdditionalPaidInCapitalMember 2009-10-01 2010-09-29 0000093859 us-gaap:AdditionalPaidInCapitalMember 2010-09-30 2011-09-28 0000093859 us-gaap:AdditionalPaidInCapitalMember 2011-09-29 2012-09-26 0000093859 us-gaap:AdditionalPaidInCapitalMember 2009-09-30 0000093859 us-gaap:AdditionalPaidInCapitalMember 2010-09-29 0000093859 us-gaap:AdditionalPaidInCapitalMember 2011-09-28 0000093859 us-gaap:AdditionalPaidInCapitalMember 2012-09-26 0000093859 us-gaap:RetainedEarningsMember 2009-10-01 2010-09-29 0000093859 us-gaap:RetainedEarningsMember 2010-09-30 2011-09-28 0000093859 us-gaap:RetainedEarningsMember 2011-09-29 2012-09-26 0000093859 us-gaap:RetainedEarningsMember 2009-09-30 0000093859 us-gaap:RetainedEarningsMember 2010-09-29 0000093859 us-gaap:RetainedEarningsMember 2011-09-28 0000093859 us-gaap:RetainedEarningsMember 2012-09-26 0000093859 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2009-10-01 2010-09-29 0000093859 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2010-09-30 2011-09-28 0000093859 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2011-09-29 2012-09-26 0000093859 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2009-09-30 0000093859 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2010-09-29 0000093859 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2011-09-28 0000093859 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2012-09-26 0000093859 us-gaap:TreasuryStockMember 2009-10-01 2010-09-29 0000093859 us-gaap:TreasuryStockMember 2010-09-30 2011-09-28 0000093859 us-gaap:TreasuryStockMember 2011-09-29 2012-09-26 0000093859 us-gaap:TreasuryStockMember 2009-09-30 0000093859 us-gaap:TreasuryStockMember 2010-09-29 0000093859 us-gaap:TreasuryStockMember 2011-09-28 0000093859 us-gaap:TreasuryStockMember 2012-09-26 0000093859 2010-12-31 0000093859 BH:RightToOperateMember 2012-09-26 0000093859 BH:RightToOperateMember 2011-09-28 0000093859 us-gaap:FranchiseRightsMember 2012-09-26 0000093859 us-gaap:FranchiseRightsMember 2011-09-28 0000093859 us-gaap:OtherIntangibleAssetsMember 2012-09-26 0000093859 us-gaap:OtherIntangibleAssetsMember 2011-09-28 0000093859 us-gaap:UnclassifiedIndefinitelivedIntangibleAssetsMember 2012-09-26 0000093859 us-gaap:UnclassifiedIndefinitelivedIntangibleAssetsMember 2011-09-28 0000093859 us-gaap:ObligationsMember 2012-09-26 0000093859 us-gaap:CapitalLeaseObligationsMember 2012-09-26 0000093859 us-gaap:PropertySubjectToOperatingLeaseMember 2012-09-26 0000093859 BH:NonOperatingPropertyMember 2012-09-26 0000093859 us-gaap:BuildingMember 2012-09-26 0000093859 us-gaap:LandMember 2012-09-26 0000093859 us-gaap:LeaseholdsAndLeaseholdImprovementsMember 2012-09-26 0000093859 us-gaap:EquipmentMember 2012-09-26 0000093859 BH:ResturantRetailMember us-gaap:FairValueInputsLevel1Member 2012-09-26 0000093859 BH:ResturantRetailMember us-gaap:FairValueInputsLevel1Member 2011-09-28 0000093859 BH:OthersMember us-gaap:FairValueInputsLevel1Member 2012-09-26 0000093859 BH:OthersMember us-gaap:FairValueInputsLevel1Member 2011-09-28 0000093859 BH:NonQualifiedDeferredCompensationPlanInvestmentsMember us-gaap:FairValueInputsLevel1Member 2012-09-26 0000093859 BH:NonQualifiedDeferredCompensationPlanInvestmentsMember us-gaap:FairValueInputsLevel1Member 2011-09-28 0000093859 us-gaap:FairValueInputsLevel1Member 2012-09-26 0000093859 us-gaap:FairValueInputsLevel1Member 2011-09-28 0000093859 us-gaap:FairValueInputsLevel2Member 2012-09-26 0000093859 us-gaap:FairValueInputsLevel2Member 2011-09-28 0000093859 us-gaap:FairValueInputsLevel3Member 2012-09-26 0000093859 us-gaap:FairValueInputsLevel3Member 2011-09-28 0000093859 BH:SteaknShakeMember 2009-10-01 2010-09-29 0000093859 BH:SteaknShakeMember 2011-09-29 2012-09-26 0000093859 BH:SteaknShakeMember 2010-09-30 2011-09-28 0000093859 BH:WesternMember 2009-10-01 2010-09-29 0000093859 BH:WesternMember 2011-09-29 2012-09-26 0000093859 BH:WesternMember 2010-09-30 2011-09-28 0000093859 BH:TotalRestaurantOperationsMember 2009-10-01 2010-09-29 0000093859 BH:TotalRestaurantOperationsMember 2011-09-29 2012-09-26 0000093859 BH:TotalRestaurantOperationsMember 2010-09-30 2011-09-28 0000093859 BH:ManagementFeesMember 2009-10-01 2010-09-29 0000093859 BH:ManagementFeesMember 2011-09-29 2012-09-26 0000093859 BH:ManagementFeesMember 2010-09-30 2011-09-28 0000093859 BH:ConsolidatedAffiliatedPartnershipsMember 2009-10-01 2010-09-29 0000093859 BH:ConsolidatedAffiliatedPartnershipsMember 2011-09-29 2012-09-26 0000093859 BH:ConsolidatedAffiliatedPartnershipsMember 2010-09-30 2011-09-28 0000093859 BH:TotalInvestmentManagementOperationsMember 2009-10-01 2010-09-29 0000093859 BH:TotalInvestmentManagementOperationsMember 2011-09-29 2012-09-26 0000093859 BH:TotalInvestmentManagementOperationsMember 2010-09-30 2011-09-28 0000093859 BH:TotalRevenueMember 2009-10-01 2010-09-29 0000093859 BH:TotalRevenueMember 2011-09-29 2012-09-26 0000093859 BH:TotalRevenueMember 2010-09-30 2011-09-28 0000093859 BH:RestaurantOperationsMember BH:SteaknShakeMember 2009-10-01 2010-09-29 0000093859 BH:RestaurantOperationsMember BH:SteaknShakeMember 2011-09-29 2012-09-26 0000093859 BH:RestaurantOperationsMember BH:SteaknShakeMember 2010-09-30 2011-09-28 0000093859 BH:RestaurantOperationsMember BH:WesternMember 2009-10-01 2010-09-29 0000093859 BH:RestaurantOperationsMember BH:WesternMember 2011-09-29 2012-09-26 0000093859 BH:RestaurantOperationsMember BH:WesternMember 2010-09-30 2011-09-28 0000093859 BH:RestaurantOperationsMember BH:TotalRestaurantOperationsMember 2009-10-01 2010-09-29 0000093859 BH:RestaurantOperationsMember BH:TotalRestaurantOperationsMember 2011-09-29 2012-09-26 0000093859 BH:RestaurantOperationsMember BH:TotalRestaurantOperationsMember 2010-09-30 2011-09-28 0000093859 BH:InvestmentManagementMember BH:IncentiveFeeMember 2009-10-01 2010-09-29 0000093859 BH:InvestmentManagementMember BH:IncentiveFeeMember 2011-09-29 2012-09-26 0000093859 BH:InvestmentManagementMember BH:IncentiveFeeMember 2010-09-30 2011-09-28 0000093859 BH:InvestmentManagementMember BH:ManagementFeesMember 2009-10-01 2010-09-29 0000093859 BH:InvestmentManagementMember BH:ManagementFeesMember 2011-09-29 2012-09-26 0000093859 BH:InvestmentManagementMember BH:ManagementFeesMember 2010-09-30 2011-09-28 0000093859 BH:InvestmentManagementMember BH:ConsolidatedAffiliatedPartnershipsMember 2009-10-01 2010-09-29 0000093859 BH:InvestmentManagementMember BH:ConsolidatedAffiliatedPartnershipsMember 2011-09-29 2012-09-26 0000093859 BH:InvestmentManagementMember BH:ConsolidatedAffiliatedPartnershipsMember 2010-09-30 2011-09-28 0000093859 BH:InvestmentManagementMember BH:TotalInvestmentManagementOperationsMember 2009-10-01 2010-09-29 0000093859 BH:InvestmentManagementMember BH:TotalInvestmentManagementOperationsMember 2011-09-29 2012-09-26 0000093859 BH:InvestmentManagementMember BH:TotalInvestmentManagementOperationsMember 2010-09-30 2011-09-28 0000093859 us-gaap:CorporateMember us-gaap:CorporateAndOtherMember 2009-10-01 2010-09-29 0000093859 us-gaap:CorporateMember us-gaap:CorporateAndOtherMember 2011-09-29 2012-09-26 0000093859 us-gaap:CorporateMember us-gaap:CorporateAndOtherMember 2010-09-30 2011-09-28 0000093859 us-gaap:CorporateMember BH:InvestmentAndDerivativeGainsLossesMember 2009-10-01 2010-09-29 0000093859 us-gaap:CorporateMember BH:InvestmentAndDerivativeGainsLossesMember 2011-09-29 2012-09-26 0000093859 us-gaap:CorporateMember BH:InvestmentAndDerivativeGainsLossesMember 2010-09-30 2011-09-28 0000093859 us-gaap:CorporateMember BH:TotalCorporateAndOtherMember 2009-10-01 2010-09-29 0000093859 us-gaap:CorporateMember BH:TotalCorporateAndOtherMember 2011-09-29 2012-09-26 0000093859 us-gaap:CorporateMember BH:TotalCorporateAndOtherMember 2010-09-30 2011-09-28 0000093859 BH:ReconciliationOfSegmentsMember us-gaap:ConsolidationEliminationsMember 2009-10-01 2010-09-29 0000093859 BH:ReconciliationOfSegmentsMember us-gaap:ConsolidationEliminationsMember 2011-09-29 2012-09-26 0000093859 BH:ReconciliationOfSegmentsMember us-gaap:ConsolidationEliminationsMember 2010-09-30 2011-09-28 0000093859 BH:ReconciliationOfSegmentsMember us-gaap:InterestExpenseMember 2009-10-01 2010-09-29 0000093859 BH:ReconciliationOfSegmentsMember us-gaap:InterestExpenseMember 2011-09-29 2012-09-26 0000093859 BH:ReconciliationOfSegmentsMember us-gaap:InterestExpenseMember 2010-09-30 2011-09-28 0000093859 BH:SteakNShakeRestaurantOperationsMember 2012-09-26 0000093859 BH:SteakNShakeRestaurantOperationsMember 2011-09-28 0000093859 BH:WesternRestaurantOperationsMember 2012-09-26 0000093859 BH:WesternRestaurantOperationsMember 2011-09-28 0000093859 BH:InvestmentManagementMember 2012-09-26 0000093859 BH:InvestmentManagementMember 2011-09-28 0000093859 us-gaap:CorporateAndOtherMember 2012-09-26 0000093859 us-gaap:CorporateAndOtherMember 2011-09-28 0000093859 BH:ConsolidatedResultsMember 2012-09-26 0000093859 BH:ConsolidatedResultsMember 2011-09-28 0000093859 BH:ReconciliationOfSegmentsMember 2012-09-26 0000093859 BH:ReconciliationOfSegmentsMember 2011-09-28 0000093859 2011-09-29 2011-12-21 0000093859 2010-09-30 2010-12-22 0000093859 2011-12-22 2012-04-11 0000093859 2010-12-23 2011-04-13 0000093859 2012-04-12 2012-07-04 0000093859 2011-04-14 2011-07-06 0000093859 2012-07-05 2012-09-26 0000093859 2011-07-07 2011-09-28 0000093859 BH:RestaurantOperationsSteakNShakeMember 2011-09-29 2012-09-26 0000093859 BH:RestaurantOperationsSteakNShakeMember 2010-09-30 2011-09-28 0000093859 BH:RestaurantOperationsSteakNShakeMember 2009-10-01 2010-09-29 0000093859 BH:RestaurantOperationsWesternMember 2011-09-29 2012-09-26 0000093859 BH:RestaurantOperationsWesternMember 2010-09-30 2011-09-28 0000093859 BH:RestaurantOperationsWesternMember 2009-10-01 2010-09-29 0000093859 BH:InvestmentManagementMember 2011-09-29 2012-09-26 0000093859 BH:InvestmentManagementMember 2010-09-30 2011-09-28 0000093859 BH:InvestmentManagementMember 2009-10-01 2010-09-29 0000093859 us-gaap:CorporateAndOtherMember 2011-09-29 2012-09-26 0000093859 us-gaap:CorporateAndOtherMember 2010-09-30 2011-09-28 0000093859 us-gaap:CorporateAndOtherMember 2009-10-01 2010-09-29 0000093859 us-gaap:ParentCompanyMember 2012-09-26 0000093859 us-gaap:ParentCompanyMember 2011-09-28 0000093859 us-gaap:ConsolidatedEntitiesMember 2012-09-26 0000093859 us-gaap:ConsolidatedEntitiesMember 2011-09-28 0000093859 us-gaap:ConsolidatedEntitiesMember 2011-09-29 2012-09-26 0000093859 us-gaap:ConsolidatedEntitiesMember 2010-09-30 2011-09-28 0000093859 us-gaap:ConsolidatedEntitiesMember 2009-10-01 2010-09-29 0000093859 us-gaap:ConsolidatedEntitiesMember 2010-09-29 0000093859 us-gaap:ConsolidatedEntitiesMember 2009-09-30 0000093859 us-gaap:ParentCompanyMember 2011-09-29 2012-09-26 0000093859 us-gaap:ParentCompanyMember 2010-09-30 2011-09-28 0000093859 us-gaap:ParentCompanyMember 2009-10-01 2010-09-29 0000093859 us-gaap:ParentCompanyMember 2011-09-29 2012-09-26 0000093859 us-gaap:ParentCompanyMember 2010-09-30 2011-09-28 0000093859 us-gaap:ParentCompanyMember 2009-10-01 2010-09-29 0000093859 us-gaap:ParentCompanyMember 2012-09-26 0000093859 us-gaap:ParentCompanyMember 2011-09-28 0000093859 us-gaap:ParentCompanyMember 2010-09-29 0000093859 us-gaap:ParentCompanyMember 2009-09-30 0000093859 2012-12-03 0000093859 2012-04-11 0000093859 BH:PurchaseAllocationMember 2010-04-30 0000093859 BH:WesternSizzlinCorporationPurchaseAllocationMember 2011-09-28 iso4217:USD xbrli:shares iso4217:USD xbrli:shares xbrli:pure BIGLARI HOLDINGS INC. 0000093859 10-K 2012-09-26 false --09-26 No No Yes Accelerated Filer FY 2012 25931000 88004000 60359000 98987000 47563000 51395000 25931000 88004000 38130000 39986000 248494000 114176000 269858000 115321000 27529000 27529000 386622000 288631000 773787000 672860000 5713000 5272000 37497000 8953000 372574000 347930000 52088000 45252000 349125000 279678000 248995000 291861000 757000 756000 756000 756000 143691000 143521000 144569000 143035000 167731000 195825000 230390000 251983000 112000 -1152000 -5468000 43897000 -20430000 -89955000 -90569000 -90546000 349125000 279678000 349125000 279678000 386622000 288631000 773787000 672860000 166390000 158722000 223684000 211277000 175773000 170861000 174360000 168340000 740207000 709200000 673781000 151678000 145690000 211536000 199225000 167884000 157692000 165928000 154098000 697026000 656705000 623764000 10824000 -1942000 -388000 25432000 27279000 28696000 729000 785000 431000 27000 33000 263000 270000 98000 26424000 28361000 29258000 38316000 45622000 41427000 1038000 2157000 2455000 39354000 47779000 43702000 36000 2510000 233000 224000 1775000 5319000 3370000 2008000 5355000 6104000 -2087000 -15990000 -4624000 4024000 4200000 7970000 1937000 -11790000 3346000 -36000 -2510000 -1859000 -10110000 -2811000 14753000 13106000 7667000 8440000 4986000 11151000 3792000 15134000 31198000 47831000 41440000 21593000 34565000 28094000 28094000 34565000 21593000 27257000 31756000 29367000 646000 1354000 1610000 27903000 33110000 30977000 22000 1535000 144000 139000 215000 1321000 1815000 359000 1343000 3489000 -1510000 -9196000 -3099000 2495000 2604000 4941000 985000 -6592000 1842000 -1153000 -6268000 -1743000 8795000 9463000 4528000 5645000 4853000 8676000 3417000 10781000 21593000 34565000 28094000 6.58 7.08 3.39 4.23 3.63 6.49 2.56 8.08 16.15 25.86 19.99 6.60 7.13 3.39 4.25 3.64 6.52 2.56 8.09 16.19 25.99 20.11 7513000 11092000 6061000 58000 18000 1104000 1908000 2589000 8675000 13018000 8650000 624000 661000 2589000 2651000 -685000 3336000 -902000 1352000 -92000 -92000 1352000 -902000 50267000 -5668000 -1172000 -1172000 -5668000 50267000 70958000 30249000 26830000 882000 -239000 921000 1225000 375000 859000 -304000 -614000 23000 -1000 1000 -711000 -711000 -34146000 -34146000 -2393000 673000 673000 -2393000 30808000 3476000 750000 <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Description of Business</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Biglari Holdings Inc. (&#147;Biglari Holdings&#148; or the &#147;Company&#148;) is a diversified holding company engaged in a number of diverse business activities.&#160; The Company is led by Sardar Biglari, Chairman and Chief Executive Officer of Biglari Holdings and its major operating subsidiaries.&#160;The Company&#146;s long-term objective is to maximize per-share intrinsic value of the Company. Our strategy is to reinvest cash generated from our operating subsidiaries into any investments with the objective of achieving high risk-adjusted returns.&#160;&#160;All major operating, investment, and capital allocation decisions are made for the Company and its subsidiaries by Sardar Biglari, Chairman and Chief Executive Officer.&#160;</font></p> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"></p> 3261 6948 8483 705 705 12962 213000 271000 253000 <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Biglari Capital Corp. </font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">On April 30, 2010, the Company acquired Biglari Capital for $4,107 pursuant to a Stock Purchase Agreement (the &#147;Stock Purchase Agreement&#148;) between the Company and Sardar Biglari, Chairman and Chief Executive Officer, who was the sole shareholder of Biglari Capital. Biglari Capital is the general partner of the Lion Fund, a Delaware limited partnership operating as a private investment fund.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">The Lion Fund is a private partnership that accounts for its investments at fair value. The fair value of the noncontrolling interest approximated the net asset value of the Lion Fund attributable to investors other than the Company, less the accrued incentive fee at the time of the acquisition. The Lion Fund investors may redeem their interests in the Lion Fund upon certain occurrences.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">At the acquisition date, the Lion Fund owned 76,421 shares of common stock of the Company as well as $7,540 of the Company&#146;s debentures. The fair value of the Company stock owned by the Lion Fund was $29,900, which was recorded as Treasury stock yet the shares remain outstanding. The debentures owned by the Lion Fund were recorded as a debt extinguishment. As the debentures had just been issued by the Company 30 days before the acquisition, the fair value of the debentures approximated their cost, and no gain or loss was recorded on the debt extinguishment (the debentures remained outstanding until their redemption on March 30, 2011). The noncontrolling interest in the Lion Fund had a fair value of $44,193 as of April 30, 2010.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">The Company accounted for the acquisition in accordance with ASC Topic 805, whereby the purchase price paid is allocated to the assets acquired and liabilities assumed from Biglari Capital based on their estimated fair values as of the closing date.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Acquisition related costs were not material and have been recorded in General and administrative expenses in the Consolidated Statement of Earnings.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">The following table represents the Company&#146;s assessment of the total purchase consideration allocated to the estimated fair values of the assets acquired and liabilities assumed from Biglari Capital as of April 30, 2010:</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">Purchase Allocation</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 70%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Investments</font></td><td style="width: 10%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="width: 18%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">10,926</font></td><td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Company debentures</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">7,540</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;Total assets acquired</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">18,466</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Current liabilities</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">66</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> </tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Redeemable noncontrolling interests of consolidated affiliated partnerships</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">44,193</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> </tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Treasury stock</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(29,900</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;Total liabilities assumed and treasury stock acquired</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">14,359</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-bottom: 2.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Net assets acquired</font></td><td style="padding-bottom: 2.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">4,107</font></td><td style="padding-bottom: 2.5pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Western Sizzlin Corporation</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">On March 30, 2010, the Company, through its wholly-owned subsidiary, Grill Acquisition Corporation (&#147;Merger Sub&#148;), acquired 100% of the outstanding equity interests of Western, pursuant to an Agreement and Plan of Merger among the Company, Merger Sub and Western, dated as of October 22, 2009 (the &#147;Merger Agreement&#148;). Sardar Biglari, Chairman and Chief Executive Officer, was also Chairman and Chief Executive Officer of Western at the time of the acquisition. Pursuant to the Merger Agreement, Merger Sub merged with and into Western, with Western continuing as the surviving corporation and as a wholly-owned subsidiary of the Company. Western is primarily engaged in the franchising of restaurants.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Under the terms of the Merger Agreement, each share of Western&#146;s common stock was cancelled upon the completion of the merger and converted into the right to receive a pro rata portion of a new issue of 14% redeemable subordinated debentures due 2015 issued by the Company (the &#147;Debentures&#148;) in the aggregate principal amount of $22,959 (approximately $8.07 principal amount of Debentures per Western share), with cash of $194 paid in lieu of fractional Debenture interests. See Note 15 for further information on the Debentures.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">The Company accounted for the acquisition in accordance with ASC Topic 805, whereby the purchase price paid is allocated to the tangible and identifiable intangible assets acquired and liabilities assumed from Western based on their estimated fair values as of the closing date.&#160;&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">During fiscal year 2010, we incurred $701 of transaction related costs which have been recorded in General and administrative expenses in the Consolidated Statement of Earnings.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">The table shown below reflects the final purchase price allocation.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td>&#160;</td><td>&#160;</td> <td colspan="3" style="text-align: center">Amounts at</td></tr> <tr style="vertical-align: bottom"> <td>&#160;</td><td>&#160;</td> <td colspan="3" style="text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">September 28<font style="color: black">, </font></font></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid">2011</td></tr> <tr style="vertical-align: bottom"> <td style="width: 70%; text-align: left">Current assets</td><td style="width: 10%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">3,310</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left">Property and equipment, net</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">4,874</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left">Investments, including marketable securities held by consolidated affiliated partnerships</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">13,037</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td>Goodwill</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">13,026</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left">Intangible assets</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">6,880</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-bottom: 1pt">Other assets</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">663</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-bottom: 1pt">&#160;&#160;&#160;Total assets acquired</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">41,790</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td>&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left">Current liabilities</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1,966</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td>Debt</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">2,595</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left">Other long-term liabilities</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">2,634</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left">Redeemable noncontrolling interests of consolidated affiliated partnerships</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">15,882</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-bottom: 1pt">Treasury stock</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(4,246</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-bottom: 1pt">&#160;&#160;&#160;Total liabilities assumed and treasury stock acquired</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">18,831</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-bottom: 2.5pt">Net assets acquired</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">22,959</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> </table> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">The goodwill and intangible assets generated from the merger is a result of the excess purchase price over the net fair value of the assets and liabilities acquired. We expect goodwill of approximately $942 to be deductible for tax purposes. Goodwill in the amount of $13,026 has been recorded in the Restaurant Operations segment.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Pro Forma Information</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">The following unaudited pro forma combined results of operations give effect to the acquisitions of Western and Biglari Capital as if they had occurred at the beginning of the periods presented. The unaudited pro forma combined results of operations do not purport to represent our consolidated earnings had the acquisitions occurred on the dates assumed, nor are these results necessarily indicative of the Company&#146;s future consolidated results of operations.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td>&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid">September 29, 2010</td></tr> <tr style="vertical-align: bottom"> <td>&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(52 weeks)</font></td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="width: 70%; text-align: left">Net revenues</td><td style="width: 10%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">683,518</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left">Net earnings</td><td>&#160;</td> <td style="text-align: left">$</td><td style="text-align: right">28,198</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td>Basic earnings per share</td><td>&#160;</td> <td style="text-align: left">$</td><td style="text-align: right">20.25</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td>Diluted earnings per share</td><td>&#160;</td> <td style="text-align: left">$</td><td style="text-align: right">20.13</td><td style="text-align: left">&#160;</td></tr> </table> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Steak n Shake recorded pre-tax asset impairment during fiscal years 2012, 2011 and 2010 of $901, $1,032 and $353, respectively. No company-operated restaurants were closed in fiscal years 2012, 2011 and 2010.</font></p> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"></p> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Investments consisted of the following:</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">2012</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="5" style="text-align: center; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2011</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 56%; padding-left: 4.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Cost</font></td><td style="width: 8%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="width: 12%; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">199,057</font></td><td style="width: 1%; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="width: 8%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="width: 12%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">124,140</font></td><td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-left: 4.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Gross unrealized gains</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">71,416</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">1,956</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> </tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 4.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Gross unrealized losses</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(615</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(10,775</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="padding-bottom: 2.5pt; padding-left: 4.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Fair value</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">269,858</font></td><td style="padding-bottom: 2.5pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 2.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">115,321</font></td><td style="padding-bottom: 2.5pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">On<font style="font: 8pt Times New Roman, Times, Serif"> September 26, 2012, most of the total fair value of our investments was concentrated in the common stock of one investee, Cracker Barrel Old Country Store, Inc. On September 26, 2012 we held 4,091,037 shares (140,100 shares through the Lion Fund) of Cracker Barrel Old Country Store, Inc.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">As of September 26, 2012, unrealized losses on available for sale equity securities in a continuous unrealized loss position for more than twelve consecutive months were $461. We considered several factors in determining other-than-temporary impairment losses including the current and long-term business prospects of the issuer, the length of time and relative magnitude of the price decline and our ability and intent to hold the investment until the price recovers. &#160;As of September 26, 2012, we concluded that the unrealized losses were temporary.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Investment gains/losses are recognized when investments are sold (as determined on a specific identification basis) or as otherwise required by GAAP. The timing of realized gains and losses from sales can have a material effect on periodic earnings. However, such realized gains or losses usually have little, if any, impact on total Shareholders&#146; equity because the investments are carried at fair value with any unrealized gains/losses included as a component of Accumulated other comprehensive income in Shareholders&#146; equity.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Realized investment gains/losses for the fiscal years ended September 26, 2012, September 28, 2011 and September 29, 2010 were as follows:</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">2012</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2011</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2010</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 46%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Gross realized gains on sales</font></td><td style="width: 5%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="width: 11%; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">4,584</font></td><td style="width: 1%; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="width: 5%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="width: 11%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">7,775</font></td><td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="width: 5%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="width: 11%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">3,810</font></td><td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Gross realized losses on sales</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(384</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(415</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(8</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> </table> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"><br /></font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">From time to time, the Company enters into certain derivative transactions as part of its investment strategy. In accordance with ASC 815, Accounting for Derivative Instruments and Hedging Activities, these derivatives are marked to market for each reporting period and this fair value adjustment is recorded as a gain or loss in the Consolidated Statement of Earnings. We believe that realized investment gains/losses are often meaningless in terms of understanding reported results. Short-term investment gains/losses have caused and may continue to cause significant volatility in our results.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">The Company may enter into short sales on certain equity securities, that is, a transaction in which the Company sells securities it does not own. The Company&#146;s use of short sales involves the risk that the price of the security in the open market may be higher when it is purchased in order to close out the Company&#146;s short position, resulting in a loss to the Company. Such a loss is theoretically limitless because there are no restrictions on the potential increase in the price of a security, or any guarantee as to the price at which the Company would be able to purchase the security in the open market.&#160;Securities sold in short sale transactions and the interest and dividends payable on such securities, if any, are reflected as a liability in Accrued expenses in the Consolidated Balance Sheet.&#160;As of September 26, 2012 and September 28, 2011 we had no outstanding short sales.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">For the year ended September 28, 2011, the Company recorded investment gains of $610 related to the change in fair value of derivatives and securities sold short. For the year ended September 29, 2010, the Company recorded investment gains from marking derivatives to market of $222.</font></p> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"></p> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td>&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid">2012</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid">2011</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid">2010</td></tr> <tr style="vertical-align: bottom"> <td style="width: 46%; text-align: left">Gross realized gains on sales</td><td style="width: 5%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">4,584</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 5%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">7,775</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 5%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">3,810</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left">Gross realized losses on sales</td><td>&#160;</td> <td style="text-align: left">$</td><td style="text-align: right">(384</td><td style="text-align: left">)</td><td>&#160;</td> <td style="text-align: left">$</td><td style="text-align: right">(415</td><td style="text-align: left">)</td><td>&#160;</td> <td style="text-align: left">$</td><td style="text-align: right">(8</td><td style="text-align: left">)</td></tr> </table> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"></p> 199057000 124140000 71416000 1956000 -615000 -10775000 269858000 115321000 266940000 89971000 2918000 25350000 269858000 115321000 4584000 7775000 3810000 -384000 -415000 -8000 <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="text-align: center">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid">2012</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid">2011</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left">Equity securities:</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="width: 56%; text-indent: 7.9pt">Cost</td><td style="width: 8%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">10,288</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 8%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">19,122</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: 7.9pt">Fair value</td><td>&#160;</td> <td style="text-align: left">$</td><td style="text-align: right">13,151</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">$</td><td style="text-align: right">18,783</td><td style="text-align: left">&#160;</td></tr> </table> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"></p> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">2012</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2011</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2010</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 46%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Gross unrealized gains</font></td><td style="width: 5%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="width: 11%; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">3,047</font></td><td style="width: 1%; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="width: 5%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="width: 11%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">1,317</font></td><td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="width: 5%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="width: 11%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">1,499</font></td><td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Gross unrealized losses</font></td><td style="color: black; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="color: black; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="color: black; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#151;&#160;&#160;</font></td><td style="color: black; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(1,547</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(493</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Net realized gains/losses from sale</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">2,895</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">3,365</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">831</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"></p> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">2012</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2011</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2010</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 46%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Carrying value at beginning of year</font></td><td style="width: 5%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="width: 11%; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">45,252</font></td><td style="width: 1%; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="width: 5%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="width: 11%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">62,245</font></td><td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="width: 5%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="width: 11%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">60,075</font></td><td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Contributions from noncontrolling interests</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,545</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">1,780</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">1,878</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Distributions to noncontrolling interests</font> </td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(254</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(17,499</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(1,025</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Incentive fee</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(36</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(2,510</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#151;&#160;&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Income allocation</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">3,188</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">1,909</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">1,317</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Adjustment to redeemable noncontrolling interest to reflect maximum redemption value</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">2,393</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(673</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#151;&#160;&#160;</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-bottom: 2.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Carrying value at end of year</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">52,088</font></td><td style="padding-bottom: 2.5pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 2.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">45,252</font></td><td style="padding-bottom: 2.5pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="color: black; padding-bottom: 2.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; color: black; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; color: black; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">62,245</font></td><td style="padding-bottom: 2.5pt; color: black; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif">&#160;</p> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"></p> 10288000 19122000 13151000 18783000 2895000 3365000 831000 -36000 -2510000 0 -254000 -17499000 -1025000 69221000 69221000 205743000 205743000 35697000 1246000 192000 2606000 621000 12115000 0 36000 5199000 15660000 1421000 <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Assets held for sale are composed of the following:</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">2012</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2011</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 56%; text-align: left; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Land and buildings</font></td><td style="width: 8%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="width: 12%; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">2,050</font></td><td style="width: 1%; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="width: 8%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="width: 12%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">6,262</font></td><td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="padding-bottom: 1pt; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Improvements</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">307</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">608</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Total assets held for sale</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">2,357</font></td><td style="padding-bottom: 2.5pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 2.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">6,870</font></td><td style="padding-bottom: 2.5pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">As of September 26, 2012, the balance included the following assets: three restaurants and two parcels of land. In fiscal year 2012, one restaurant and two parcels of land were sold. One parcel of land and one restaurant were added to assets held for sale during 2012. Five parcels of land, one office building, and one restaurant were reclassified to property and equipment during fiscal year 2012.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">The balance on September 28, 2011 included the following assets: one office building, four restaurants, and eight parcels of land. In fiscal year 2011, one parcel of land was sold and one restaurant was subleased.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="margin: 0; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">The Company expects to sell these properties within one year of their classification as assets held for sale. For any of these properties that are unsold within one year, management reclassifies them as property and equipment.</font></p> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"></p> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">2012</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2011</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 56%; text-align: left; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Land and buildings</font></td><td style="width: 8%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="width: 12%; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">2,050</font></td><td style="width: 1%; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="width: 8%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="width: 12%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">6,262</font></td><td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="padding-bottom: 1pt; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Improvements</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">307</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">608</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Total assets held for sale</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">2,357</font></td><td style="padding-bottom: 2.5pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 2.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">6,870</font></td><td style="padding-bottom: 2.5pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"></p> 1 3 4 2 8 <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Other current assets primarily include prepaid rent and prepaid contractual obligations.</font></p> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"></p> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Property and equipment is composed of the following:</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td>&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid">2012</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="5" style="text-align: center; border-bottom: Black 1pt solid">2011</td></tr> <tr style="vertical-align: bottom"> <td style="width: 56%; padding-left: 4.3pt">Land</td><td style="width: 8%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">162,685</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 8%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">161,339</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="padding-left: 4.3pt">Buildings</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">150,601</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">149,444</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-left: 4.3pt">Land and leasehold improvements</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">155,702</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">153,731</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="padding-left: 4.3pt">Equipment</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">204,340</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">202,933</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 4.3pt">Construction in progress</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">2,605</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">1,850</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="padding-left: 4.3pt">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">675,933</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">669,297</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 4.3pt">Less accumulated depreciation and amortization</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(319,295</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(297,561</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 4.3pt">Property and equipment, net</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">356,638</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">371,736</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> </table> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Depreciation and amortization expense for property and equipment for fiscal years 2012, 2011, and 2010 was $24,290, $25,169, and $26,373, respectively.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">2012</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="5" style="text-align: center; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2011</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 56%; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Land</font></td><td style="width: 8%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="width: 12%; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">162,685</font></td><td style="width: 1%; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="width: 8%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="width: 12%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">161,339</font></td><td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Buildings</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">150,601</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">149,444</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Land and leasehold improvements</font> </td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">155,702</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">153,731</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Equipment</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">204,340</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">202,933</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Construction in progress</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">2,605</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,850</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">675,933</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">669,297</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Less accumulated depreciation and amortization</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(319,295</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(297,561</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Property and equipment, net</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">356,638</font></td><td style="padding-bottom: 2.5pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 2.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">371,736</font></td><td style="padding-bottom: 2.5pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif">&#160;</p> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"></p> 162685000 161339000 150601000 149444000 155702000 153731000 204340000 202933000 2605000 1850000 675933000 669297000 -319295000 -297561000 24290000 25169000 26373000 <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Goodwill</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Goodwill consists of the excess of the purchase price over the fair value of the net assets acquired in connection with business acquisitions. There was no change to the carrying value of goodwill from September 28, 2011. The carrying value of goodwill decreased from September 29, 2010 to September 28, 2011 by $1,230 due to the final purchase price adjustment relating to the Western acquisition. Refer to Note 2 for additional discussion of the Western acquisition.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">A reconciliation of the change in the carrying value of goodwill is as follows:</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td>&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid">2012</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid">2011</td></tr> <tr style="vertical-align: bottom"> <td style="width: 56%; text-align: left; padding-left: 4.3pt">Balance at beginning of year</td><td style="width: 8%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">27,529</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 8%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">28,759</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 4.3pt">Purchase price allocation adjustment</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">&#151;&#160;&#160;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(1,230</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 4.3pt">Balance at end of year</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">27,529</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">27,529</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> </table> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">We are required to assess goodwill and any indefinite-lived intangible assets for impairment annually, or more frequently if circumstances indicate impairment may have occurred. The analysis of potential impairment of goodwill requires a two-step approach. The first step is the estimation of fair value of each reporting unit. If step one indicates that impairment potentially exists, the second step is performed to measure the amount of impairment, if any. Goodwill impairment exists when the estimated fair value of goodwill is less than its carrying value.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">During the fourth quarter of the fiscal year, we perform our annual assessment of the recoverability of our goodwill related to four reporting units. During the second quarter of the fiscal year, we perform our annual assessment of our recoverability of goodwill related to two reporting units. The valuation methodology and underlying financial information included in our determination of fair value require significant judgments to be made by management. We use both market and income approaches to derive fair value. The judgments in these two approaches include, but are not limited to, comparable market multiples, long-term projections of future financial performance, and the selection of appropriate discount rates used to determine the present value of future cash flows. Changes in such estimates or the application of alternative assumptions could produce significantly different results. No potential impairment was identified for our reporting units during fiscal years 2012, 2011, or 2010.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;<br /></font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Other Intangibles</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Other intangibles are composed of the following:</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="5" style="border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">2012</font></td> <td style="font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="10" style="border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">2011</font></td></tr> <tr style="vertical-align: top; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt/115% Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-top: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-top: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-top: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-top: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="10" style="font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: top; padding-left: 9pt; font: 8pt/115% Times New Roman, Times, Serif; text-indent: -9pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">Gross carrying amount</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">Accumulated amortization</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">Total</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: bottom; border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">Gross carrying amount</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: bottom; border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">Accumulated amortization</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: bottom; border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">Total</font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: bottom; padding-left: 4.3pt; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Right to operate</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">$&#160;&#160; 1,480</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">$&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160; (1,235)</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">$&#160; &#160; 245</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">$&#160;&#160;&#160;&#160;&#160;&#160; 1,480</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: bottom; padding-right: 0.7pt; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (1,117</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">$&#160;&#160;&#160; 363</font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: bottom; padding-left: 4.3pt; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Franchise agreement</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160; 5,310</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (1,328)</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160; 3,982</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">5,310</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; padding-right: 0.7pt; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(797</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">4,513</font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: bottom; padding-left: 4.3pt; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Other</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160; 810</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (533)</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160; 277</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: bottom; border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">810</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: bottom; border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; padding-right: 0.7pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(480</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: bottom; border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">330</font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: bottom; padding-left: 4.3pt; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Total</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160; 7,600</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (3,096)</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160; 4,504</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: bottom; border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">7,600</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: bottom; border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; padding-right: 0.7pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(2,394</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: bottom; border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">5,206</font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: bottom; padding-left: 4.3pt; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Intangible assets with indefinite lives</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160; 1,744</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#9;&#151;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160; 1,744</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: bottom; border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,744</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: bottom; border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#151;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: bottom; border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,744</font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: bottom; padding-left: 4.3pt; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Total intangible assets</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: windowtext 1.5pt double; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">$&#160;&#160; 9,344</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: windowtext 1.5pt double; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">$&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160; (3,096)</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: windowtext 1.5pt double; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">$&#160; &#160; 6,248</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: bottom; border-bottom: windowtext 2.25pt double; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">$&#160;&#160;&#160;&#160;&#160;&#160; 9,344</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: bottom; border-bottom: windowtext 2.25pt double; font: 8pt/115% Times New Roman, Times, Serif; padding-right: 0.7pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (2,394</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: bottom; border-bottom: windowtext 2.25pt double; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">$&#160;&#160;&#160; 6,950</font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: center; vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: center; vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: center; vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: center; vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: center; vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Intangible assets subject to amortization consist of franchise agreements acquired in connection with the acquisition of Western, a right to operate and favorable leases acquired in connection with prior acquisitions and are being amortized over their estimated weighted average useful lives ranging from eight to twelve years. In connection with the sale of Mustang Capital Management, L.L.C. and Mustang Capital Advisors, L.P. during the third quarter of fiscal year 2011, we disposed of an intangible asset relating to certain customer relationships with a gross carrying value and net basis at the time of disposal of $326 and $266, respectively.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Amortization expense for fiscal years 2012, 2011, and 2010 was $702, $742, and $487, respectively. Total annual amortization expense for each of the next five years will approximate $620.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Intangible assets with indefinite lives consist of a trade name acquired in connection with the acquisition of Western and reacquired franchise rights acquired in connection with previous acquisitions.</font></p> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"></p> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">2012</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2011</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 56%; text-align: left; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Balance at beginning of year</font></td><td style="width: 8%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="width: 12%; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">27,529</font></td><td style="width: 1%; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="width: 8%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="width: 12%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">28,759</font></td><td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Purchase price allocation adjustment</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#151;&#160;&#160;</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(1,230</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Balance at end of year</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">27,529</font></td><td style="padding-bottom: 2.5pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 2.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">27,529</font></td><td style="padding-bottom: 2.5pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"></p> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="11" style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">2012</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="11" style="text-align: center; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2011</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="27" style="font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="padding-bottom: 1pt; text-indent: -9pt; padding-left: 9pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">Gross carrying amount</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">Accumulated amortization</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">Total</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">Gross carrying amount</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">Accumulated amortization</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">Total</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 40%; text-align: left; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Right to operate</font></td><td style="width: 2%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="width: 6%; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,480</font></td><td style="width: 1%; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="width: 2%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="width: 6%; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(1,235</font></td><td style="width: 1%; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td><td style="width: 2%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="width: 6%; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">245</font></td><td style="width: 1%; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="width: 2%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="width: 6%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">1,480</font></td><td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="width: 2%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="width: 6%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(1,117</font></td><td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td><td style="width: 2%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="width: 6%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">363</font></td><td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Franchise agreement</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">5,310</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(1,328</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">3,982</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">5,310</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(797</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">4,513</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="padding-bottom: 1pt; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Other</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">810</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(533</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">277</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">810</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(480</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">330</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="padding-bottom: 1pt; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Total</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">7,600</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(3,096</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">4,504</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">7,600</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(2,394</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">5,206</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Intangible assets with indefinite lives</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,744</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#151;&#160;&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,744</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,744</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#151;&#160;&#160;</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,744</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Total intangible assets</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">9,344</font></td><td style="padding-bottom: 2.5pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(3,096</font></td><td style="padding-bottom: 2.5pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">6,248</font></td><td style="padding-bottom: 2.5pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 2.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">9,344</font></td><td style="padding-bottom: 2.5pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 2.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(2,394</font></td><td style="padding-bottom: 2.5pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td><td style="padding-bottom: 2.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">6,950</font></td><td style="padding-bottom: 2.5pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"></p> -1230000 7600000 7600000 1480000 1480000 5310000 5310000 810000 810000 1744000 1744000 -3096000 -2394000 -1235000 -1117000 -1328000 -797000 -533000 -480000 4504000 5206000 245000 363000 3982000 4513000 277000 330000 1744000 1744000 1744000 1744000 702000 742000 487000 620000 eight to twelve years <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Accrued expenses include the following:</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">2012</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="5" style="text-align: center; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2011</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 56%; text-align: left; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Salaries, wages, vacation, and severance</font></td><td style="width: 8%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="width: 12%; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">22,205</font></td><td style="width: 1%; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="width: 8%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="width: 12%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">15,340</font></td><td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Taxes payable</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">13,067</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">16,656</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Insurance accruals</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">7,971</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">7,511</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> </tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="padding-bottom: 1pt; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Other</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">10,623</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">7,441</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Total accrued expenses</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">53,866</font></td><td style="padding-bottom: 2.5pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 2.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">46,948</font></td><td style="padding-bottom: 2.5pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"></p> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">2012</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="5" style="text-align: center; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2011</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 56%; text-align: left; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Salaries, wages, vacation, and severance</font></td><td style="width: 8%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="width: 12%; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">22,205</font></td><td style="width: 1%; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="width: 8%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="width: 12%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">15,340</font></td><td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Taxes payable</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">13,067</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">16,656</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Insurance accruals</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">7,971</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">7,511</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="padding-bottom: 1pt; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Other</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">10,623</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">7,441</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Total accrued expenses</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">53,866</font></td><td style="padding-bottom: 2.5pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 2.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">46,948</font></td><td style="padding-bottom: 2.5pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"></p> 22205000 15340000 13067000 16656000 7971000 7511000 10623000 7441000 <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Other long-term liabilities include deferred rent expense, non-qualified plan obligations, deferred gain on sale-leaseback transactions, uncertain tax positions, and deferred compensation.</font></p> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"></p> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">The components of the provision for income taxes consist of the following:</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">2012</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="text-align: right; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2011</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="text-align: right; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2010</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Current:</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 46%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Federal</font></td><td style="width: 5%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="width: 11%; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">7,275</font></td><td style="width: 1%; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="width: 5%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="width: 11%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">13,217</font></td><td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="width: 5%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="width: 11%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">10,212</font></td><td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">State</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,905</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2,836</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">1,600</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Deferred</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(2,727</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(2,186)</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">207</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-bottom: 2.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Total income taxes</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">6,453</font></td><td style="padding-bottom: 2.5pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 2.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">13,867</font></td><td style="padding-bottom: 2.5pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 2.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">12,019</font></td><td style="padding-bottom: 2.5pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Reconciliation of effective income tax:</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Tax at U.S. statutory rates (35%)</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">10,919</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">16,741</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">14,504</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">State income taxes, net of federal benefit</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,063</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">1,410</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">1,463</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Federal income tax credits</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(3,517</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(4,307)</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(4,146)</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Share-based payments</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">25</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">68</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">189</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Tax attributed to noncontrolling interests</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(1,103</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">210</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(466)</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Dividends received deduction</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(963</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(161)</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(11)</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Other</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">29</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(94)</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">486</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-bottom: 2.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Total income taxes</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">6,453</font></td><td style="padding-bottom: 2.5pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 2.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">13,867</font></td><td style="padding-bottom: 2.5pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 2.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">12,019</font></td><td style="padding-bottom: 2.5pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Income taxes paid totaled $16,802 in fiscal year 2012, $12,436 in fiscal year 2011, and $9,878 in fiscal year 2010. Income tax refunds totaled $641 in fiscal year 2012 and $2,856 in fiscal year 2011.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">As of September 26, 2012, we had approximately $812 of unrecognized tax benefits, including approximately $66 of interest and penalties, which are included in Other long-term liabilities in the Consolidated Balance Sheet. During fiscal year 2012, we recognized approximately $67 in potential interest and penalties associated with uncertain tax positions. Our continuing practice is to recognize interest expense and penalties related to income tax matters in Income tax expense. Of the $812 of unrecognized tax benefits, $769 would impact the effective income tax rate if recognized.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">The following table summarizes the Company&#146;s unrecognized tax benefits, excluding interest and penalties:</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 70%; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">September 30, 2009</font></td><td style="width: 10%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="width: 18%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">1,205</font></td><td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Gross increases&#160;&#150;&#160;prior period tax positions &#9;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">281</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="padding-bottom: 1pt; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Lapse of statute of limitations &#9;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(251</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="padding-bottom: 1pt; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">September 29, 2010 &#9;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,235</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Gross increases&#160;&#150;&#160;current period tax positions</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">178</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Gross increases&#160;&#150;&#160;prior period tax positions</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">238</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="padding-bottom: 1pt; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Lapse of statute of limitations</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(171</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="padding-bottom: 1pt; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">September 28, 2011</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,480</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left; padding-left: 4.3pt"><font style="font: 8pt Times New Roman, Times, Serif">Gross increases&#160;&#150;&#160;current period tax positions</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">109</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; padding-left: 4.3pt"><font style="font: 8pt Times New Roman, Times, Serif">Lapse of statute of limitations</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(843</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; padding-left: 4.3pt"><font style="font: 8pt Times New Roman, Times, Serif">September 26, 2012</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">746</font></td><td style="padding-bottom: 2.5pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">We file income tax returns which are periodically audited by various federal, state, and local jurisdictions. With few exceptions, we are no longer subject to federal, state, and local tax examinations for fiscal years prior to 2009. We believe we have certain state income tax exposures related to fiscal years 2009 through 2011. Due to the expiration of the various state statutes of limitations for these fiscal years, it is possible that the total amount of unrecognized tax benefits will decrease by approximately $72 within 12 months.&#160;</font> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"><br /></font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Deferred tax assets and liabilities are determined based on differences between financial reporting and tax basis of assets and liabilities and are measured using the currently enacted tax rates and laws that will be in effect when the differences are expected to reverse. Our deferred tax assets and liabilities consist of the following:</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">2012</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2011</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Deferred tax assets:</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 56%; text-align: left; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Insurance reserves</font></td><td style="width: 8%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="width: 12%; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">2,673</font></td><td style="width: 1%; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="width: 8%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="width: 12%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2,539</font></td><td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Share-based payments</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">13</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">330</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Compensation accruals</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,968</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">1,645</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Gift card accruals</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">596</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">561</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">State net operating loss credit carryforward</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">60</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">107</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Investments</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#151;&#160;&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">3,603</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="padding-bottom: 1pt; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Other</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">2,516</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,724</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Total deferred tax assets</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">7,826</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">10,509</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Deferred tax liabilities:</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Investments</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">27,274</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#151;&#160;&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Fixed asset basis difference</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">5,436</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">7,833</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Goodwill and intangibles</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">3,158</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">3,190</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Total deferred tax liabilities</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">35,868</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">11,023</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Net deferred tax liability</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(28,042</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(514</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Less current portion</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(19,367</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">6,150</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="padding-bottom: 2.5pt; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Long-term liability</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(8,675</font></td><td style="padding-bottom: 2.5pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td><td style="padding-bottom: 2.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(6,664</font></td><td style="padding-bottom: 2.5pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> </table> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Receivables on the Consolidated Balance Sheet include income tax receivables of $2,455 as of September 26, 2012. Accrued expenses on the Consolidated Balance Sheet include income tax payable of $4,372 as of September 28, 2011.</font></p> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">2012</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="text-align: right; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2011</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="text-align: right; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2010</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif; width: 46%"><font style="font: 8pt Times New Roman, Times, Serif">Current:</font></td><td style="font: 8pt Times New Roman, Times, Serif; width: 5%"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif; width: 11%"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; width: 5%"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif; width: 11%"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; width: 5%"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif; width: 11%"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">Federal</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">7,275</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">13,217</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">10,212</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">State</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,905</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2,836</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">1,600</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Deferred</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(2,727</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(2,186)</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">207</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-bottom: 2.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Total income taxes</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">6,453</font></td><td style="padding-bottom: 2.5pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 2.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">13,867</font></td><td style="padding-bottom: 2.5pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 2.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">12,019</font></td><td style="padding-bottom: 2.5pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 70%; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">September 30, 2009</font></td><td style="width: 10%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="width: 18%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">1,205</font></td><td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Gross increases&#160;&#150;&#160;prior period tax positions &#9;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">281</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="padding-bottom: 1pt; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Lapse of statute of limitations &#9;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(251</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="padding-bottom: 1pt; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">September 29, 2010 &#9;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,235</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Gross increases&#160;&#150;&#160;current period tax positions</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">178</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Gross increases&#160;&#150;&#160;prior period tax positions</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">238</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="padding-bottom: 1pt; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Lapse of statute of limitations</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(171</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="padding-bottom: 1pt; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">September 28, 2011</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,480</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left; padding-left: 4.3pt"><font style="font: 8pt Times New Roman, Times, Serif">Gross increases&#160;&#150;&#160;current period tax positions</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">109</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; padding-left: 4.3pt"><font style="font: 8pt Times New Roman, Times, Serif">Lapse of statute of limitations</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(843</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; padding-left: 4.3pt"><font style="font: 8pt Times New Roman, Times, Serif">September 26, 2012</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">746</font></td><td style="padding-bottom: 2.5pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">2012</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2011</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif; width: 56%"><font style="font: 8pt Times New Roman, Times, Serif">Deferred tax assets:</font></td><td style="font: 8pt Times New Roman, Times, Serif; width: 8%"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right; width: 12%"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; width: 8%"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif; width: 12%"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left; padding-left: 4.3pt"><font style="font: 8pt Times New Roman, Times, Serif">Insurance reserves</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">2,673</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">2,539</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Share-based payments</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">13</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">330</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Compensation accruals</font> </td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,968</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">1,645</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Gift card accruals</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">596</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">561</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">State net operating loss credit carryforward</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">60</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">107</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Investments</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#151;&#160;&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">3,603</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="padding-bottom: 1pt; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Other</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">2,516</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,724</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Total deferred tax assets</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">7,826</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">10,509</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Deferred tax liabilities:</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Investments</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">27,274</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#151;&#160;&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Fixed asset basis difference</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">5,436</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">7,833</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Goodwill and intangibles</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">3,158</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">3,190</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Total deferred tax liabilities</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">35,868</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">11,023</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Net deferred tax liability</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(28,042</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(514</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Less current portion</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(19,367</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">6,150</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="padding-bottom: 2.5pt; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Long-term liability</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(8,675</font></td><td style="padding-bottom: 2.5pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td><td style="padding-bottom: 2.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(6,664</font></td><td style="padding-bottom: 2.5pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> </table> 7275000 13217000 10212000 1905000 2836000 1600000 10919000 16741000 14504000 1063000 1410000 1463000 -3517000 -4307000 -4146000 25000 68000 189000 29000 -94000 486000 746000 1480000 1235000 1205000 109000 178000 0 238000 281000 -843000 -171000 -251000 2673000 2539000 13000 330000 1968000 1645000 596000 561000 60000 107000 3603000 2516000 1724000 7826000 10509000 5436000 7833000 3158000 3190000 35868000 11023000 -28042000 -514000 16802000 12436000 9878000 641000 2856000 66000 67000 72000 4372000 26000 163000 189000 15000 94000 69000 26000 57660000 2808000 116149000 4555000 17000 106000 17000 17000 17000 12832000 368000 13703000 412000 11905000 318000 10651000 321000 9398000 328000 1173000 967000 749000 72828000 61663000 29506000 566000 61682000 <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Debentures</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">In connection with the acquisition of Western, the Company issued 14% redeemable subordinated debentures due 2015 (the &#147;Debentures&#148;) in the aggregate principal amount of $22,959. On March 30, 2011, the Company redeemed all of its outstanding Debentures. The Debentures were redeemed for cash at an aggregate redemption price of approximately $23,420, representing 100% of the principal amount outstanding, plus accrued and unpaid interest up to, but not including, March 30, 2011. The Debentures were issued and the redemption was effected pursuant to the provisions of the Indenture, dated March 30, 2010 (the &#147;Indenture&#148;), between the Company and Wells Fargo Bank, National Association, as trustee. Upon the redemption of the Debentures, the Company&#146;s obligations under the Debentures and the Indenture were satisfied and discharged in accordance with their terms. Included in the Debentures aggregate redemption price of $23,420 was approximately $7,804 of principal and interest paid to the Lion Fund. The payment to the Lion Fund does not appear explicitly in the Company&#146;s Consolidated Statement of Cash Flows because of the requirement to consolidate fully the Lion Fund in the Company&#146;s financial statements.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Steak n Shake Credit Facility</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">On September 25, 2012, Steak n Shake, as borrower, Steak n Shake Enterprises, Inc. (&#147;Steak n Shake Enterprises&#148;) and Steak n Shake, LLC, as guarantors (together with Steak n Shake Enterprises, the &#147;Subsidiary Guarantors&#148;), each subsidiaries of the Company, entered into a credit agreement (the &#147;New Credit Facility&#148;) with the lenders party thereto. The New Credit Facility consists of a $130,000 senior secured term loan facility (the &#147;Term Loan&#148;) and a $50,000 senior secured revolving credit facility (the &#147;Revolver&#148;).</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">The Term Loan matures on September 25, 2017 and has a repayment schedule with quarterly amortization, beginning on December 31, 2012, initially equal to 1.875% of the initial principal amount of the Term Loan (as adjusted pursuant to the New Credit Facility), together with accrued and unpaid interest on the principal amount to be paid, with the balance due at maturity. The Revolver will be available until September 25, 2017. Interest on the Term Loan and Revolver is based on a Eurodollar rate plus an applicable margin ranging from 3.00% to 3.75% or a base rate plus an applicable margin ranging from 2.00% to 2.75%. The applicable margins are contingent on Steak n Shake&#146;s total leverage ratio. The Revolver also carries a commitment fee ranging from 0.35% to 0.50%, based on Steak n Shake&#146;s total leverage ratio, per annum on the unused portion of the credit line. As of September 26, 2012, the interest rate on the Term Loan was 3.72%, and there were no borrowings under the Revolver.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">The New Credit Facility includes affirmative and negative covenants and events of default, as well as financial covenants relating to a maximum total leverage ratio and a minimum consolidated fixed charge coverage ratio. Steak n Shake was in compliance with all covenants under the New Credit Facility as of September 26, 2012.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Both the Term Loan and the Revolver have been guaranteed by the Subsidiary Guarantors and secured by first priority security interests in substantially all the assets of Steak n Shake (including the capital stock of Steak n Shake Enterprises) and the Subsidiary Guarantors.&#160;Biglari Holdings is not a guarantor under the New Credit Facility.&#160; $114,176 of the proceeds of the Term Loan were used to repay all outstanding amounts under Steak n Shake&#146;s former credit facility, which was terminated, and to pay related fees and expenses. The remaining Term Loan proceeds of approximately $15,824 will be used by Steak n Shake for working capital and general corporate purposes. Steak n Shake incurred no material early termination penalties in connection with the termination of the former credit facility.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">As of September 28, 2011, outstanding borrowings under Steak n Shake&#146;s former credit facility were $110,000 under the term loan and $15,000 under the revolving credit facility.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">We recorded a $1,955 loss on the extinguishment of debt for the fiscal year ended September 26, 2012 related to the write-off of deferred loan costs associated with the former credit facility. We capitalized $1,961 in debt issuance costs related to the New Credit Facility in 2012 and we capitalized $3,174 in debt issuance costs for the year ended September 28, 2011 related to the former credit facility.</font> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">We had $4,781 and $4,610 in standby letters of credit outstanding as of September 26, 2012 and September 28, 2011, respectively.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Security Agreement</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">In connection with the New Credit Facility, Steak n Shake and the Subsidiary Guarantors (Steak n Shake Enterprises, Inc. and Steak n Shake LLC) entered into a security agreement (the &#147;Security Agreement&#148;) with Fifth Third. Pursuant to the Security Agreement, Steak n Shake and the Subsidiary Guarantors each granted to Fifth Third a lien on all of the Pledged Collateral (as defined in the Security Agreement.&#160;The Pledged Collateral does not include the real estate of Steak n Shake and the Subsidiary Guarantors, but such real estate is subject to a springing lien if Steak n Shake does not maintain certain leverage ratios.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Interest Rate Swap</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">During fiscal year 2011, Steak n Shake entered into an interest rate swap agreement for a notional amount of $20,000, which effectively fixed the interest rate on a prior credit facility at 3.25% through February 15, 2016. The notional amount decreases $1,000 quarterly through its maturity on February 15, 2016. The notional amount of the interest rate swap was $14,000 on September 26, 2012. The fair value of the interest rate swap was a liability of $351 and $439 on September 26, 2012 and September 28, 2011, respectively, and is included in Accrued expenses on the Consolidated Balance Sheet.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">On October 11, 2012, Steak n Shake entered into a new interest rate swap for a notional amount of $65,000 through September 30, 2015. The agreement hedges potential changes in the Eurodollar rate.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Western Real Estate Loan Agreement and Note Payable</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Western Real Estate, L.P. (&#147;Western RE&#148;), a wholly-owned subsidiary of Western, has a promissory note (the &#147;Note&#148;) which is secured by approximately 23 acres of real property. The principal amount of the Note is $2,293 and, as of September 26, 2012, the Note bore interest at a rate of 5.0% annually. As of September 26, 2012, the Note was due and payable in consecutive monthly payments of accrued interest only that commenced on March 30, 2010. The Note may be prepaid in whole or in part at any time without penalty. The balance of the note was paid in full on November 28, 2012.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">The loan agreement under which the Note was issued (the &#147;Loan Agreement&#148;) contains various affirmative and negative covenants, limitations and events of default customary for loans of this type to similar borrowers, including limitations on Western RE&#146;s ability to incur indebtedness and liens, subject to limited exceptions, and certain financial covenants that must be maintained. Additionally, the Note is not guaranteed by or an obligation of the parent Company; rather, the Note is guaranteed by Western and its subsidiaries. Western RE was in compliance with all covenants under the Loan Agreement as of September 26, 2012.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Expected principal payments for all outstanding borrowings, excluding the Revolver, for which we had no outstanding borrowings as of September 26, 2012, are as follows:</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="width: 43%; text-align: center; vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2013</font></td><td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="width: 10%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="width: 43%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">12,138</font></td><td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: center; vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2014</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">9,750</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: center; vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2015</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">13,000</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: center; vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2016</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">13,000</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: center; vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2017</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">84,500</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: center; vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Total</font></td><td style="padding-bottom: 2.5pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 2.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">132,388</font></td><td style="padding-bottom: 2.5pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">The carrying amounts for debt reported in the Consolidated Balance Sheet do not differ materially from their fair values at September 26, 2012 and September 28, 2011 as a result of the refinancing in each fiscal year. The fair value was determined to be a Level 3 fair value measurement.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Interest</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">No interest was capitalized in connection with financing additions to property and equipment during fiscal years 2012, 2011 and 2010. Interest paid on debt amounted to $7,359 in 2012, $2,947 in 2011, and $1,274 in 2010. Interest paid on obligations under leases was $10,073, $10,565, and $10,697 in 2012, 2011, and 2010, respectively.</font></p> 4781000 4610000 130000000 110000000 351000 439000 12138000 9750000 13000000 7359000 2947000 1274000 10073000 10565000 10697000 <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">On April 30, 2010, the Company acquired Biglari Capital pursuant to a Stock Purchase Agreement between the Company and Sardar Biglari, Chairman and Chief Executive Officer, who was the sole shareholder of Biglari Capital. (Refer to Note 2.)</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0pt"><font style="font: 8pt Times New Roman, Times, Serif">On March 30, 2010, the Company, through its wholly-owned subsidiary, Merger Sub, acquired 100% of the outstanding equity interests of Western. Sardar Biglari, Chairman and Chief Executive Officer, was also Chairman and Chief Executive Officer of Western at the time of the acquisition. Additionally, at the time of the merger, Mr. Biglari owned shares of Western&#146;s common stock through his ownership interest in the Lion Fund. (Refer to Note 2.) </font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Mr. Biglari, along with his affiliates, and certain directors of the Company make investments in the Lion Fund (other than the amounts invested by the Company), which are not subject to special profits, interest allocations, or incentive allocations. However, Mr. Biglari does not pay an incentive allocation fee as a limited partner in the Lion Fund. As of September 26, 2012 and September 28, 2011, the total fair value of these investments was approximately $2,506 and $1,997, respectively.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"></p> 2506000 1997000 <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">We maintain stock-based compensation plans which allow for the issuance of incentive stock options, non-qualified stock options, and restricted stock to officers, other key employees, and to members of the Board of Directors. We generally use treasury shares to satisfy the issuance of shares under these stock-based compensation plans. We utilize the fair value recognition provisions of ASC paragraph 718-10-55-10, Fair-Value-Based Instruments in a Share-Based Transaction. This guidance applies to all awards granted after the effective date and to modifications, repurchases or cancellations of existing awards. Additionally, under the modified prospective method of adoption, we recognize compensation expense for the portion of outstanding awards on the adoption date for which the requisite service period has not yet been rendered based on the grant-date fair value of those awards.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">The weighted average fair value of shares granted during the year ended September 29, 2010 was $158.52. No shares were granted in fiscal year 2012 or 2011. We estimate the fair value of each grant using the Black-Scholes option-pricing model. Expected volatilities are generally based on historical volatility of our stock. We use historical data to estimate the expected life, and groups of employees that have similar historical behaviors are considered separately for valuation purposes. The risk-free rate for periods within the expected life of the option is based on the U.S. Treasury yield curve in effect at the time of grant. The Black-Scholes option-pricing model was developed for use in estimating the fair value of traded options, which have no vesting restrictions and are fully transferable. In addition, option-pricing models require the input of highly subjective assumptions including the expected stock price volatility. Because our stock options have characteristics significantly different from those of traded options, changes in the subjective input assumptions can materially affect the fair value estimate. The fair value estimates are based on the following weighted average assumptions:</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td>&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid">2010</td></tr> <tr style="vertical-align: bottom"> <td style="width: 70%; text-align: left; padding-left: 0pt">Risk-free interest rate</td><td style="width: 10%">&#160;</td> <td style="width: 1%; text-align: left">&#160;</td><td style="width: 18%; text-align: right">4.3</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-left: 0pt">Dividend yield</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0.0</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-left: 0pt">Expected volatility</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">52.4</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-left: 0pt">Expected life in years</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">3.0 years</font></td><td style="text-align: left">&#160;</td></tr> </table> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Restricted Stock Plans</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">On March 7, 2008, our shareholders approved the 2008 Equity Incentive Plan (the &#147;2008 Plan&#148;). The 2008 Plan provides for grants of stock-based awards for up to 45,000 shares of common stock with a maximum of 35,000 shares which may be issued as restricted stock. These restricted stock awards are restricted for a period and are forfeited to us if the grantee is not employed (except for reasons of retirement, permanent disability or death) at the end of the vesting period. Awards of restricted stock are valued at 100% of market value at the date of grant. The total value of the stock grant is amortized to compensation expense ratably over the vesting period. There are no shares of restricted stock granted under the 2008 Plan for which restrictions have not lapsed at September 26, 2012. At September 26, 2012, 27,834 shares were reserved for future grants but are not permitted to be issued under the 2008 Plan. To date, 11,660 shares have vested under the 2008 Plan.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">The total fair value of shares vested during the years ended September 26, 2012, September 28, 2011, and September 29, 2010 was $0, $657, and $768, respectively. The amount charged to expense under the 2008 Plan was $0 in 2012, $51 ($32, net of tax) in 2011, and $235 ($143, net of tax) in 2010. There was no unrecognized compensation cost at September 26, 2012.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">There was no restricted stock activity under the 2008 Plan in 2012.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Employee Stock Option Plans<br /> The 2008 Plan also provides for awards in the form of options to purchase shares of common stock. No options were granted in 2012, 2011 or 2010 under the 2008 Plan. Options granted under the 2008 Plan are exercisable in equal installments on each anniversary of the date of grant until fully exercisable. The options expire ten years from the date of the grant and are issued with an exercise price equal to the fair market value of a share of common stock on the date of grant. Options may be granted under the 2008 Plan to officers and key employees selected by the Governance, Compensation and Nominating Committee of the Board of Directors (the &#147;Compensation Committee&#148;). As of September 26, 2012, 10,270 options have been granted under the 2008 Plan and 27,834 shares are available for future issuance but are not permitted to be issued under the 2008 Plan. These are the same shares available for future issuance referenced in the Restricted Stock Plan&#146;s disclosure.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Non-Employee Director Stock Option Plans</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Our Non-Employee Director Stock Option Plans provide for the grant of non-qualified stock options at a price equal to the fair market value of the common stock on the date of the grant. Options outstanding under each plan through fiscal year 2005 are exercisable as to 20% on the date of grant and 20% on each anniversary of the date of grant thereafter until fully exercisable. Options outstanding that were issued in fiscal year 2006 or later are exercisable as to 25% on each anniversary of the date of grant until fully exercisable. The options expire five years from the date of grant. At September 26, 2012, 10,500 options have been granted under the Non-Employee Director Stock Option Plans. The Non-Employee Director Stock Option Plans were replaced by the 2008 Plan and as a result, no shares are reserved for future grants under the Non-Employee Director Stock Option Plans.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">The following table summarizes the options activity under all of our stock option plans:</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="text-align: center">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid">Options</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid">Weighted<br /> Average<br /> Exercise Price</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid">Weighted<br /> Average<br /> Remaining<br /> Contractual Life</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid">Aggregate<br /> Intrinsic Value</td></tr> <tr style="vertical-align: bottom"> <td style="width: 40%; padding-left: 0pt">Outstanding at September 28, 2011</td><td style="width: 3%">&#160;</td> <td style="width: 1%; text-align: left">&#160;</td><td style="width: 10%; text-align: right">13,579</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 3%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">282.44</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 3%">&#160;</td> <td style="width: 1%; text-align: left">&#160;</td><td style="width: 10%; text-align: right">&#160;</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 3%">&#160;</td> <td style="width: 1%; text-align: left">&#160;</td><td style="width: 10%; text-align: right">&#160;</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="padding-left: 0pt">Exercised</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(1,548</td><td style="text-align: left">)</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">244.77</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 0pt">Canceled or forfeited</td><td style="padding-bottom: 1pt">&#160;</td> <td style="text-align: left; padding-bottom: 1pt">&#160;</td><td style="text-align: right; border-bottom: Black 1pt solid">(1,995</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td> <td style="text-align: left; border-bottom: Black 1pt solid">&#160;</td><td style="text-align: right; border-bottom: Black 1pt solid">344.62</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="text-align: left; padding-bottom: 1pt">&#160;</td><td style="text-align: right; padding-bottom: 1pt">&#160;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="padding-left: 0pt">Outstanding at September 26, 2012</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">10,036</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">275.89</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">4.40 years</font></td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">$</td><td style="text-align: right">1,003</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-left: 0pt">Vested or expected to vest at September 26, 2012</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">10,017</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">276.03</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">4.40 years</font></td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">$</td><td style="text-align: right">1,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="padding-left: 0pt">Exercisable at September 26, 2012</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">9,836</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">$</td><td style="text-align: right">277.43</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">4.46 years</font></td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">$</td><td style="text-align: right">989</td><td style="text-align: left">&#160;</td></tr> </table> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">During fiscal years 2012, 2011, and 2010, $75 ($74, net of tax), $218 ($210, net of tax), and $592 ($570, net of tax), respectively, was charged to expense related to the stock option plans. The total intrinsic value of options exercised during the years ended September 26, 2012, September 28, 2011, and September 29, 2010 was $235, $693, and $490, respectively. There was no unrecognized stock option compensation cost at September 26, 2012.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Employee Stock Purchase Plan</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Under the Employee Stock Purchase Plan (the &#147;ESPP&#148;), a maximum of 92,627 shares of common stock are available for issuance to all eligible employees as determined by the Board of Directors subject to a limitation of 7,500 shares per year. Unissued shares in any given calendar year are available to increase the annual maximum number of shares issuable in subsequent years. Employees may purchase shares of common stock through payroll deductions ranging from 2% to 10% of compensation up to a maximum fair market value of $200 or a maximum purchase of 50 shares per year, whichever is less, within the limitations of the offering. Shares were purchased on a quarterly basis at a 15% discount from the share price on the last day of the quarter. Shares purchased under the ESPP were 812 in 2010. During fiscal year 2010, $32 was charged to expense related to the ESPP. No shares were purchased in fiscal years 2012 or 2011.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Our compensation philosophy, including the various equity plans, changed during fiscal year 2010 to reflect present management&#146;s view on the most effective method to create shareholder value. The new incentives, which are cash based, are designed to ensure alignment with the Company&#146;s objective to maximize intrinsic business value on a per share basis. We resolved to suspend, indefinitely, all future option grants under the 2008 Plan, we terminated the 2009 Employee Stock Option Plan, under which no options had been granted, we placed a moratorium on the issuance of restricted stock, and we terminated the ESPP.</font></p> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"></p> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2010</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 70%; text-align: left; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Risk-free interest rate</font></td><td style="width: 10%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="width: 18%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">4.3</font></td><td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">%</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Dividend yield</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">0.0</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">%</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Expected volatility</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">52.4</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">%</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Expected life in years</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">3.0 years</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"></p> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Options</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Weighted<br /> Average<br /> Exercise Price</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Weighted<br /> Average<br /> Remaining<br /> Contractual Life</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Aggregate<br /> Intrinsic Value</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 40%; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Outstanding at September 28, 2011</font></td><td style="width: 3%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="width: 10%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">13,579</font></td><td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="width: 3%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="width: 10%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">282.44</font></td><td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="width: 3%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="width: 10%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="width: 3%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="width: 10%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Exercised</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(1,548</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">244.77</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Canceled or forfeited</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(1,995</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">344.62</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Outstanding at September 26, 2012</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">10,036</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">275.89</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">4.40 years</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">1,003</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Vested or expected to vest at September 26, 2012</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">10,017</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">276.03</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">4.40 years</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">1,000</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Exercisable at September 26, 2012</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">9,836</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">277.43</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">4.46 years</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">989</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif">&#160;</p> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"></p> 0.043 0.00 0.524 P3Y P4Y5M 989000 75000 218000 592000 0 235000 693000 490000 0 51000 235000 <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">The fair value framework as established in ASC paragraph 820-10-50-2 requires the categorization of assets and liabilities into three levels based upon the assumptions (inputs) used to price the assets or liabilities. Level 1 provides the most reliable measure of fair values, whereas Level 3 generally requires significant management judgment. The three levels are defined as follows:</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: top; width: 4%; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#149;</font></td> <td style="vertical-align: bottom; width: 96%; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Level 1: Unadjusted quoted prices in active markets for identical assets and liabilities.</font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#149;</font></td> <td style="vertical-align: bottom; padding-right: 4.5pt; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Level 2: Observable inputs other than those included in Level 1. For example, quoted prices for similar assets or liabilities in active markets or quoted prices for identical assets or liabilities in inactive markets.</font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#149;</font></td> <td style="vertical-align: bottom; padding-right: 4.5pt; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Level 3: Unobservable inputs reflecting management&#146;s own assumptions about the inputs used in pricing the asset or liability.</font></td></tr> </table> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">The following methods and assumptions were used to determine the fair value of each class of the following assets and liabilities recorded at fair value in the Consolidated Balance Sheet.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Cash equivalents: Cash equivalents primarily consist of money market funds which are classified within Level 1 of the fair value hierarchy. The consolidated affiliated partnerships did not hold cash equivalents on September 26, 2012 and September 28, 2011.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Equity securities: The Company&#146;s investments in equity securities are carried at fair value, based on quoted market prices, and are classified within Level 1 of the fair value hierarchy.&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Non-qualified deferred compensation plan investments: The assets of the Non-Qualified Plan are set up in a rabbi trust. They represent mutual funds that are carried at fair value, based on quoted market prices, and are classified within Level 1 of the fair value hierarchy.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Investment held by consolidated affiliated partnership: Investments of $190 and $193 as of September 26, 2012 and September 28, 2011, respectively, have been classified within Level 3 of the fair value hierarchy and represent a private security.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Investment derivatives and interest rate swaps: Investment derivatives and interest rate swaps are marked to market each reporting period with fair value based on readily available market quotes, and are classified within Level 2 of the fair value hierarchy. Interest rate swaps at September 26, 2012 and September 28, 2011 represent the mark to market adjustment for Steak n Shake&#146;s interest rate swap.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">As of September 26, 2012, the fair values of financial assets and liabilities were as follows:</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="text-align: center">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="15" style="text-align: center; border-bottom: Black 1pt solid">September 26, 2012</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="15" style="text-align: center; border-bottom: Black 1pt solid">September 28, 2011</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: right">&#160;</td><td>&#160;</td> <td colspan="3" style="text-align: right">&#160;</td><td>&#160;</td> <td colspan="3" style="text-align: right">&#160;</td><td>&#160;</td> <td colspan="3" style="text-align: right">&#160;</td><td>&#160;</td> <td colspan="3" style="text-align: right">&#160;</td><td>&#160;</td> <td colspan="15" style="text-align: right">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center; padding-bottom: 1pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">Level 1</font></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">Level 2</font></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">Level 3</font></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">Total</font></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">Level 1</font></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">Level 2</font></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">Level 3</font></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">Total</font></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td>Assets</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="width: 28%; text-align: left">Cash equivalents</td><td style="width: 2%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 5%; text-align: right">14,286</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 2%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 5%; text-align: right">&#151;&#160;&#160;</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 2%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 5%; text-align: right">&#151;&#160;&#160;</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 2%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 5%; text-align: right">14,286</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 2%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 5%; text-align: right">-</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 2%">&#160;</td> <td style="width: 1%; text-align: left">&#160;$ </td><td style="width: 5%; text-align: right; vertical-align: bottom">88,022&#160;</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 2%">&#160;</td> <td style="width: 1%; text-align: left">&#160;</td><td style="width: 5%; text-align: right">&#151;&#160;&#160;</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 2%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 5%; text-align: right">88,022</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left">Equity securities:</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td>&#160;&#160;Restaurant/Retail</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">266,940</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#151;&#160;&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#151;&#160;&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">266,940</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">89,971</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#151;&#160;&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#151;&#160;&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">89,971</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td>&#160;&#160;Other</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">2,918</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#151;&#160;&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#151;&#160;&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">2,918</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">25,350</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#151;&#160;&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#151;&#160;&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">25,350</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left">Equity securities held by consolidated affiliated partnerships:</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td>&#160;&#160;Restaurant/Retail</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">11,156</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#151;&#160;&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#151;&#160;&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">11,156</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">7,677</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#151;&#160;&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#151;&#160;&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">7,677</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td>&#160;&#160;Other</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1,805</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#151;&#160;&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#151;&#160;&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1,805</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">10,913</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#151;&#160;&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#151;&#160;&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">10,913</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left">Non-qualified deferred compensation plan investments</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">888</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">888</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">546</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#151;&#160;&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#151;&#160;&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">546</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-bottom: 1pt">Investment held by consolidated affiliated partnership</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">&#151;&#160;&#160;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">&#151;&#160;&#160;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">190</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">190</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">&#151;&#160;&#160;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">&#151;&#160;&#160;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">193</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">193</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-bottom: 1pt">Total assets at fair value</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">297,993</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">&#151;&#160;&#160;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">190</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">298,183</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">134,457</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">88,022&#160;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">193</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">222,672</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td>&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td>Liabilities</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify; padding-bottom: 1pt">Interest rate swaps</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">&#151;&#160;&#160;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">351</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">&#151;&#160;&#160;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">351</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left"></td><td style="border-bottom: Black 1pt solid; text-align: right">&#151;&#160;&#160;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">439</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left"></td><td style="border-bottom: Black 1pt solid; text-align: right">&#151;&#160;&#160;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">439</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-bottom: 1pt">Total liabilities at fair value</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">&#151;&#160;&#160;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">351</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">&#151;&#160;&#160;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">351</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">&#151;&#160;&#160;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">439</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">&#151;&#160;&#160;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">439</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> </table> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">There were no changes in our valuation techniques used to measure fair values on a recurring basis.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">During fiscal years 2012, 2011 and 2010, the Company recorded impairments on long-lived assets of $901, $1,032, and $353, respectively. The fair value of the long-lived assets was determined based on Level 2 inputs using quoted prices for similar properties and quoted prices for the properties from brokers.</font></p> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"></p> 12961000 18590000 11156000 7677000 1805000 10913000 12961000 18590000 888000 546000 888000 546000 888000 546000 14286000 88022000 14286000 88022000 190000 193000 190000 193000 298183000 222672000 297993000 134457000 88022000 190000 193000 351000 439000 351000 439000 901000 1032000 353000 <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">&#160;</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our reportable business segments are organized in a manner that reflects how management views those business activities. Certain businesses have been grouped together for segment reporting based upon operations even though those business units are operated under separate management.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of September 26, 2012, our reportable segments are: (1) Restaurant Operations and (2) Investment Management. Our Restaurant Operations segment includes Steak n Shake and Western. The Company and its affiliates own a percentage of the funds included in our Investment Management segment and receive allocations of investment gains and losses. In addition to the two aforementioned reportable segments, we present information related to the holding company, Biglari Holdings, as Corporate and other.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 3pc">&#160;</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We assess and measure segment operating results based on segment earnings as disclosed below. Segment earnings from operations are not necessarily indicative of cash available to fund cash requirements, nor are they synonymous with cash flow from operations.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The tabular information that follows shows data of our reportable segments reconciled to amounts reflected in the consolidated financial statements. The segments&#146; financial information does not reflect the impact of eliminations arising from intersegment transactions. The eliminations row represents the eliminations required to arrive at our consolidated GAAP reported results.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">A disaggregation of select data from our Consolidated Statements of Earnings for the three most recent years is presented in the tables that follow.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">&#160;</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Net revenue and earnings before income taxes and noncontrolling interests for the years ended September 26, 2012, September 28, 2011, and September 29, 2010 were as follows:</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-indent: -1.2pc">&#160;</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: black 1pt solid">&#160;</td> <td colspan="9" style="border-bottom: black 1pt solid; text-align: center">Net Revenue</td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: center">&#160;</td> <td style="padding-bottom: 1pt; text-align: center">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: center">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: center">2012</td> <td style="padding-bottom: 1pt; text-align: center">&#160;</td> <td style="padding-bottom: 1pt; text-align: center">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: center">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: center">2011</td> <td style="padding-bottom: 1pt; text-align: center">&#160;</td> <td style="padding-bottom: 1pt; text-align: center">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: center">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: center">2010</td></tr> <tr style="vertical-align: bottom"> <td>Operating Business:</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: 0.2pt">Restaurant Operations:</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="width: 47%; text-indent: 0.25pt">Steak n Shake</td> <td style="width: 5%">&#160;</td> <td style="width: 1%">$</td> <td style="width: 11%; text-align: right">718,010</td> <td style="width: 1%">&#160;</td> <td style="width: 5%">&#160;</td> <td style="width: 1%">$</td> <td style="width: 11%; text-align: right">689,325</td> <td style="width: 1%">&#160;</td> <td style="width: 5%">&#160;</td> <td style="width: 1%">$</td> <td style="width: 11%; text-align: right">662,891</td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-indent: 0.25pt">Western</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: black 1pt solid">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right">15,895</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: black 1pt solid">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right">16,078</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: black 1pt solid">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right">8,755</td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; padding-left: 10pt; text-indent: -1.2pc">&#160;&#160;Total Restaurant Operations</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: black 1pt solid">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right">733,905</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: black 1pt solid">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right">705,403</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: black 1pt solid">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right">671,646</td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -1.2pc">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="padding-left: 10pt; text-indent: -1.2pc">&#160;&#160;Investment Management:</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: 0.25pt">Management fees</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#151;&#160;&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">224</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">233</td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-indent: 0.25pt">Consolidated affiliated partnerships</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: black 1pt solid">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right">6,302</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: black 1pt solid">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right">3,573</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: black 1pt solid">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right">1,902</td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; padding-left: 10pt; text-indent: -1.2pc">&#160;&#160;Total Investment Management Operations</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: black 1pt solid">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right">6,302</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: black 1pt solid">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right">3,797</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: black 1pt solid">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right">2,135</td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 2.5pt; text-indent: -1.2pc">&#160;</td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">740,207</td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">709,200</td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">673,781</td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;&#160;</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="text-align: center">&#160;</td> <td style="padding-bottom: 1pt; text-align: center">&#160;</td> <td colspan="11" style="border-bottom: black 1pt solid; text-align: center">Earnings before income taxes and noncontrolling interests</td> <td style="padding-bottom: 1pt; text-align: center">&#160;</td> <td colspan="11" style="border-bottom: black 1pt solid; text-align: center">Net earnings attributable to Biglari Holdings Inc</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#160;</td> <td style="padding-bottom: 1pt; text-align: center">&#160;</td> <td colspan="3" style="border-bottom: black 1pt solid; text-align: center">2012</td> <td style="padding-bottom: 1pt; text-align: center">&#160;</td> <td colspan="3" style="border-bottom: black 1pt solid; text-align: center">2011</td> <td style="padding-bottom: 1pt; text-align: center">&#160;</td> <td colspan="3" style="border-bottom: black 1pt solid; text-align: center">2010</td> <td style="padding-bottom: 1pt; text-align: center">&#160;</td> <td colspan="3" style="border-bottom: black 1pt solid; text-align: center">2012</td> <td style="padding-bottom: 1pt; text-align: center">&#160;</td> <td colspan="3" style="border-bottom: black 1pt solid; text-align: center">2011</td> <td style="padding-bottom: 1pt; text-align: center">&#160;</td> <td colspan="3" style="border-bottom: black 1pt solid; text-align: center">2010</td></tr> <tr style="vertical-align: bottom"> <td style="width: 40%">Operating Business:</td> <td style="width: 2%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 6%; text-align: right">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 2%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 6%; text-align: right">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 2%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 6%; text-align: right">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 2%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 6%; text-align: right">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 2%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 6%; text-align: right">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 2%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 6%; text-align: right">&#160;</td> <td style="width: 1%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: 0.2pt">Restaurant Operations:</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: 0.25pt">Steak n Shake</td> <td>&#160;</td> <td>$</td> <td style="text-align: right">45,622</td> <td>&#160;</td> <td>&#160;</td> <td>$</td> <td style="text-align: right">41,247</td> <td>&#160;</td> <td>&#160;</td> <td>$</td> <td style="text-align: right">38,316</td> <td>&#160;</td> <td>&#160;</td> <td>$</td> <td style="text-align: right">31,756</td> <td>&#160;</td> <td>&#160;</td> <td>$</td> <td style="text-align: right">29,367</td> <td>&#160;</td> <td>&#160;</td> <td>$</td> <td style="text-align: right">27,257</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-indent: 0.25pt">Western</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: black 1pt solid">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right">2,157</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: black 1pt solid">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right">2,455</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: black 1pt solid">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right">1,038</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: black 1pt solid">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right">1,354</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: black 1pt solid">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right">1,610</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: black 1pt solid">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right">646</td> <td style="padding-bottom: 1pt">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; padding-left: 10pt; text-indent: -1.2pc">&#160;&#160;Total Restaurant Operations</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: black 1pt solid">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right">47,779</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: black 1pt solid">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right">43,702</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: black 1pt solid">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right">39,354</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: black 1pt solid">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right">33,110</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: black 1pt solid">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right">30,977</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: black 1pt solid">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right">27,903</td> <td style="padding-bottom: 1pt">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -1.2pc">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="padding-left: 10pt; text-indent: -1.2pc">&#160;&#160;Investment Management: &#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: 0.25pt">Biglari Capital Corp. (Incentive Fee)</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">36</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">2,510</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#151;&#160;&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">22</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">1,535</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#151;&#160;&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: 0.25pt">Management fees</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#151;&#160;&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">224</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">233</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#151;&#160;&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">139</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">144</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-indent: 0.25pt">Consolidated affiliated partnerships</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: black 1pt solid">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right">5,319</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: black 1pt solid">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right">3,370</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: black 1pt solid">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right">1,775</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: black 1pt solid">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right">1,321</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: black 1pt solid">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right">1,815</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: black 1pt solid">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right">215</td> <td style="padding-bottom: 1pt">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; padding-left: 10pt; text-indent: -1.2pc">&#160;&#160;Total Investment Management Operations</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: black 1pt solid">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right">5,355</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: black 1pt solid">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right">6,104</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: black 1pt solid">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right">2,008</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: black 1pt solid">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right">1,343</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: black 1pt solid">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right">3,489</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: black 1pt solid">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right">359</td> <td style="padding-bottom: 1pt">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -1.2pc">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom"> <td>Corporate and Other:</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.9pt">Corporate and other</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">(15,990</td> <td>)</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">(4,624)</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">(2,087)</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">(9,196</td> <td>)</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">(3,099)</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">(1,510)</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-indent: -0.9pt">Investment and derivative gains/losses</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: black 1pt solid">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right">4,200</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: black 1pt solid">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right">7,970</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: black 1pt solid">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right">4,024</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: black 1pt solid">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right">2,604</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: black 1pt solid">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right">4,941</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: black 1pt solid">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right">2,495</td> <td style="padding-bottom: 1pt">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; padding-left: 10pt; text-indent: -1.2pc">&#160;&#160;Total Corporate and Other</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: black 1pt solid">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right">(11,790</td> <td style="padding-bottom: 1pt">)</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: black 1pt solid">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right">3,346</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: black 1pt solid">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right">1,937</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: black 1pt solid">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right">(6,592</td> <td style="padding-bottom: 1pt">)</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: black 1pt solid">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right">1,842</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: black 1pt solid">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right">985</td> <td style="padding-bottom: 1pt">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -1.2pc">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom"> <td>Reconciliation of segments to consolidated amount:</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.9pt">Eliminations</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">(36</td> <td>)</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">(2,510)</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#151;&#160;&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#151;&#160;&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#151;&#160;&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#151;&#160;&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-indent: -0.9pt">Interest expense and loss on debt extinguishment, excluding interest allocated to operating businesses</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: black 1pt solid">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right">(10,110</td> <td style="padding-bottom: 1pt">)</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: black 1pt solid">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right">(2,811)</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: black 1pt solid">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right">(1,859)</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: black 1pt solid">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right">(6,268</td> <td style="padding-bottom: 1pt">)</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: black 1pt solid">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right">(1,743)</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: black 1pt solid">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right">(1,153)</td> <td style="padding-bottom: 1pt">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 2.5pt; text-indent: -1.2pc">&#160;</td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">31,198</td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">47,831</td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">41,440</td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">21,593</td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">34,565</td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">28,094</td> <td style="padding-bottom: 2.5pt">&#160;</td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;&#160;&#160;&#160;</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The earnings presentation was adjusted from the prior years to show interest expense, excluding interest allocated to operating businesses, as a reconciliation of segments to consolidated amounts in order to more accurately reflect the earnings before and after tax of the Restaurant Operations.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;&#160;</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">A disaggregation of our consolidated capital expenditure, depreciation, and amortization captions for fiscal years ended September 26, 2012, September 28, 2011, and September 29, 2010 is presented in the table that follows.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td>&#160;</td> <td colspan="5" style="border-bottom: windowtext 1pt solid; text-align: center">Capital Expenditures</td> <td style="text-align: center">&#160;</td> <td colspan="5" style="border-bottom: windowtext 1pt solid; text-align: center">Depreciation and Amortization</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#160;</td> <td style="text-align: center">2012</td> <td style="text-align: center">&#160;</td> <td style="border-bottom: windowtext 1pt solid; text-align: center">2011</td> <td style="text-align: center">&#160;</td> <td style="border-bottom: windowtext 1pt solid; text-align: center">2010</td> <td style="text-align: center">&#160;</td> <td style="border-bottom: windowtext 1pt solid; text-align: center">2012</td> <td style="text-align: center">&#160;</td> <td style="text-align: center">2011</td> <td style="text-align: center">&#160;</td> <td style="text-align: center">2010</td></tr> <tr> <td>Reportable segments:</td> <td style="border-top: windowtext 1pt solid">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td style="text-align: justify">&#160;</td> <td style="text-align: right">&#160;</td> <td style="border-top: windowtext 1pt solid; text-align: justify">&#160;</td> <td style="text-align: right">&#160;</td> <td style="border-top: windowtext 1pt solid; text-align: justify">&#160;</td></tr> <tr> <td>&#160;&#160;&#160;&#160; Restaurant Operations:</td> <td style="text-align: right">&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td style="text-align: right">&#160;</td> <td style="text-align: justify">&#160;</td> <td style="text-align: right">&#160;</td> <td style="text-align: justify">&#160;</td> <td style="text-align: right">&#160;</td> <td style="text-align: justify">&#160;</td></tr> <tr> <td>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Steak n Shake&#160;&#160;</td> <td style="text-align: right">$&#160;&#160;&#160;&#160;&#160;&#160; 7,513</td> <td style="text-align: right">&#160;</td> <td style="text-align: right">$11,092</td> <td style="text-align: right">&#160;</td> <td style="text-align: right">$&#160;&#160;&#160;&#160;&#160;&#160; 6,061</td> <td style="text-align: right">&#160;</td> <td style="text-align: right">$&#160;&#160;&#160;&#160; 25,432</td> <td style="text-align: right">&#160;</td> <td style="text-align: right">$&#160;&#160;&#160;&#160; 27,279</td> <td style="text-align: right">&#160;</td> <td style="text-align: right">$&#160;&#160;&#160;&#160; 28,696</td></tr> <tr> <td>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Western&#160;&#160;</td> <td style="text-align: right">58</td> <td style="text-align: right">&#160;</td> <td style="text-align: right">18</td> <td style="text-align: right">&#160;</td> <td style="text-align: right">&#160;&#151;&#160;</td> <td style="text-align: right">&#160;</td> <td style="text-align: right">729</td> <td style="text-align: right">&#160;</td> <td style="text-align: right">785</td> <td style="text-align: right">&#160;</td> <td style="text-align: right">431</td></tr> <tr> <td>&#160;&#160;&#160;&#160; Investment Management&#160;</td> <td style="text-align: right">&#160;&#151;&#160;</td> <td style="text-align: right">&#160;</td> <td style="text-align: right">&#160;&#151;&#160;</td> <td style="text-align: right">&#160;</td> <td style="text-align: right">&#160;&#151;&#160;</td> <td style="text-align: right">&#160;</td> <td style="text-align: right">&#160;&#151;&#160;&#160;&#160;</td> <td style="text-align: right">&#160;</td> <td style="text-align: right">27</td> <td style="text-align: right">&#160;</td> <td style="text-align: right">33</td></tr> <tr> <td>Corporate and other&#160;&#160;</td> <td style="border-bottom: windowtext 1pt solid; text-align: right">1,104</td> <td style="text-align: right">&#160;</td> <td style="border-bottom: windowtext 1pt solid; text-align: right">1,908</td> <td style="text-align: right">&#160;</td> <td style="border-bottom: windowtext 1pt solid; text-align: right">2,589</td> <td style="text-align: right">&#160;</td> <td style="border-bottom: windowtext 1pt solid; text-align: right">263</td> <td style="text-align: right">&#160;</td> <td style="border-bottom: windowtext 1pt solid; text-align: right">270</td> <td style="text-align: right">&#160;</td> <td style="border-bottom: windowtext 1pt solid; text-align: right">98</td></tr> <tr> <td>Consolidated Results</td> <td style="border-bottom: windowtext 2.25pt double; text-align: right">$&#160;&#160;&#160;&#160;&#160;&#160; 8,675</td> <td style="text-align: right">&#160;</td> <td style="border-bottom: windowtext 2.25pt double; text-align: right">$&#160;&#160;&#160;&#160; 13,018</td> <td style="text-align: right">&#160;</td> <td style="border-bottom: windowtext 2.25pt double; text-align: right">$&#160;&#160;&#160;&#160;&#160;&#160; 8,650</td> <td style="text-align: right">&#160;</td> <td style="border-bottom: windowtext 2.25pt double; text-align: right">$&#160;&#160;&#160;&#160; 26,424</td> <td style="text-align: right">&#160;</td> <td style="border-bottom: windowtext 2.25pt double; text-align: right">$&#160;&#160;&#160;&#160; 28,361</td> <td style="text-align: right">&#160;</td> <td style="border-bottom: windowtext 2.25pt double; text-align: right">$&#160;&#160;&#160;&#160; 29,258</td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;&#160;</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">A disaggregation of our consolidated asset captions as of September 26, 2012 and September 28, 2011 is presented in the table that follows.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="text-align: center">&#160;</td> <td colspan="3" style="border-bottom: windowtext 1pt solid; text-align: center">Goodwill</td> <td style="border-bottom: windowtext 1pt solid; text-align: center">&#160;</td> <td colspan="3" style="border-bottom: windowtext 1pt solid; text-align: center">Identifiable Assets&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#160;</td> <td style="border-bottom: windowtext 1pt solid; text-align: center">2012</td> <td style="text-align: center">&#160;</td> <td style="border-bottom: windowtext 1pt solid; text-align: center">2011</td> <td style="text-align: center">&#160;</td> <td style="border-bottom: windowtext 1pt solid; text-align: center">2012</td> <td style="text-align: center">&#160;</td> <td style="border-bottom: windowtext 1pt solid; text-align: center">2011</td></tr> <tr> <td>Reportable segments:</td> <td style="text-align: right">&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td></tr> <tr> <td>&#160;&#160;&#160;&#160; Restaurant Operations&#160;</td> <td style="text-align: right">&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td> <td>&#160;</td></tr> <tr> <td>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Steak n Shake&#160;&#160;</td> <td style="text-align: right">$&#160;&#160;&#160;&#160; 14,503</td> <td style="text-align: right">&#160;</td> <td style="text-align: right">$&#160;&#160;&#160;&#160; 14,503</td> <td style="text-align: right">&#160;</td> <td style="text-align: right">$&#160;&#160; 433,382</td> <td style="text-align: right">&#160;</td> <td style="text-align: right">$&#160;&#160; 406,619</td></tr> <tr> <td>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Western&#160;&#160;</td> <td style="text-align: right">13,026</td> <td style="text-align: right">&#160;</td> <td style="text-align: right">13,026</td> <td style="text-align: right">&#160;</td> <td style="text-align: right">7,526</td> <td style="text-align: right">&#160;</td> <td style="text-align: right">7,919</td></tr> <tr> <td>&#160;&#160;&#160;&#160; Investment Management&#160;&#160;</td> <td style="text-align: right">&#160;&#151;&#160;</td> <td style="text-align: right">&#160;</td> <td style="text-align: right">&#160;&#151;&#160;</td> <td style="text-align: right">&#160;</td> <td style="text-align: right">26,348</td> <td style="text-align: right">&#160;</td> <td style="text-align: right">19,186</td></tr> <tr> <td>Corporate and other&#160;&#160;</td> <td style="text-align: right">&#160;&#151;&#160;</td> <td style="text-align: right">&#160;</td> <td style="text-align: right">&#160;&#151;&#160;</td> <td style="text-align: right">&#160;</td> <td style="text-align: right">279,002</td> <td style="vertical-align: top; text-align: right">&#160;</td> <td style="text-align: right">211,607</td></tr> <tr> <td>Consolidated results&#160;&#160;</td> <td style="border-top: windowtext 1pt solid; border-bottom: windowtext 1pt solid; text-align: right">$&#160;&#160;&#160;&#160; 27,529</td> <td style="text-align: right">&#160;</td> <td style="border-top: windowtext 1pt solid; border-bottom: windowtext 1pt solid; text-align: right">$&#160;&#160;&#160;&#160; 27,529</td> <td style="text-align: right">&#160;</td> <td style="border-top: windowtext 1pt solid; border-bottom: windowtext 1pt solid; text-align: right">$&#160;&#160; 746,258</td> <td style="text-align: right">&#160;</td> <td style="border-top: windowtext 1pt solid; border-bottom: windowtext 1pt solid; text-align: right">$&#160;&#160; 645,331</td></tr> <tr> <td>Reconciliation of segments to consolidated amount:</td> <td style="text-align: right">&#160;</td> <td style="text-align: right">&#160;</td> <td style="text-align: right">&#160;</td> <td style="text-align: right">&#160;</td> <td style="text-align: right">&#160;</td> <td style="text-align: right">&#160;</td> <td style="text-align: right">&#160;</td></tr> <tr> <td>Goodwill&#160;&#160;</td> <td style="text-align: right">&#160;</td> <td style="text-align: right">&#160;</td> <td style="text-align: right">&#160;</td> <td style="text-align: right">&#160;</td> <td style="border-bottom: windowtext 1pt solid; text-align: right">27,529</td> <td style="text-align: right">&#160;</td> <td style="border-bottom: windowtext 1pt solid; text-align: right">27,529</td></tr> <tr> <td>Total assets</td> <td style="text-align: right">&#160;</td> <td style="text-align: right">&#160;</td> <td style="text-align: right">&#160;</td> <td style="text-align: right">&#160;</td> <td style="border-bottom: windowtext 2.25pt double; text-align: right">$&#160;&#160; 773,787</td> <td style="text-align: right">&#160;</td> <td style="border-bottom: windowtext 2.25pt double; text-align: right">$&#160;&#160; 672,860</td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">&#160;</p> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"></font></p> <p style="margin: 0pt">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="line-height: 115%">&#160;</td> <td colspan="5" style="border-bottom: windowtext 1pt solid; line-height: 115%; text-align: center">Capital Expenditures</td> <td style="line-height: 115%; text-align: center">&#160;</td> <td colspan="5" style="border-bottom: windowtext 1pt solid; line-height: 115%; text-align: center">Depreciation and Amortization</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 115%; text-align: center">&#160;</td> <td style="line-height: 115%; text-align: center">2012</td> <td style="line-height: 115%; text-align: center">&#160;</td> <td style="border-bottom: windowtext 1pt solid; line-height: 115%; text-align: center">2011</td> <td style="line-height: 115%; text-align: center">&#160;</td> <td style="border-bottom: windowtext 1pt solid; line-height: 115%; text-align: center">2010</td> <td style="line-height: 115%; text-align: center">&#160;</td> <td style="border-bottom: windowtext 1pt solid; line-height: 115%; text-align: center">2012</td> <td style="line-height: 115%; text-align: center">&#160;</td> <td style="line-height: 115%; text-align: center">2011</td> <td style="line-height: 115%; text-align: center">&#160;</td> <td style="line-height: 115%; text-align: center">2010</td></tr> <tr> <td style="line-height: 115%">Reportable segments:</td> <td style="border-top: windowtext 1pt solid; line-height: 115%">&#160;</td> <td style="line-height: 115%">&#160;</td> <td style="line-height: 115%">&#160;</td> <td style="line-height: 115%">&#160;</td> <td style="line-height: 115%">&#160;</td> <td style="line-height: 115%; text-align: right">&#160;</td> <td style="line-height: 115%; text-align: justify">&#160;</td> <td style="line-height: 115%; text-align: right">&#160;</td> <td style="border-top: windowtext 1pt solid; line-height: 115%; text-align: justify">&#160;</td> <td style="line-height: 115%; text-align: right">&#160;</td> <td style="border-top: windowtext 1pt solid; line-height: 115%; text-align: justify">&#160;</td></tr> <tr> <td style="line-height: 115%">&#160;&#160;&#160;&#160; Restaurant Operations:</td> <td style="line-height: 115%; text-align: right">&#160;</td> <td style="line-height: 115%; text-align: right">&#160;</td> <td style="line-height: 115%">&#160;</td> <td style="line-height: 115%">&#160;</td> <td style="line-height: 115%; text-align: right">&#160;</td> <td style="line-height: 115%; text-align: right">&#160;</td> <td style="line-height: 115%; text-align: justify">&#160;</td> <td style="line-height: 115%; text-align: right">&#160;</td> <td style="line-height: 115%; text-align: justify">&#160;</td> <td style="line-height: 115%; text-align: right">&#160;</td> <td style="line-height: 115%; text-align: justify">&#160;</td></tr> <tr> <td style="line-height: 115%">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Steak n Shake&#160;</td> <td style="line-height: 115%; text-align: right">$&#160;&#160;&#160;&#160;&#160;&#160; 7,513</td> <td>&#160;</td> <td style="line-height: 115%; text-align: right">$11,092</td> <td style="line-height: 115%; text-align: right">&#160;</td> <td style="line-height: 115%; text-align: right">$&#160;&#160;&#160;&#160;&#160;&#160; 6,061</td> <td style="line-height: 115%; text-align: right">&#160;</td> <td style="line-height: 115%; text-align: right">$&#160;&#160;&#160;&#160; 25,432</td> <td style="line-height: 115%; text-align: right">&#160;</td> <td style="line-height: 115%; text-align: right">$&#160;&#160;&#160;&#160; 27,279</td> <td style="line-height: 115%; text-align: right">&#160;</td> <td style="line-height: 115%; text-align: right">$&#160;&#160;&#160;&#160; 28,696</td></tr> <tr> <td style="line-height: 115%">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Western&#160;&#160;</td> <td style="line-height: 115%; text-align: right">58</td> <td style="line-height: 115%; text-align: right">&#160;</td> <td style="line-height: 115%; text-align: right">18</td> <td style="line-height: 115%; text-align: right">&#160;</td> <td style="line-height: 115%; text-align: right">&#160;&#151;&#160;</td> <td style="line-height: 115%; text-align: right">&#160;</td> <td style="line-height: 115%; text-align: right">729</td> <td style="line-height: 115%; text-align: right">&#160;</td> <td style="line-height: 115%; text-align: right">785</td> <td style="line-height: 115%; text-align: right">&#160;</td> <td style="line-height: 115%; text-align: right">431</td></tr> <tr> <td style="line-height: 115%">&#160;&#160;&#160;&#160; Investment Management&#160;</td> <td style="line-height: 115%; text-align: right">&#160;&#151;&#160;</td> <td style="line-height: 115%; text-align: right">&#160;</td> <td style="line-height: 115%; text-align: right">&#160;&#151;&#160;</td> <td style="line-height: 115%; text-align: right">&#160;</td> <td style="line-height: 115%; text-align: right">&#160;&#151;&#160;</td> <td style="line-height: 115%; text-align: right">&#160;</td> <td style="line-height: 115%; text-align: right">&#160;&#151;&#160;&#160;&#160;</td> <td style="line-height: 115%; text-align: right">&#160;</td> <td style="line-height: 115%; text-align: right">27</td> <td style="line-height: 115%; text-align: right">&#160;</td> <td style="line-height: 115%; text-align: right">33</td></tr> <tr> <td style="line-height: 115%">Corporate and other&#160;&#160;</td> <td style="border-bottom: windowtext 1pt solid; line-height: 115%; text-align: right">1,104</td> <td style="line-height: 115%; text-align: right">&#160;</td> <td style="border-bottom: windowtext 1pt solid; line-height: 115%; text-align: right">1,908</td> <td style="line-height: 115%; text-align: right">&#160;</td> <td style="border-bottom: windowtext 1pt solid; line-height: 115%; text-align: right">2,589</td> <td style="line-height: 115%; text-align: right">&#160;</td> <td style="border-bottom: windowtext 1pt solid; line-height: 115%; text-align: right">263</td> <td style="line-height: 115%; text-align: right">&#160;</td> <td style="border-bottom: windowtext 1pt solid; line-height: 115%; text-align: right">270</td> <td style="line-height: 115%; text-align: right">&#160;</td> <td style="border-bottom: windowtext 1pt solid; line-height: 115%; text-align: right">98</td></tr> <tr> <td style="line-height: 115%">Consolidated Results</td> <td style="border-bottom: windowtext 2.25pt double; line-height: 115%; text-align: right">$&#160;&#160;&#160;&#160;&#160;&#160; 8,675</td> <td style="line-height: 115%; text-align: right">&#160;</td> <td style="border-bottom: windowtext 2.25pt double; line-height: 115%; text-align: right">$&#160;&#160;&#160;&#160; 13,018</td> <td style="line-height: 115%; text-align: right">&#160;</td> <td style="border-bottom: windowtext 2.25pt double; line-height: 115%; text-align: right">$&#160;&#160;&#160;&#160;&#160;&#160; 8,650</td> <td style="line-height: 115%; text-align: right">&#160;</td> <td style="border-bottom: windowtext 2.25pt double; line-height: 115%; text-align: right">$&#160;&#160;&#160;&#160; 26,424</td> <td style="line-height: 115%; text-align: right">&#160;</td> <td style="border-bottom: windowtext 2.25pt double; line-height: 115%; text-align: right">$&#160;&#160;&#160;&#160; 28,361</td> <td style="line-height: 115%; text-align: right">&#160;</td> <td style="border-bottom: windowtext 2.25pt double; line-height: 115%; text-align: right">$&#160;&#160;&#160;&#160; 29,258</td></tr> </table> <p style="margin: 0pt"></p> <p style="margin: 0pt">&#160;</p> <table border="0" cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font: 8pt Times New Roman, Times, Serif"> <tr style="vertical-align: middle; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: center; font: 8pt Times New Roman, Times, Serif; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="border-bottom: windowtext 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">Goodwill</font></td> <td style="border-bottom: windowtext 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="border-bottom: windowtext 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">Identifiable Assets&#160;</font></td></tr> <tr style="vertical-align: middle; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: center; font: 8pt Times New Roman, Times, Serif; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: windowtext 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">2012</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: windowtext 1pt solid; font: 8pt Times New Roman, Times, Serif; border-top-color: windowtext; border-top-width: 1pt; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">2011</font></td> <td style="text-align: center; font: 8pt Times New Roman, Times, Serif; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: windowtext 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">2012</font></td> <td style="text-align: center; font: 8pt Times New Roman, Times, Serif; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: windowtext 1pt solid; font: 8pt Times New Roman, Times, Serif; border-top-color: windowtext; border-top-width: 1pt; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">2011</font></td></tr> <tr style="vertical-align: middle; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Reportable segments: </font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-top-color: windowtext; border-top-width: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-top-color: windowtext; border-top-width: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: middle; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160; Restaurant Operations&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: middle; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Steak n Shake&#160;&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">$&#160;&#160;&#160;&#160; 14,503</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">$&#160;&#160;&#160;&#160; 14,503</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">$&#160;&#160; 433,382</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$&#160;&#160; 406,619</font></td></tr> <tr style="vertical-align: middle; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Western&#160;&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">13,026</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">13,026</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">7,526</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">7,919</font></td></tr> <tr style="vertical-align: middle; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160; Investment Management&#160;&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#151;&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#151;&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">26,348</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">19,186</font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: middle; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Corporate and other&#160;&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; vertical-align: middle; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#151;&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; vertical-align: middle; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: middle; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#151;&#160;</font></td> <td style="vertical-align: middle; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; vertical-align: middle; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">279,002</font></td> <td style="vertical-align: top; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: middle; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">211,607</font></td></tr> <tr style="vertical-align: middle; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Consolidated results&#160;&#160;</font></td> <td style="border-top: windowtext 1pt solid; border-bottom: windowtext 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">$&#160;&#160;&#160;&#160; 27,529</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-top: windowtext 1pt solid; border-bottom: windowtext 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">$&#160;&#160;&#160;&#160; 27,529</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-top: windowtext 1pt solid; border-bottom: windowtext 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">$&#160;&#160; 746,258</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-top: windowtext 1pt solid; border-bottom: windowtext 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">$&#160;&#160; 645,331</font></td></tr> <tr style="vertical-align: middle; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">Reconciliation of segments to consolidated amount:</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; border-top-color: windowtext; border-top-width: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; border-top-color: windowtext; border-top-width: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: middle; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Goodwill&#160;&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: windowtext 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">27,529</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: windowtext 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">27,529</font></td></tr> <tr style="vertical-align: middle; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">Total assets <font style="font-variant: normal; color: black"> </font></font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: windowtext 2pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">$&#160;&#160; 773,787</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: windowtext 2pt double; font: 8pt Times New Roman, Times, Serif; text-align: right; border-top-color: windowtext; border-top-width: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">$&#160;&#160; 672,860</font></td></tr> </table> <p style="margin: 0pt"></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="padding-bottom: 1pt; text-indent: -0.2in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td colspan="9" style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">Net Revenue</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; width: 46%"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; width: 5%"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center; width: 11%; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">2012</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: left; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; width: 5%"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center; width: 11%; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">2011</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; width: 5%"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center; width: 11%; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">2010</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">Operating Business:</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; text-indent: 0.2pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Restaurant Operations:</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left; text-indent: 0.25pt"><font style="font: 8pt Times New Roman, Times, Serif">Steak n Shake</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">718,010</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">689,325</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">662,891</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="padding-bottom: 1pt; text-indent: 0.25pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Western</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">15,895</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">16,078</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">8,755</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-bottom: 1pt; text-indent: -0.2in; padding-left: 10pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;Total Restaurant Operations</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">733,905</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">705,403</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">671,646</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: -0.2in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; text-indent: -0.2in; padding-left: 10pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;Investment Management:</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; text-indent: 0.25pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Management fees</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#151;&#160;&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">224</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">233</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 0.25pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Consolidated affiliated partnerships</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">6,302</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">3,573</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,902</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-bottom: 1pt; text-indent: -0.2in; padding-left: 10pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;Total Investment Management Operations </font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">6,302</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">3,797</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">2,135</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="padding-bottom: 2.5pt; text-indent: -0.2in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">740,207</font></td><td style="padding-bottom: 2.5pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 2.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">709,200</font></td><td style="padding-bottom: 2.5pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 2.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">673,781</font></td><td style="padding-bottom: 2.5pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: center; vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="11" style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">Earnings before income taxes and noncontrolling interests</font></td><td style="padding-bottom: 1pt; text-align: center; vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="11" style="text-align: center; vertical-align: bottom; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Net earnings attributable to Biglari Holdings Inc</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">2012</font></td><td style="padding-bottom: 1pt; text-align: center; vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">2011</font></td><td style="padding-bottom: 1pt; text-align: center; vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">2010</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">2012</font></td><td style="padding-bottom: 1pt; text-align: center; vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">2011</font></td><td style="padding-bottom: 1pt; text-align: center; vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">2010</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">Operating Business:</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; text-indent: 0.2pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Restaurant Operations:</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 40%; text-align: left; text-indent: 0.25pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Steak n Shake</font></td><td style="width: 2%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="width: 6%; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">45,622</font></td><td style="width: 1%; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="width: 2%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="width: 6%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">41,247</font></td><td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="width: 2%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="width: 6%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">38,316</font></td><td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="width: 2%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="width: 6%; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">31,756</font></td><td style="width: 1%; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="width: 2%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="width: 6%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">29,367</font></td><td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="width: 2%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="width: 6%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">27,257</font></td><td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="padding-bottom: 1pt; text-indent: 0.25pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Western</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">2,157</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">2,455</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,038</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,354</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,610</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">646</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-bottom: 1pt; text-indent: -0.2in; padding-left: 10pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;Total Restaurant Operations</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">47,779</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">43,702</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">39,354</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">33,110</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">30,977</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">27,903</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160; </font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: -0.2in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; text-indent: -0.2in; padding-left: 10pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;Investment Management: &#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; text-indent: 0.25pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Biglari Capital Corp. (Incentive Fee)</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">36</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2,510</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#151;&#160;&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">22</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">1,535</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#151;&#160;&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; text-indent: 0.25pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Management fees</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#151;&#160;&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">224</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">233</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#151;&#160;&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">139</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">144</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 0.25pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Consolidated affiliated partnerships </font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">5,319</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">3,370</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,775</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,321</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,815</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">215</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-bottom: 1pt; text-indent: -0.2in; padding-left: 10pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;Total Investment Management Operations</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">5,355</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">6,104</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">2,008</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,343</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">3,489</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">359</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: -0.2in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">Corporate and Other:</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; text-indent: -0.9pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Corporate and other</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(15,990</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(4,624)</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(2,087)</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(9,196</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(3,099)</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(1,510)</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-bottom: 1pt; text-indent: -0.9pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Investment and derivative gains/losses</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">4,200</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">7,970</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">4,024</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">2,604</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">4,941</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">2,495</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font> </td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-bottom: 1pt; text-indent: -0.2in; padding-left: 10pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;Total Corporate and Other</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(11,790</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">3,346</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,937</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(6,592</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,842</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">985</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: -0.2in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">Reconciliation of segments to consolidated amount:</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: -0.9pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Eliminations</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(36</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(2,510)</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#151;&#160;&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#151;&#160;&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#151;&#160;&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#151;&#160;&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-bottom: 1pt; text-indent: -0.9pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Interest expense and loss on debt extinguishment, excluding interest allocated to operating businesses </font> </td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(10,110</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(2,811)</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(1,859)</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(6,268</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(1,743)</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(1,153)</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="padding-bottom: 2.5pt; text-indent: -0.2in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">31,198</font></td><td style="padding-bottom: 2.5pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 2.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">47,831</font></td><td style="padding-bottom: 2.5pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 2.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">41,440</font></td><td style="padding-bottom: 2.5pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">21,593</font></td><td style="padding-bottom: 2.5pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 2.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">34,565</font></td><td style="padding-bottom: 2.5pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 2.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">28,094</font></td><td style="padding-bottom: 2.5pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 40%; font: 8pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="width: 3%; font: 8pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="width: 10%; font: 8pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">1st</font></td><td style="width: 1%; font: 8pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"></td><td style="width: 3%; font: 8pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="width: 10%; font: 8pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">2nd</font></td><td style="width: 1%; font: 8pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"></td><td style="width: 3%; font: 8pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="width: 10%; font: 8pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">3rd</font></td><td style="width: 1%; font: 8pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"></td><td style="width: 3%; font: 8pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="width: 10%; font: 8pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">4th</font></td><td style="width: 1%; font: 8pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">Quarter</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">Quarter</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">Quarter</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">Quarter</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">For the year ended September 26, 2012 (52 weeks) <font style="font-variant: normal; color: black">⁽¹⁾</font></font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">Total net revenues</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">166,390</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">223,684</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">175,773</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">174,360</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">Gross profit <font style="font-variant: normal; color: black">⁽²⁾ </font></font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">42,129</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">52,279</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">40,990</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">41,217</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">Costs and expenses<font style="font-variant: normal; color: black"> </font></font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">151,678</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">211,536</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">167,884</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">165,928</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">Earnings before income taxes </font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">14,753</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">7,667</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">4,986</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">3,792</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">Net earnings attributable to Biglari Holdings Inc.</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">8,795</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">4,528</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">4,853</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">3,417</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">Basic earnings per common share</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">6.60</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">3.39</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">3.64</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">2.56</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">Diluted earnings per common share</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">6.58</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">3.39</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">3.63</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">2.56</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">For the year ended September 28, 2011 (52 weeks) <font style="font-variant: normal; color: black">⁽¹⁾</font></font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Total net revenues</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">158,722</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">211,277</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">170,861</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">168,340</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Gross profit <font style="font-variant: normal; color: black">⁽²⁾ </font></font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">39,090</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">47,713</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">40,432</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">43,236</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Costs and expenses<font style="font-variant: normal; color: black"> </font></font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">145,690</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">199,225</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">157,692</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">154,098</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Earnings before income taxes</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">13,106</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">8,440</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">11,151</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">15,134</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Net earnings attributable to Biglari Holdings Inc.</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">9,463</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">5,645</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">8,676</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">10,781</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Basic earnings per common share</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">7.13</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">4.25</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">6.52</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">8.09</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Diluted earnings per common share</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">7.08</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">4.23</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">6.49</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">8.08</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"></p> <table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font: 8pt Times New Roman, Times, Serif"> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: top; width: 3%; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(1)</font></td> <td style="vertical-align: bottom; width: 97%; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Our fiscal year includes quarters consisting of 12, 16, 12 and 12 weeks, respectively.</font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(2)</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">We define Gross profit as Net sales less Cost of sales and Restaurant operating costs, which excludes Depreciation and amortization.</font></td></tr> </table> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"></p> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 40%; font: 8pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="width: 3%; font: 8pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="width: 10%; font: 8pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">1st</font></td><td style="width: 1%; font: 8pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"></td><td style="width: 3%; font: 8pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="width: 10%; font: 8pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">2nd</font></td><td style="width: 1%; font: 8pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"></td><td style="width: 3%; font: 8pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="width: 10%; font: 8pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">3rd</font></td><td style="width: 1%; font: 8pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"></td><td style="width: 3%; font: 8pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="width: 10%; font: 8pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">4th</font></td><td style="width: 1%; font: 8pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">Quarter</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">Quarter</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">Quarter</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">Quarter</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">For the year ended September 26, 2012 (52 weeks) <font style="font-variant: normal; color: black">⁽¹⁾</font></font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">Total net revenues</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">166,390</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">223,684</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">175,773</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">174,360</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">Gross profit <font style="font-variant: normal; color: black">⁽²⁾ </font></font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">42,129</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">52,279</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">40,990</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">41,217</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">Costs and expenses<font style="font-variant: normal; color: black"> </font></font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">151,678</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">211,536</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">167,884</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">165,928</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">Earnings before income taxes </font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">14,753</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">7,667</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">4,986</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">3,792</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">Net earnings attributable to Biglari Holdings Inc.</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">8,795</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">4,528</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">4,853</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">3,417</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">Basic earnings per common share</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">6.60</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">3.39</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">3.64</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">2.56</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">Diluted earnings per common share</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">6.58</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">3.39</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">3.63</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">2.56</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">For the year ended September 28, 2011 (52 weeks) <font style="font-variant: normal; color: black">⁽¹⁾</font></font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Total net revenues</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">158,722</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">211,277</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">170,861</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">168,340</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Gross profit <font style="font-variant: normal; color: black">⁽²⁾ </font></font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">39,090</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">47,713</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">40,432</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">43,236</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Costs and expenses<font style="font-variant: normal; color: black"> </font></font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">145,690</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">199,225</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">157,692</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">154,098</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Earnings before income taxes</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">13,106</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">8,440</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">11,151</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">15,134</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Net earnings attributable to Biglari Holdings Inc.</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">9,463</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">5,645</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">8,676</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">10,781</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Basic earnings per common share</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">7.13</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">4.25</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">6.52</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">8.09</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Diluted earnings per common share</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">7.08</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">4.23</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">6.49</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">8.08</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"></font></p> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif">&#160;</p> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"></p> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"></p> <table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font: 8pt Times New Roman, Times, Serif"> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: top; width: 3%; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(1)</font></td> <td style="vertical-align: bottom; width: 97%; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Our fiscal year includes quarters consisting of 12, 16, 12 and 12 weeks, respectively.</font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(2)</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">We define Gross profit as Net sales less Cost of sales and Restaurant operating costs, which excludes Depreciation and amortization.</font></td></tr> </table> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">During fiscal year 2012, we had no new capital lease obligations or lease retirements, and had $589 of capital expenditures in Accounts payable at year-end. During fiscal year 2011, we had no new lease obligations or lease retirements, and had $741 of capital expenditures in Accounts payable at year-end. During fiscal year 2010, we had new leases of $248, lease retirements of $1,453 and $371 of capital expenditures in Accounts payable at year-end. Additionally, we issued $22,959 of Debentures in connection with our acquisition of Western. We paid $194 of that amount in cash in lieu of fractional Debentures.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> 589000 741000 371000 248000 1453000 42129000 39090000 52279000 47713000 40990000 40432000 41217000 43236000 553000 861000 58000 <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Description of Business</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Biglari Holdings Inc. (&#147;Biglari Holdings&#148; or the &#147;Company&#148;) is a diversified holding company engaged in a number of diverse business activities.&#160; The Company is led by Sardar Biglari, Chairman and Chief Executive Officer of Biglari Holdings and its major operating subsidiaries.&#160;The Company&#146;s long-term objective is to maximize per-share intrinsic value of the Company. Our strategy is to reinvest cash generated from our operating subsidiaries into any investments with the objective of achieving high risk-adjusted returns.&#160;&#160;All major operating, investment, and capital allocation decisions are made for the Company and its subsidiaries by Sardar Biglari, Chairman and Chief Executive Officer.&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Fiscal Year</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Our fiscal year ends on the last Wednesday in September. Fiscal years 2012, 2011, and 2010 each contain 52 weeks.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Principles of Consolidation</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">As of September 26, 2012, the consolidated financial statements include the accounts of (i) the Company, (ii) its wholly-owned subsidiaries Biglari Capital Corp. (&#147;Biglari Capital&#148;), Steak n Shake Operations, Inc. (&#147;Steak n Shake&#148;), and Western Sizzlin Corporation (&#147;Western&#148;), and (iii) investment related subsidiaries and limited partnerships (the &#147;consolidated affiliated partnerships&#148;). As a result of the Company&#146;s acquisitions of Western and Biglari Capital in 2010, the Company acquired financial interests in The Lion Fund, L.P. (the &#147;Lion Fund&#148;), Western Acquisitions, L.P., Mustang Capital Partners I, L.P. and Mustang Capital Partners II, L.P., investment limited partnerships (collectively referred to as consolidated affiliated partnerships), in which the Company has a substantive controlling interest. During the first quarter of fiscal year 2011, Mustang Capital Partners I, L.P. and Mustang Capital Partners II, L.P. were liquidated and the funds distributed to the partners. During the third quarter of fiscal year 2011, Western Mustang Holdings, L.L.C. sold its interests in Mustang Capital Management, L.L.C. and Mustang Capital Advisors, L.P. Refer to Note 5 for further information regarding the sale.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#9;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">We consolidate entities in which we have a wholly-owned or controlling interest in the general partner. The consolidated affiliated partnerships&#146; assets and liabilities are consolidated on the Consolidated Balance Sheet even though outside limited partners have majority ownership in all of the investment partnerships. The Company does not guarantee any of the liabilities of its subsidiaries that are serving as general partners to these consolidated affiliated partnerships. All intercompany accounts and transactions have been eliminated in consolidation.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">The financial information of Western and Biglari Capital has been reflected in the consolidated financial statements of the Company as of March 30, 2010 and April 30, 2010, their respective acquisition dates. Western&#146;s and Biglari Capital&#146;s September 30 year end for financial reporting purposes differs from the end of the Company&#146;s fiscal year, the last Wednesday in September. There were no significant transactions in the intervening period.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Reclassification</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Debt issuance costs recorded in 2011 have been reclassified and are now presented in cash flows from financing activities in the Statement of Cash Flows to conform to the current year presentation.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Cash and Cash Equivalents</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Cash equivalents primarily consist of U.S. Government securities and money market accounts, all of which have original maturities of three months or less. Cash equivalents are carried at fair value. Our policy is to reinvest cash equivalents to acquire businesses or to purchase securities. Cash held by the consolidated affiliated partnerships is included in Investments held by consolidated affiliated partnerships on our Consolidated Balance Sheet.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Investments</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Our investments consist of available-for-sale securities and are carried at fair value with net unrealized gains or losses reported as a component of Accumulated other comprehensive income in Shareholders&#146; equity. Realized gains and losses on disposals of investments are determined by specific identification of cost of investments sold and are included in Realized investment gains/losses, a component of Other income.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Investments Held by Consolidated Affiliated Partnerships</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">The consolidated affiliated partnerships are, for purposes of accounting principles generally accepted in the United States (&#147;GAAP&#148;), investment companies under the AICPA Audit and Accounting Guide Investment Companies. The Company has retained the specialized accounting for these entities, pursuant to Financial Accounting Standards Board (&#147;FASB&#148;) Accounting Standards Codification (&#147;ASC&#148;) Topic 946-810-45 (formerly EITF Issue No. 85-12, Retention of Specialized Accounting for Investments in Consolidation). As such, marketable equity securities held by the consolidated affiliated partnerships are recorded</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">at fair value with net unrealized and realized investment gains/losses included in Investment gains/losses of consolidated affiliated partnerships, a component of Net revenues on the Consolidated Statement of Earnings.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Concentration of Equity Price Risk</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Our investments are generally concentrated in common stocks. A significant decline in the general stock market or in the price of major investments may produce a large decrease in our Consolidated Shareholders&#146; Equity and under certain circumstances may require the recognition of losses in the Consolidated Statement of Earnings. Decreases in values of equity investments can have a material adverse effect on our Consolidated Shareholders&#146; Equity.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Receivables</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Our accounts receivable balance consists primarily of franchisee, tax, and other receivables. We carry our accounts receivable at cost less an allowance for doubtful accounts which is based on a history of past write-offs and collections and current credit conditions.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Inventories</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Inventories are valued at the lower of cost (first-in, first-out method) or market, and consist primarily of restaurant food items and supply inventory.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Assets Held for Sale</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Assets held for sale consists of property and equipment related to restaurants and land that is currently being marketed for disposal. Assets held for sale are reported at the lower of carrying value or estimated fair value less costs to sell. The Company expects to sell these properties within one year of their classification as assets held for sale. For any of these properties that are unsold within one year, the Company reclassifies as property and equipment.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Property and Equipment</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Property and equipment are stated at cost less accumulated depreciation and amortization. Depreciation and amortization are recognized on the straight-line method over the estimated useful lives of the assets (10 to 25 years for buildings and land improvements, and 3 to 10 years for equipment). Leasehold improvements are amortized on the straight-line method over the shorter of the estimated useful lives of the improvements or the term of the related leases. Interest costs associated with the construction of new restaurants are capitalized. Major improvements are also capitalized while repairs and maintenance are expensed as incurred. We review our long-lived assets whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. For purposes of this assessment, assets are evaluated at the lowest level for which there are identifiable cash flows. If the future undiscounted cash flows of an asset are less than the recorded value, an impairment is recorded for the difference between the carrying value and the estimated fair value of the asset. Refer to Note 3 for information regarding asset impairments.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;<br /></font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Goodwill and Intangible Assets</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Goodwill and indefinite life intangibles are not amortized, but are tested for potential impairment on an annual basis, or more often if events or circumstances change that could cause goodwill or indefinite life intangibles to become impaired. Other purchased intangible assets are amortized over their estimated useful lives, generally on a straight-line basis. We perform reviews for impairment of intangible assets whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. An impairment loss is recognized when estimated future cash flows expected to result from the use</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">of the asset and its eventual disposition are less than its carrying value. When an impairment is identified, we reduce the carrying</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">value of the asset to its estimated fair value. No impairments were recorded on goodwill or intangible assets during fiscal years 2012, 2011 or 2010. Refer to Note 9 for information regarding our goodwill and other intangible assets.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Capitalized Software</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Internal-use software is stated at cost less accumulated amortization and is amortized using the straight-line method over its estimated useful life ranging from three to seven years. Software assets are reviewed for impairment when events or circumstances indicate that the carrying value may not be recoverable over the remaining lives of the assets. During the software application development stage, capitalized costs include external consulting costs, cost of software licenses, and internal payroll and payroll-related costs for employees who are directly associated with a software project. Upgrades and enhancements are capitalized if they result in added functionality which enables the software to perform tasks it was previously incapable of performing. Software maintenance, training, data conversion, and business process reengineering costs are expensed in the period in which they are incurred. Capitalized software is included in the balance of Other assets in the Consolidated Balance Sheet.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Due to Broker</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">D<font style="color: black">ue to broker represents margin debit balances collateralized by certain of the Company&#146;s investments in securities. </font></font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Operating Leases</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">The Company leases certain property under operating leases. Many of these lease agreements contain rent holidays, rent escalation clauses and/or contingent rent provisions. Rent expense is recognized on a straight-line basis over the expected lease term, including cancelable option periods when failure to exercise such options would result in an economic penalty. In addition, the rent commencement date of the lease term is the earlier of the date when we become legally obligated for the rent payments or the date when we take access to the property or the grounds for build out.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Revenue Recognition</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Net Sales</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">We record revenue from restaurant sales at the time of sale, net of discounts. Revenue from the sale of gift cards is deferred at the time of sale and recognized upon redemption by the customer or at expiration of the gift cards. Sales revenues are presented net of sales taxes. Cost of sales primarily includes the cost of food and disposable paper and plastic goods used in preparing and selling our menu items and excludes depreciation and amortization, which is presented as a separate line item on the Consolidated Statement of Earnings.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Franchise Royalties and Fees</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Unit franchise fees and area development fees are recorded as revenue when the related restaurant begins operations. Royalty fees and administrative services fees are based on franchise sales and are recognized as revenue as earned.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Other Revenue</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Other revenue relates primarily to rental income.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Investment Gains/Losses from Consolidated Affiliated Partnerships</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Investment gains/losses from consolidated affiliated partnerships include realized and unrealized gains/losses on investments held by consolidated affiliated partnerships. Realized gains/losses from the disposal of investments held by consolidated affiliated partnerships are determined by specific identification of cost of investments sold.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif"><br /> <br /> </font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Insurance Reserves</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">We self-insure a significant portion of expected losses under our workers&#146; compensation, general liability, auto, directors&#146; and officers&#146; and medical liability insurance programs, and record a reserve for our estimated losses on all unresolved open claims and our estimated incurred but not reported claims at the anticipated cost to us. Insurance reserves are recorded in the balance of Accrued expenses in the Consolidated Balance Sheet.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Earnings Per Share</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Earnings per share of common stock is based on the weighted average number of shares outstanding during the year. For financial reporting purposes all common shares of the Company held by the consolidated affiliated partnerships are recorded in Treasury stock on the Consolidated Balance Sheet. For purposes of computing the weighted average common shares outstanding, the shares of treasury stock attributable to the unrelated limited partners of the consolidated affiliated partnerships &#151; based on their proportional ownership during the period &#151; are considered outstanding shares.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">The following table presents a reconciliation of basic and diluted weighted average common shares.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">2012</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2011</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2010</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Basic earnings per share:</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 46%; padding-bottom: 1pt; text-indent: -13.65pt; padding-left: 13.65pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Weighted average common shares</font></td><td style="width: 5%; font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="width: 11%; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,334,007</font></td><td style="width: 1%; padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="width: 5%; padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="width: 11%; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,329,745</font></td><td style="width: 1%; padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="width: 5%; padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="width: 11%; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,396,892</font></td><td style="width: 1%; padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: -13.65pt; padding-left: 13.65pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Diluted earnings per share:</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: -13.65pt; padding-left: 13.65pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Weighted average common shares</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,334,007</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">1,329,745</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">1,396,892</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-bottom: 1pt; text-indent: -13.65pt; padding-left: 13.65pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Dilutive effect of stock awards</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">3,261</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">6,948</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">8,483</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: -13.65pt; padding-left: 13.65pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Weighted average common and incremental shares</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,337,268</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">1,336,693</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">1,405,375</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-bottom: 1pt; text-indent: -13.65pt; padding-left: 13.65pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Number of share-based awards excluded from the calculation of earnings per share as the awards&#146; exercise prices were greater than the average market price of the Company&#146;s common stock</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">705</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">705</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">12,962</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Stock-Based Compensation</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">We account for all stock-based compensation, including grants of employee stock options, nonvested stock and shares issued under our employee stock purchase plan, using the fair value based method. Refer to Note 17 for additional information regarding our stock-based compensation.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">The Steak n Shake 401(k) Savings Plan</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">The Steak n Shake 401(k) Savings Plan (the &#147;401(k) Plan&#148;) is a defined contribution plan covering substantially all employees after they have attained age 21 and completed six months of service and allows employees to defer up to 20% of their salaries and allows for discretionary matching contributions. Discretionary matching contributions of $213, $271 and $253 were made in fiscal years 2012, 2011 and 2010, respectively. Discretionary contributions starting in 2010 were based on the profitability of the Company and are subject to quarterly revision.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Marketing Expense</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Advertising costs are charged to expense at the latter of the date the expenditure is incurred or the date the promotional item is first communicated.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;<br /></font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Non-Qualified Deferred Compensation Plan</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">We maintain The Steak n Shake Non-Qualified Savings Plan, a self-directed non-qualified deferred compensation plan (the &#147;Non-Qualified Plan&#148;) for executive employees. The Non-Qualified Plan allows highly compensated employees to defer amounts from their salaries for retirement savings and includes a discretionary employer match generally equal to the amount of the match the employee would have received as a participant in our 401(k) Plan. The Non-Qualified Plan is structured as a rabbi trust; therefore, assets in the Non-Qualified Plan are subject to creditor claims in the event of bankruptcy. We recognize investment assets in Other assets on the Consolidated Balance Sheet at current fair value. A liability of the same amount is recorded in Other long-term liabilities on the Consolidated Balance Sheet representing our obligation to distribute funds to participants. The investment assets are classified as trading, and accordingly, realized and unrealized gains and losses are recognized in income.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Use of Estimates</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Preparation of the consolidated financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from the estimates.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">New Accounting Standards</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">In October 2012, the FASB issued Accounting Standards Update (&#147;ASU&#148;) 2012-04, Technical Corrections and Improvements, which makes certain technical corrections (i.e., relatively minor corrections and clarifications) and &#147;conforming fair value amendments&#148; to the FASB Accounting Standards Codification (the &#147;Codification&#148;). The corrections and improvements include technical corrections based on feedback on the Codification and conforming amendments primarily related to fair value in areas outside of ASC 820. The amendments affect various Codification topics and apply to all reporting entities within the scope of those topics and become effective for the Company on December 20, 2012. We do not expect the adoption of ASU 2012-04 to have a material effect on our financial position or results of operations.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">In July 2012, the FASB issued ASU 2012&#8722;02, Intangibles&#151;Goodwill and Other (Topic 350): Testing Indefinite-Lived Intangible Assets for Impairment.&#160;&#160;The revised standard is intended to reduce the cost and complexity of testing indefinite-lived intangible assets other than goodwill for impairment. It allows companies to perform a &#147;qualitative&#148; assessment to determine whether further impairment testing of indefinite-lived intangible assets is necessary, similar in approach to the goodwill impairment test.&#160;&#160;The amendments are effective for annual and interim impairment tests performed for fiscal years beginning after September 15, 2012. Early adoption is permitted.&#160;&#160;We do not expect the provisions of ASU 2012-02 to have a material effect on our financial position or results of operations.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">In December 2011, the FASB issued ASU 2011&#8722;12, Comprehensive Income. The amendments in ASU 2011-12 supersede certain pending paragraphs in ASU 2011&#8722;05, Presentation of Comprehensive Income to effectively defer only those changes in ASU 2011&#8722;05 that relate to the presentation of reclassification adjustments out of accumulated other comprehensive income. The requirement to report comprehensive income either in a single continuous financial statement or in two separate but consecutive financial statements will become effective in the first quarter of fiscal 2013.&#160;&#160;The adoption of ASU 2011&#8722;12 will not impact the measurement of net earnings or other comprehensive income.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">In May 2011, the FASB issued ASU 2011&#8722;04, Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRSs (&#147;ASU 2011&#8722;04&#148;). ASU 2011&#8722;04 attempts to improve the comparability of fair value measurements disclosed in financial statements prepared in accordance with U.S. GAAP and IFRS. Amendments in ASU 2011&#8722; 04 clarify the intent of the application of existing fair value measurement and disclosure requirements, as well as change certain measurement requirements and disclosures. ASU 2011&#8722;04 was effective for the Company&#146;s first quarter of fiscal year 2012 and was applied on a prospective basis. The adoption of ASU 2011-04 did not have a material effect on the Company&#146;s consolidated financial statements.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;<br /></font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">In January 2010, the FASB issued ASU 2010&#8722;06, Improving Disclosures about Fair Value Measurements (&#147;ASU 2010&#8722;06&#148;). ASU 2010&#8722;06 amends ASC Topic 820, Fair Value Measurements and Disclosures (&#147;ASC Topic 820&#148;), and requires additional disclosure about significant transfers between levels 1, 2, and 3 of the fair value hierarchy as well as disclosure of changes in level 3 activity on a gross basis. In addition, the guidance clarifies existing requirements regarding the required level of disaggregation by class of assets and liabilities and also clarifies disclosures of inputs and valuation techniques. The guidance became effective beginning in the Company's second quarter of fiscal year 2010, except for the requirement to disclose level 3 activity on a gross basis, which became effective as of the beginning of the Company's fiscal year 2012. The adoption did not have a material impact on the Company's consolidated financial statements.</font></p> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Collectively, The Lion Fund L.P., Western Acquisitions, L.P., Mustang Capital Partners I, L.P. and Mustang Capital Partners II, L.P. are referred to as consolidated affiliated partnerships of the Company. Investments held directly by the consolidated affiliated partnerships usually consist of domestic equity securities. Certain of the consolidated affiliated partnerships hold the Company&#146;s common stock as investments. Within our consolidated financial statements, the Company classifies this common stock as Treasury stock despite the shares being legally outstanding. Certain of the consolidated affiliated partnerships held the Company&#146;s Debentures as investments. These Debentures were redeemed by the Company on March 30, 2011. Refer to Note 15 for further information. As of September 26, 2012 and September 28, 2011, the consolidated affiliated partnerships held 205,743 shares of the Company&#146;s common stock ($69,221 at cost). &#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Consolidated net earnings of the Company include the realized and unrealized appreciation and depreciation of the investments held by consolidated affiliated partnerships, other than realized and unrealized appreciation and depreciation of investments the consolidated affiliated partnerships hold in the Company&#146;s equity securities which has been eliminated in consolidation.&#160;</font></p> <p style="font: 8pt/11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Throughout fiscal year 2010, Biglari Holdings invested a total of $35,697 in the Lion Fund, both in the form of the acquisition of the general partner and as a direct limited partner investment.&#160;The fair value of these investments in the Lion Fund totaled $48,306 at September 26, 2012 and $38,455 at September 28, 2011. No amounts were invested in 2012 or 2011. These investments in the Lion Fund do not appear explicitly in the Company&#146;s Consolidated Balance Sheet because of the requirement to consolidate fully the Lion Fund (inclusive of third party interests) in the Company&#146;s financial statements.&#160;Further, the Lion Fund&#146;s portfolio holds significant interests in Biglari Holdings&#146; common stock, which as described above is classified on the Company&#146;s Consolidated Balance Sheet as a reduction to Shareholders&#146; equity. Biglari Holdings&#146; pro-rata ownership of its common stock through the Lion Fund was 98,430 and 99,792 shares of stock (with a fair value of $35,933 and $29,577) based on Biglari Holdings&#146; ownership interest in the Lion Fund on September 26, 2012 and September 28, 2011, respectively.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">During the first quarter of fiscal year 2011, Mustang Capital Partners I, L.P. and Mustang Capital Partners II, L.P. were liquidated and the funds distributed to the partners. During the third quarter of fiscal year 2011, Western Mustang Holdings, L.L.C. sold its interests in Mustang Capital Management, L.L.C. and Mustang Capital Advisors, L.P. As a result of the sale, we recorded a gain of $1,559, of which $1,259 was non-cash in Other operating income in the Consolidated Statement of Earnings.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif"><br /> <br /></font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">As a result of the sale, the Company will not have involvement in the operations of Mustang Capital Management, L.L.C. and Mustang Capital Advisors, L.P. Although these entities meet the definition of &#147;discontinued operations,&#148; as defined in FASB ASC paragraph 205-20-45-1, Reporting Discontinued Operations (&#147;ASC paragraph 205-20-45-1&#148;), we have not separated the results of operations because the amounts are immaterial to our consolidated financial results. Net earnings after tax related to the entities was approximately $2,606 and $621 for the years ended September 28, 2011 and September 29, 2010, respectively, including $1,246 and $192, respectively, that is attributable to noncontrolling interests. The after-tax income for the year ended September 28, 2011 includes the aforementioned gain on sale of $1,559.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">The following table summarizes the cost and fair value of the investments held by the consolidated affiliated partnerships, other than holdings of the Company&#146;s equity securities:</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2012</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2011</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Equity securities:</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 56%; text-indent: 7.9pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Cost</font></td><td style="width: 8%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="width: 12%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">10,288</font></td><td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="width: 8%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="width: 12%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">19,122</font></td><td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 7.9pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Fair value</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">13,151</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">18,783</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Investments held by consolidated affiliated partnerships on the Consolidated Balance Sheet include $12,115 and $0 of cash that is only available for use by the consolidated affiliated partnerships at September 26, 2012 and September 28, 2011, respectively.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Realized investment gains/losses arise when investments are sold (as determined on a specific identification basis). The gross unrealized gains/losses and net realized gains/losses from investments held by consolidated affiliated partnerships, other than holdings of the Company&#146;s debt and equity securities, for the fiscal years ended September 26, 2012, September 28, 2011 and September 29, 2010 were as follows:</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">2012</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2011</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2010</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 46%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Gross unrealized gains</font></td><td style="width: 5%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="width: 11%; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">3,047</font></td><td style="width: 1%; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="width: 5%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="width: 11%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">1,317</font></td><td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="width: 5%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="width: 11%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">1,499</font></td><td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Gross unrealized losses</font></td><td style="color: black; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="color: black; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="color: black; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#151;&#160;&#160;</font></td><td style="color: black; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(1,547</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(493</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Net realized gains/losses from sale</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">2,895</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">3,365</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">831</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">The limited partners of each of the investment funds have the ability to redeem their capital upon certain occurrences; therefore, the ownership of the investment funds held by the limited partners is presented as Redeemable noncontrolling interests of consolidated affiliated partnerships and measured at the greater of carrying value or fair value on the accompanying Consolidated Balance Sheet. The maximum redemption amount of the redeemable noncontrolling interests as of September 26, 2012 and September 28, 2011 was $52,088 and $45,252, respectively.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">The following is a reconciliation of the redeemable noncontrolling interests in the consolidated affiliated partnerships.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">2012</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2011</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2010</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 46%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Carrying value at beginning of year</font></td><td style="width: 5%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="width: 11%; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">45,252</font></td><td style="width: 1%; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="width: 5%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="width: 11%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">62,245</font></td><td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="width: 5%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="width: 11%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">60,075</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Contributions from noncontrolling interests</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,545</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">1,780</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">1,878</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Distributions to noncontrolling interests</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(254</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(17,499</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(1,025</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Incentive fee</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(36</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(2,510</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#151;&#160;&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Income allocation</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">3,188</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">1,909</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">1,317</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Adjustment to redeemable noncontrolling interest to reflect maximum redemption value</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">2,393</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(673</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#151;&#160;&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-bottom: 2.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Carrying value at end of year</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">52,088</font></td><td style="padding-bottom: 2.5pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 2.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">45,252</font></td><td style="padding-bottom: 2.5pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="color: black; padding-bottom: 2.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; color: black; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; color: black; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">62,245</font></td></tr> </table> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif"><br /></font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">The Company, through its ownership of Biglari Capital and Western Investments Inc., is entitled to an incentive fee to the extent investment performance of the consolidated affiliated partnerships exceeds specified hurdle rates. Any such fee is included in net earnings attributable to the Company in the period the fee is earned.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Biglari Capital, the general partner of the Lion Fund, earned a $36 incentive reallocation fee at December 31, 2011. At December 31, 2010, Biglari Capital earned a $5,199 incentive reallocation fee; however, $2,689 is eliminated, for that amount represents the Company&#146;s fee as a limited partner, which is uncharged because the Company owns the general partner. The remaining $2,510 is an incentive fee that is charged and reallocated from outside limited partners of the Lion Fund. The incentive fee is assessed only once a year, on December 31, and no predictability of such earnings exists because the Lion Fund&#146;s annual performance is unpredictable.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Net earnings attributable to the Company only includes the Company&#146;s share of earnings and losses related to our investments in the consolidated affiliated partnerships; all other earnings or losses from the consolidated affiliated partnerships are allocated to the redeemable noncontrolling interests.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">During the first quarter of fiscal year 2011, Mustang Capital Partners I, L.P. and Mustang Capital Partners II, L.P. were liquidated, and their funds were distributed to the partners. The distribution of $15,660, including $1,421 of noncash distributions, is noted in the Distributions to noncontrolling interests line in the above reconciliation.</font></p> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"></p> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">We lease certain physical facilities under non-cancelable lease agreements. These leases require the payment of real estate taxes, insurance and maintenance costs. Certain leased facilities, which are no longer operated but are subleased to third parties or franchisees, are classified below as non-operating properties. Minimum future rental payments for non-operating properties have not been reduced by minimum sublease rentals of $4,646 related to operating leases receivable under non-cancelable subleases. The property and equipment cost related to finance obligations and capital leases as of September 26, 2012 is as follows: $72,828 buildings, $61,663 land, $29,506 land and leasehold improvements, $566 equipment and $61,682 accumulated depreciation.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">&#160;<br /></font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">On September 26, 2012, obligations under non-cancelable finance obligations, capital leases, and operating leases (excluding real estate taxes, insurance and maintenance costs) require the following minimum future rental payments:</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="5" style="vertical-align: bottom; border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">Operating Leases</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt/115% Times New Roman, Times, Serif; text-align: left; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt/115% Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="font: 8pt/115% Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt/115% Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt/115% Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt/115% Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt/115% Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="font: 8pt/115% Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt/115% Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="5" style="font: 8pt/115% Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; padding-left: 4.5pt; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">Year</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: bottom; border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">Finance Obligations</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">Capital Leases</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: bottom; border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">Total</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: bottom; border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">Operating Property</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: bottom; border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">Non-Operating<br /> Property</font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; width: 57%; padding-left: 4.3pt; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">2013</font></td> <td style="vertical-align: bottom; width: 1%; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; width: 1%; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$</font></td> <td style="vertical-align: bottom; width: 6%; border-top: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; padding-right: 1.35pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">15,173</font></td> <td style="vertical-align: bottom; width: 1%; font: 8pt/115% Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; width: 1%; border-top: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; width: 6%; border-top: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">106</font></td> <td style="vertical-align: bottom; width: 1%; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; width: 1%; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; width: 6%; border-top: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">15,279</font></td> <td style="text-align: right; width: 1%; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; width: 1%; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; width: 6%; border-top: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">13,703</font></td> <td style="vertical-align: bottom; width: 1%; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; width: 1%; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; width: 9%; border-top: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; text-align: right">4<font style="font: 8pt Times New Roman, Times, Serif">12</font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-left: 4.3pt; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">2014</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; padding-right: 1.35pt; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">14,562</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">17</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">14,579</font></td> <td style="text-align: right; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">12,832</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">368</font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-left: 4.3pt; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">2015</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; padding-right: 1.35pt; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">13,686</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">17</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">13,703</font></td> <td style="text-align: right; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">11,905</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">318</font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-left: 4.3pt; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">2016</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; padding-right: 1.35pt; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">12,144</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">17</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">12,161</font></td> <td style="text-align: right; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">10,651</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">321</font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-left: 4.3pt; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">2017</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; padding-right: 1.35pt; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">9,080</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">17</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">9,097</font></td> <td style="text-align: right; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">9,398</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">328</font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-left: 4.3pt; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">After 2017</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom; padding-right: 1.35pt; text-align: right">&#160;</td> <td style="border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom; padding-right: 1.35pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">14,971</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">15</font></td> <td style="vertical-align: bottom; border-bottom: white 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">14,986</font></td> <td style="text-align: right; border-bottom: white 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">57,660</font></td> <td style="vertical-align: bottom; border-bottom: white 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">2,808</font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-left: 4.3pt; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">Total minimum future rental payments</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom; padding-right: 1.35pt; text-align: right">&#160;</td> <td style="font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom; padding-right: 1.35pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">79,616</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">189</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">79,805</font></td> <td style="text-align: right; border-bottom: white 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: windowtext 2.25pt double; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom; text-align: right">$<font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: windowtext 2.25pt double; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;116,149</font></td> <td style="vertical-align: bottom; border-bottom: white 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"></td> <td style="border-bottom: windowtext 2.25pt double; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: windowtext 2.25pt double; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">4,555</font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-left: 4.3pt; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">Less amount representing interest</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom; padding-right: 1.35pt; text-align: right">&#160;</td> <td style="border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom; padding-right: 1.35pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">44,677</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">26</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">44,703</font></td> <td style="text-align: right; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom; text-align: right">&#160;</td> <td style="font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom; text-align: right">&#160;</td> <td style="font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-left: 4.3pt; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">Total principal obligations under leases</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom; padding-right: 1.35pt; text-align: right">&#160;</td> <td style="font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom; padding-right: 1.35pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">34,939</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom; text-align: right">&#160;</td> <td style="font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">163</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom; text-align: right">&#160;</td> <td style="font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">35,102</font></td> <td style="text-align: right; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-left: 4.3pt; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">Less current portion</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom; padding-right: 1.35pt; text-align: right">&#160;</td> <td style="border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom; padding-right: 1.35pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">5,619</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom; text-align: right">&#160;</td> <td style="border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">94</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom; text-align: right">&#160;</td> <td style="border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">5,713</font></td> <td style="text-align: right; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-left: 4.3pt; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">Non-current principal obligations under leases</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom; padding-right: 1.35pt; text-align: right">&#160;</td> <td style="font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom; padding-right: 1.35pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">29,320</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom; text-align: right">&#160;</td> <td style="font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">69</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom; text-align: right">&#160;</td> <td style="font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">29,389</font></td> <td style="text-align: right; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-left: 4.3pt; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">Residual value at end of lease term</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom; padding-right: 1.35pt; text-align: right">&#160;</td> <td style="border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom; padding-right: 1.35pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">80,938</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom; text-align: right">&#160;</td> <td style="border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">26</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom; text-align: right">&#160;</td> <td style="border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">80,964</font></td> <td style="text-align: right; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-left: 4.3pt; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">Obligations under leases</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: windowtext 2.25pt double; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom; padding-right: 1.35pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">$ </font></td> <td style="border-bottom: windowtext 2.25pt double; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom; padding-right: 1.35pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">110,258</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: windowtext 2.25pt double; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">$ </font></td> <td style="border-bottom: windowtext 2.25pt double; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">95</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: windowtext 2.25pt double; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: windowtext 2.25pt double; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">110,353</font></td> <td style="text-align: right; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Contingent rent totaling $1,173 in fiscal year 2012, $967 in fiscal year 2011, and $749 in fiscal year 2010 is recorded in Rent expense in the accompanying Consolidated Statement of Earnings.&#160;</font></p> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="5" style="vertical-align: bottom; border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">Operating Leases</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="5" style="font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; padding-left: 4.5pt"><font style="font: 8pt Times New Roman, Times, Serif">Year</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: bottom; border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">Finance Obligations</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">Capital Leases</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: bottom; border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">Total</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: bottom; border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">Operating Property</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: bottom; border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">Non-Operating<br /> Property</font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; padding-left: 4.3pt; width: 57%"><font style="font: 8pt Times New Roman, Times, Serif">2013</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif; text-align: center; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$</font></td> <td style="vertical-align: bottom; border-top: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; padding-right: 1.35pt; text-align: right; width: 6%"><font style="font: 8pt Times New Roman, Times, Serif">15,173</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif; text-align: center; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-top: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; border-top: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; text-align: right; width: 6%"><font style="font: 8pt Times New Roman, Times, Serif">106</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif; text-align: center; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; border-top: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; text-align: right; width: 6%"><font style="font: 8pt Times New Roman, Times, Serif">15,279</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; border-top: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; text-align: right; width: 6%"><font style="font: 8pt Times New Roman, Times, Serif">13,703</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif; text-align: center; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$</font></td> <td style="vertical-align: bottom; border-top: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; text-align: right; width: 9%"><font style="font: 8pt Times New Roman, Times, Serif">412</font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: bottom; padding-left: 4.3pt; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2014</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; padding-right: 1.35pt; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">14,562</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">17</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">14,579</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">12,832</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">368</font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: bottom; padding-left: 4.3pt; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2015</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; padding-right: 1.35pt; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">13,686</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">17</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">13,703</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">11,905</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">318</font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: bottom; padding-left: 4.3pt; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2016</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; padding-right: 1.35pt; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">12,144</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">17</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">12,161</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">10,651</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">321</font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: bottom; padding-left: 4.3pt; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2017</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; padding-right: 1.35pt; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">9,080</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">17</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">9,097</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">9,398</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">328</font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: bottom; padding-left: 4.3pt; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">After 2017</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: bottom; border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; padding-right: 1.35pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">14,971</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">15</font></td> <td style="vertical-align: top; border-bottom: white 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: top; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: top; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">14,986</font></td> <td style="vertical-align: top; border-bottom: white 1pt solid; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: top; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: top; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">57,660</font></td> <td style="vertical-align: top; border-bottom: white 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: top; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: top; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">2,808</font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: bottom; padding-left: 4.3pt; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Total minimum future rental payments</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: bottom; padding-right: 1.35pt; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">79,616</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">189</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">79,805</font></td> <td style="vertical-align: top; border-bottom: white 1pt solid; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: windowtext 2.25pt double; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom; text-align: right">$<font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: windowtext 2.25pt double; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: top; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;116,149</font></td> <td style="vertical-align: top; border-bottom: white 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: windowtext 2.25pt double; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: top; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></td> <td style="border-bottom: windowtext 2.25pt double; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: top; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">4,555</font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: bottom; padding-left: 4.3pt; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Less amount representing interest</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: bottom; border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; padding-right: 1.35pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">44,677</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">26</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: top; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; vertical-align: top; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">44,703</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: bottom; padding-left: 4.3pt; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Total principal obligations under leases</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: bottom; padding-right: 1.35pt; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">34,939</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">163</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">35,102</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: bottom; padding-left: 4.3pt; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Less current portion</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: bottom; border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; padding-right: 1.35pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">5,619</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: bottom; border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">94</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: top; border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">5,713</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: bottom; padding-left: 4.3pt; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Non-current principal obligations under leases</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: bottom; padding-right: 1.35pt; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">29,320</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">69</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">29,389</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: bottom; padding-left: 4.3pt; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Residual value at end of lease term</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: bottom; border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; padding-right: 1.35pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">80,938</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: bottom; border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">26</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: top; border-bottom: windowtext 1pt solid; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">80,964</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: bottom; padding-left: 4.3pt; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Obligations under leases</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: bottom; border-bottom: windowtext 2.25pt double; font: 8pt/115% Times New Roman, Times, Serif; padding-right: 1.35pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">$&#160;110,258</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: bottom; border-bottom: windowtext 2.25pt double; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">$&#160;&#160;&#160;&#160; 95</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: top; border-bottom: windowtext 2.25pt double; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">$110,353</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: top; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> 3047000 1317000 1499000 0 -1547000 -493000 769000 4646000 0 657000 768000 15173000 14562000 13686000 12144000 9080000 14971000 79616000 34939000 44677000 5619000 29320000 80938000 110258000 15279000 14579000 13703000 12161000 9097000 14986000 79805000 44703000 35102000 5713000 29389000 80964000 110353000 95000 7000000 5572000 105197000 80879000 11162000 1902000 0 7051000 7001000 4133000 6624000 5886000 0 6150000 2357000 6870000 2798000 3237000 348997000 240584000 356638000 371736000 6248000 6950000 9109000 7278000 25266000 18783000 33210000 29236000 0 7272000 53866000 46948000 0 15000000 25873000 0 19367000 0 12138000 11141000 37035000 8953000 124294000 114869000 462000 0 8675000 6664000 110353000 116066000 120250000 101417000 9002000 8914000 756000 756000 143035000 144569000 251983000 230390000 43897000 -5468000 90546000 90569000 744000 559000 0.50 0.50 2500000 2500000 1511174 1511174 1227928 1227276 283246 283898 205743 205743 721754000 694378000 663524000 9631000 8600000 5909000 2520000 2425000 2213000 28306000 33594000 28069000 733905000 705403000 671646000 0 224000 233000 5942000 3135000 1837000 360000 438000 65000 3412000 329000 67000 6302000 3797000 2135000 207234000 192645000 179633000 337905000 331262000 321937000 64286000 48404000 41553000 18374000 4768000 2068000 42531000 38476000 34835000 17638000 16891000 16627000 430000 89000 0 901000 1032000 353000 -611000 -702000 -126000 934000 1157000 558000 4000000 742000 383000 10073000 10565000 11125000 8155000 2811000 1859000 14000 1589000 1635000 4200000 7360000 3802000 4152000 7360000 3802000 0 610000 222000 0 610000 222000 -11983000 -4664000 -8577000 6453000 13867000 12019000 24745000 33964000 29421000 21593000 34565000 28094000 21593000 34565000 28094000 0 0 10000 3188000 1909000 1317000 -36000 -2510000 3152000 -601000 1317000 1334007 1329745 1396892 1337268 1336693 1405375 -2727000 -2186000 207000 888000 950000 1735000 0 1559000 0 3659000 -2066000 -3951000 -1019000 -2972000 123000 10491000 12918000 8834000 7346000 239000 2487000 14477000 53727000 24771000 26052000 52271000 25117000 -2895000 -3365000 -831000 3047000 -230000 1006000 12115000 -7870000 -371000 0 222000 0 49966000 74751000 68618000 -10572000 149885000 60313000 2379000 2007000 1885000 0 0 457000 0 196000 0 108825000 171893000 73228000 101004000 171893000 73228000 38108000 90058000 47112000 49536000 90058000 47112000 -7272000 3147000 3903000 -7051000 3148000 3903000 0 0 2903000 -87885000 -89503000 -31424000 -51904000 -76737000 -61546000 0 194045000 500000 15000000 197045000 1000000 130000000 111959000 110170000 17333000 80000 0 22765000 0 5272000 7469000 4570000 29000 29000 345000 29000 29000 345000 382000 3000 0 382000 3000 0 0 0 711000 0 0 711000 8000 541000 257000 8000 541000 257000 0 0 221000 1545000 1780000 1878000 254000 16078000 1150000 -709000 66176000 -41026000 403000 -23274000 -623000 -38628000 51424000 -3832000 -62073000 49874000 -1856000 0 -28094000 -26679000 28306000 5500000 1390000 28306000 5500000 1390000 4152000 7970000 4024000 4111000 -971000 -363000 0 128749000 34489000 3483000 198000 -657000 -7239000 -2611000 32637000 0 0 4107000 <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Note 1. Basis of Presentation</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Biglari Holdings Inc.&#146;s (the &#147;Company&#148;) condensed financial information has been derived from the consolidated financial statements and should be read in conjunction with the consolidated financial statements included in this Annual Report on Form 10-K.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">For the purpose of presenting the Company&#146;s Condensed Balance Sheet, the Company has treated shares of Biglari Holdings common stock held by certain consolidated affiliated partnerships as treasury stock of the Company and included as a component of Shareholders&#146; equity. The inclusion of the 205,743 shares of treasury stock has decreased the Company&#146;s Shareholders&#146; equity and Investment in subsidiaries by $69,221.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Note 2. Subsidiary Transactions</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Dividends</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">No cash dividends were received during fiscal year 2012. During fiscal year 2011, the Company received cash dividends from subsidiaries of $156,843, which included distributions of current year earnings of $28,094 and historical earnings of $128,749. The Company received cash dividends from subsidiaries of $61,168 in fiscal year 2010, which included distributions of current year earnings of $26,679 and historical earnings of $34,489.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Our wholly-owned subsidiary has a credit facility that imposes restrictions on its ability to transfer funds to the Company through intercompany loans, distributions, or dividends.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Investment in Subsidiaries</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">The Company&#146;s investment in subsidiaries is stated at cost plus equity in undistributed earnings of subsidiaries adjusted for the cost basis of shares of Biglari Holdings common stock held by certain consolidated affiliated partnerships.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">On April 30, 2010, the Company acquired Biglari Capital pursuant to a Stock Purchase Agreement between the Company and Sardar Biglari, Chairman and Chief Executive Officer, who was the sole shareholder of Biglari Capital. The cash paid in connection with this acquisition totaled $4,107.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">On March 30, 2010, the Company, through its wholly-owned subsidiary, Merger Sub, acquired 100% of the outstanding equity interests of Western. Sardar Biglari, Chairman and Chief Executive Officer, was also Chairman and Chief Executive Officer of Western at the time of the acquisition. Additionally, at the time of the merger, Mr. Biglari owned shares of Western&#146;s common stock through his ownership interest in the Lion Fund.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Note 3. Investments</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Investments consisted of the following:</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">2012</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="5" style="text-align: center; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2011</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 56%; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Cost</font></td><td style="width: 8%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="width: 12%; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">180,240</font></td><td style="width: 1%; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="width: 8%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="width: 12%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">122,762</font></td><td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Gross unrealized gains</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">68,715</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">1,950</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> </tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Gross unrealized losses</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(461</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(10,536</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="padding-bottom: 2.5pt; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Fair value</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">248,494</font></td><td style="padding-bottom: 2.5pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 2.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">114,176</font></td><td style="padding-bottom: 2.5pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">On September 26, 2012, most of our investments were concentrated in the common stock of one investee, Cracker Barrel Old Country Store, Inc. As of September 26, 2012, unrealized losses on available for sale equity securities in a continuous unrealized loss position for more than twelve consecutive months were $461. We considered several factors in determining other-than-temporary impairment losses including the current and long-term business prospects of the issuer, the length of time and relative magnitude of the price decline and our ability and intent to hold the investment until the price recovers</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Investment gains/losses are recognized when investments are sold (as determined on a specific identification basis) or as otherwise required by GAAP. The timing of realized gains and losses from sales can have a material effect on periodic earnings. However, such realized gains or losses usually have little, if any, impact on total Shareholders&#146; equity because the investments are carried at fair value with any unrealized gains/losses included as a component of Shareholders&#146; equity.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Realized investment gains/losses for the years ended September 26, 2012, September 28, 2011, and September 29, 2010 were as follows:</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">2012</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2011</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2010</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 46%; text-align: left; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Gross realized gains on sales</font></td><td style="width: 5%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="width: 11%; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">4,536</font></td><td style="width: 1%; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="width: 5%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="width: 11%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">7,775</font></td><td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="width: 5%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="width: 11%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">3,810</font></td><td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Gross realized losses on sales</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(384</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(415</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(8</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> </table> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">From time to time, the Company enters into certain derivative transactions as part of its investment strategy. In accordance with ASC 815, Accounting for Derivative Instruments and Hedging Activities, these derivatives are marked to market for each reporting period and this fair value adjustment is recorded as a gain or loss in the Condensed Statement of Earnings. We believe that realized investment gains/losses are often meaningless in terms of understanding reported results. Short-term investment gains/losses have caused and may continue to cause significant volatility in our results.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 27pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">The Company has entered into short sales on certain equity securities, that is, a transaction in which the Company sells securities it does not own. The Company&#146;s use of short sales involves the risk that the price of the security in the open market may be higher when it is purchased in order to close out the Company&#146;s short position, resulting in a loss to the Company. Such a loss is theoretically limitless because there are no restrictions on the potential increase in the price of a security, or any guarantee as to the price at which the Company would be able to purchase the security in the open market.&#160;Securities sold in short sale transactions and the interest and dividends payable on such securities, if any, are reflected as a liability in Accrued expenses in the Condensed Balance Sheet.&#160;As of September 26, 2012 and September 28, 2011 we had no outstanding short sales.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">For the year ended September 28, 2011, the Company recorded investment gains of $610 related to the change in fair value of derivatives and securities sold short. For the year ended September 29, 2010, the Company recorded investment gains from marking derivatives to market of $222.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Note 4. Debt</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">In connection with the acquisition of Western, the Company issued 14% redeemable subordinated debentures due 2015 (the &#147;Debentures&#148;) in the aggregate principal amount of $22,959, with cash of $194 paid in lieu of fractional Debenture interests. On March 30, 2011, the Company redeemed all of its outstanding Debentures. The Debentures were redeemed for cash at an aggregate redemption price of approximately $23,420, representing 100% of the principal amount outstanding, plus accrued and unpaid interest up to, but not including, March 30, 2011. Included in the Debentures aggregate redemption price of $23,420 was approximately $7,804 of principal and interest paid to the Lion Fund.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Note 5. Income Taxes</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Federal income taxes are paid based on the consolidated results of Biglari Holdings.</font></p> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"></p> -38411000 -38411000 1433671 490567737 -1955000 0 0 -3570000 0 0 <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td>&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="text-align: right; border-bottom: Black 1pt solid">Purchase Allocation</td></tr> <tr style="vertical-align: bottom"> <td style="width: 70%">Investments</td><td style="width: 10%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">10,926</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-bottom: 1pt">Company debentures</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">7,540</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left">&#160;&#160;Total assets acquired</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">18,466</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td>&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left">Current liabilities</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">66</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left">Redeemable noncontrolling interests of consolidated affiliated partnerships</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">44,193</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-bottom: 1pt">Treasury stock</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(29,900</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-bottom: 1pt">&#160;&#160;Total liabilities assumed and treasury stock acquired</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">14,359</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-bottom: 2.5pt">Net assets acquired</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">4,107</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> </table> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"></p> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td>&#160;</td><td>&#160;</td> <td colspan="3" style="text-align: center">Amounts at</td></tr> <tr style="vertical-align: bottom"> <td>&#160;</td><td>&#160;</td> <td colspan="3" style="text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">September 28<font style="color: black">, </font></font></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid">2011</td></tr> <tr style="vertical-align: bottom"> <td style="width: 70%; text-align: left">Current assets</td><td style="width: 10%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">3,310</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left">Property and equipment, net</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">4,874</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left">Investments, including marketable securities held by consolidated affiliated partnerships</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">13,037</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td>Goodwill</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">13,026</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left">Intangible assets</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">6,880</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-bottom: 1pt">Other assets</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">663</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-bottom: 1pt">&#160;&#160;&#160;Total assets acquired</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">41,790</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td>&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left">Current liabilities</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1,966</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td>Debt</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">2,595</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left">Other long-term liabilities</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">2,634</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left">Redeemable noncontrolling interests of consolidated affiliated partnerships</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">15,882</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-bottom: 1pt">Treasury stock</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(4,246</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-bottom: 1pt">&#160;&#160;&#160;Total liabilities assumed and treasury stock acquired</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">18,831</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-bottom: 2.5pt">Net assets acquired</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">22,959</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> </table> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"></p> 10926000 13037000 7540000 18466000 41790000 66000 1966000 44193000 15882000 -29900000 -4246000 14359000 18831000 4107000 22959000 3310000 4874000 27529000 27529000 28759000 13026000 6880000 663000 2634000 2595000 20.25 20.13 <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Other assets primarily include capitalized software, non-qualified plan investments, the non-current portion of capitalized loan acquisition costs, and restricted cash of $3,600 related to workers&#146; compensation claims.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">We are involved in various legal proceedings and have certain unresolved claims pending. We believe, based on examination of these matters and experiences to date, that the ultimate liability, if any, in excess of amounts already provided in our consolidated financial statements is not likely to have a material effect on our results of operations, financial position or cash flows.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Fiscal Year</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Our fiscal year ends on the last Wednesday in September. Fiscal years 2012, 2011, and 2010 each contain 52 weeks.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Principles of Consolidation</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">As of September 26, 2012, the consolidated financial statements include the accounts of (i) the Company, (ii) its wholly-owned subsidiaries Biglari Capital Corp. (&#147;Biglari Capital&#148;), Steak n Shake Operations, Inc. (&#147;Steak n Shake&#148;), and Western Sizzlin Corporation (&#147;Western&#148;), and (iii) investment related subsidiaries and limited partnerships (the &#147;consolidated affiliated partnerships&#148;). As a result of the Company&#146;s acquisitions of Western and Biglari Capital in 2010, the Company acquired financial interests in The Lion Fund, L.P. (the &#147;Lion Fund&#148;), Western Acquisitions, L.P., Mustang Capital Partners I, L.P. and Mustang Capital Partners II, L.P., investment limited partnerships (collectively referred to as consolidated affiliated partnerships), in which the Company has a substantive controlling interest. During the first quarter of fiscal year 2011, Mustang Capital Partners I, L.P. and Mustang Capital Partners II, L.P. were liquidated and the funds distributed to the partners. During the third quarter of fiscal year 2011, Western Mustang Holdings, L.L.C. sold its interests in Mustang Capital Management, L.L.C. and Mustang Capital Advisors, L.P. Refer to Note 5 for further information regarding the sale.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#9;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">We consolidate entities in which we have a wholly-owned or controlling interest in the general partner. The consolidated affiliated partnerships&#146; assets and liabilities are consolidated on the Consolidated Balance Sheet even though outside limited partners have majority ownership in all of the investment partnerships. The Company does not guarantee any of the liabilities of its subsidiaries that are serving as general partners to these consolidated affiliated partnerships. All intercompany accounts and transactions have been eliminated in consolidation.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">The financial information of Western and Biglari Capital has been reflected in the consolidated financial statements of the Company as of March 30, 2010 and April 30, 2010, their respective acquisition dates. Western&#146;s and Biglari Capital&#146;s September 30 year end for financial reporting purposes differs from the end of the Company&#146;s fiscal year, the last Wednesday in September. There were no significant transactions in the intervening period.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Cash and Cash Equivalents</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Cash equivalents primarily consist of U.S. Government securities and money market accounts, all of which have original maturities of three months or less. Cash equivalents are carried at fair value. Our policy is to reinvest cash equivalents to acquire businesses or to purchase securities. Cash held by the consolidated affiliated partnerships is included in Investments held by consolidated affiliated partnerships on our Consolidated Balance Sheet.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Investments</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Our investments consist of available-for-sale securities and are carried at fair value with net unrealized gains or losses reported as a component of Accumulated other comprehensive income in Shareholders&#146; equity. Realized gains and losses on disposals of investments are determined by specific identification of cost of investments sold and are included in Realized investment gains/losses, a component of Other income.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Investments Held by Consolidated Affiliated Partnerships</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">The consolidated affiliated partnerships are, for purposes of accounting principles generally accepted in the United States (&#147;GAAP&#148;), investment companies under the AICPA Audit and Accounting Guide Investment Companies. The Company has retained the specialized accounting for these entities, pursuant to Financial Accounting Standards Board (&#147;FASB&#148;) Accounting Standards Codification (&#147;ASC&#148;) Topic 946-810-45 (formerly EITF Issue No. 85-12, Retention of Specialized Accounting for Investments in Consolidation). As such, marketable equity securities held by the consolidated affiliated partnerships are recorded at fair value with net unrealized and realized investment gains/losses included in Investment gains/losses of consolidated affiliated partnerships, a component of Net revenues on the Consolidated Statement of Earnings.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Concentration of Equity Price Risk</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Our investments are generally concentrated in common stocks. A significant decline in the general stock market or in the price of major investments may produce a large decrease in our Consolidated Shareholders&#146; Equity and under certain circumstances may require the recognition of losses in the Consolidated Statement of Earnings. Decreases in values of equity investments can have a material adverse effect on our Consolidated Shareholders&#146; Equity.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Receivables</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Our accounts receivable balance consists primarily of franchisee, tax, and other receivables. We carry our accounts receivable at cost less an allowance for doubtful accounts which is based on a history of past write-offs and collections and current credit conditions.</font> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Inventories</font></p> <p style="margin: 0; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Inventories are valued at the lower of cost (first-in, first-out method) or market, and consist primarily of restaurant food items and supply inventory.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Assets Held for Sale</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Assets held for sale consists of property and equipment related to restaurants and land that is currently being marketed for disposal. Assets held for sale are reported at the lower of carrying value or estimated fair value less costs to sell. The Company expects to sell these properties within one year of their classification as assets held for sale. For any of these properties that are unsold within one year, the Company reclassifies them as property and equipment.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Property and Equipment</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Property and equipment are stated at cost less accumulated depreciation and amortization. Depreciation and amortization are recognized on the straight-line method over the estimated useful lives of the assets (10 to 25 years for buildings and land improvements, and 3 to 10 years for equipment). Leasehold improvements are amortized on the straight-line method over the shorter of the estimated useful lives of the improvements or the term of the related leases. Interest costs associated with the construction of new restaurants are capitalized. Major improvements are also capitalized while repairs and maintenance are expensed as incurred. We review our long-lived assets whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. For purposes of this assessment, assets are evaluated at the lowest level for which there are identifiable cash flows. If the future undiscounted cash flows of an asset are less than the recorded value, an impairment is recorded for the difference between the carrying value and the estimated fair value of the asset. Refer to Note 3 for information regarding asset impairments.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Goodwill and Intangible Assets</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Goodwill and indefinite life intangibles are not amortized, but are tested for potential impairment on an annual basis, or more often if events or circumstances change that could cause goodwill or indefinite life intangibles to become impaired. Other purchased intangible assets are amortized over their estimated useful lives, generally on a straight-line basis. We perform reviews for impairment of intangible assets whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. An impairment loss is recognized when estimated future cash flows expected to result from the use of the asset and its eventual disposition are less than its carrying value. When an impairment is identified, we reduce the carrying value of the asset to its estimated fair value. No impairments were recorded on goodwill or intangible assets during fiscal years 2012, 2011 or 2010. Refer to Note 9 for information regarding our goodwill and other intangible assets.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Capitalized Software</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Internal-use software is stated at cost less accumulated amortization and is amortized using the straight-line method over its estimated useful life ranging from three to seven years. Software assets are reviewed for impairment when events or circumstances indicate that the carrying value may not be recoverable over the remaining lives of the assets. During the software application development stage, capitalized costs include external consulting costs, cost of software licenses, and internal payroll and payroll-related costs for employees who are directly associated with a software project. Upgrades and enhancements are capitalized if they result in added functionality which enables the software to perform tasks it was previously incapable of performing. Software maintenance, training, data conversion, and business process reengineering costs are expensed in the period in which they are incurred. Capitalized software is included in the balance of Other assets in the Consolidated Balance Sheet.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Due to Broker</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">D<font style="color: black">ue to broker represents margin debit balances collateralized by certain of the Company&#146;s investments in securities. </font></font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Operating Leases</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">The Company leases certain property under operating leases. Many of these lease agreements contain rent holidays, rent escalation clauses and/or contingent rent provisions. Rent expense is recognized on a straight-line basis over the expected lease term, including cancelable option periods when failure to exercise such options would result in an economic penalty. In addition, the rent commencement date of the lease term is the earlier of the date when we become legally obligated for the rent payments or the date when we take access to the property or the grounds for build out.</font> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Revenue Recognition</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Net Sales</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">We record revenue from restaurant sales at the time of sale, net of discounts. Revenue from the sale of gift cards is deferred at the time of sale and recognized upon redemption by the customer or at expiration of the gift cards. Sales revenues are presented net of sales taxes. Cost of sales primarily includes the cost of food and disposable paper and plastic goods used in preparing and selling our menu items and excludes depreciation and amortization, which is presented as a separate line item on the Consolidated Statement of Earnings.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Franchise Royalties and Fees</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Unit franchise fees and area development fees are recorded as revenue when the related restaurant begins operations. Royalty fees and administrative services fees are based on franchise sales and are recognized as revenue as earned.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Other Revenue</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Other revenue relates primarily to rental income.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Investment Gains/Losses from Consolidated Affiliated Partnerships</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Investment gains/losses from consolidated affiliated partnerships include realized and unrealized gains/losses on investments held by consolidated affiliated partnerships. Realized gains/losses from the disposal of investments held by consolidated affiliated partnerships are determined by specific identification of cost of investments sold.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Insurance Reserves</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">We self-insure a significant portion of expected losses under our workers&#146; compensation, general liability, auto, directors&#146; and officers&#146; and medical liability insurance programs, and record a reserve for our estimated losses on all unresolved open claims and our estimated incurred but not reported claims at the anticipated cost to us. Insurance reserves are recorded in the balance of Accrued expenses in the Consolidated Balance Sheet.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Earnings per share of common stock is based on the weighted average number of shares outstanding during the year. For financial reporting purposes all common shares of the Company held by the consolidated affiliated partnerships are recorded in Treasury stock on the Consolidated Balance Sheet. For purposes of computing the weighted average common shares outstanding, the shares of treasury stock attributable to the unrelated limited partners of the consolidated affiliated partnerships &#151; based on their proportional ownership during the period &#151; are considered outstanding shares.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">The following table presents a reconciliation of basic and diluted weighted average common shares.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">2012</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2011</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2010</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Basic earnings per share:</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 46%; padding-bottom: 1pt; text-indent: -13.65pt; padding-left: 13.65pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Weighted average common shares</font></td><td style="width: 5%; font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="width: 11%; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,334,007</font></td><td style="width: 1%; padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="width: 5%; padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="width: 11%; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,329,745</font></td><td style="width: 1%; padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="width: 5%; padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="width: 11%; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,396,892</font></td><td style="width: 1%; padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: -13.65pt; padding-left: 13.65pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Diluted earnings per share:</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: -13.65pt; padding-left: 13.65pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Weighted average common shares</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,334,007</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">1,329,745</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">1,396,892</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-bottom: 1pt; text-indent: -13.65pt; padding-left: 13.65pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Dilutive effect of stock awards</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">3,261</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">6,948</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">8,483</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: -13.65pt; padding-left: 13.65pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Weighted average common and incremental shares</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,337,268</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">1,336,693</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">1,405,375</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-bottom: 1pt; text-indent: -13.65pt; padding-left: 13.65pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Number of share-based awards excluded from the calculation of earnings per share as the awards&#146; exercise prices were greater than the average market price of the Company&#146;s common stock</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">705</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">705</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">12,962</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Stock-Based Compensation</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">We account for all stock-based compensation, including grants of employee stock options, nonvested stock and shares issued under our employee stock purchase plan, using the fair value based method. Refer to Note 17 for additional information regarding our stock-based compensation.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">The Steak n Shake 401(k) Savings Plan</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">The Steak n Shake 401(k) Savings Plan (the &#147;401(k) Plan&#148;) is a defined contribution plan covering substantially all employees after they have attained age 21 and completed six months of service and allows employees to defer up to 20% of their salaries and allows for discretionary matching contributions. Discretionary matching contributions of $213, $271 and $253 were made in fiscal years 2012, 2011 and 2010, respectively. Discretionary contributions starting in 2010 were based on the profitability of the Company and are subject to quarterly revision.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Marketing Expense</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Advertising costs are charged to expense at the latter of the date the expenditure is incurred or the date the promotional item is first communicated.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Non-Qualified Deferred Compensation Plan</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">We maintain The Steak n Shake Non-Qualified Savings Plan, a self-directed non-qualified deferred compensation plan (the &#147;Non-Qualified Plan&#148;) for executive employees. The Non-Qualified Plan allows highly compensated employees to defer amounts from their salaries for retirement savings and includes a discretionary employer match generally equal to the amount of the match the employee would have received as a participant in our 401(k) Plan. The Non-Qualified Plan is structured as a rabbi trust; therefore, assets in the Non-Qualified Plan are subject to creditor claims in the event of bankruptcy. We recognize investment assets in Other assets on the Consolidated Balance Sheet at current fair value. A liability of the same amount is recorded in Other long-term liabilities on the Consolidated Balance Sheet representing our obligation to distribute funds to participants. The investment assets are classified as trading, and accordingly, realized and unrealized gains and losses are recognized in income.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Use of Estimates</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Preparation of the consolidated financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from the estimates.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">New Accounting Standards</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">In October 2012, the FASB issued Accounting Standards Update (&#147;ASU&#148;) 2012-04, Technical Corrections and Improvements, which makes certain technical corrections (i.e., relatively minor corrections and clarifications) and &#147;conforming fair value amendments&#148; to the FASB Accounting Standards Codification (the &#147;Codification&#148;). The corrections and improvements include technical corrections based on feedback on the Codification and conforming amendments primarily related to fair value in areas outside of ASC 820. The amendments affect various Codification topics and apply to all reporting entities within the scope of those topics and become effective for the Company on December 20, 2012. We do not expect the adoption of ASU 2012-04 to have a material effect on our financial position or results of operations.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">In July 2012, the FASB issued ASU 2012&#8722;02, Intangibles&#151;Goodwill and Other (Topic 350): Testing Indefinite-Lived Intangible Assets for Impairment.&#160;&#160;The revised standard is intended to reduce the cost and complexity of testing indefinite-lived intangible assets other than goodwill for impairment. It allows companies to perform a &#147;qualitative&#148; assessment to determine whether further impairment testing of indefinite-lived intangible assets is necessary, similar in approach to the goodwill impairment test.&#160;&#160;The amendments are effective for annual and interim impairment tests performed for fiscal years beginning after September 15, 2012. Early adoption is permitted.&#160;&#160;We do not expect the provisions of ASU 2012-02 to have a material effect on our financial position or results of operations.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">In December 2011, the FASB issued ASU 2011&#8722;12, Comprehensive Income. The amendments in ASU 2011-12 supersede certain pending paragraphs in ASU 2011&#8722;05, Presentation of Comprehensive Income to effectively defer only those changes in ASU 2011&#8722;05 that relate to the presentation of reclassification adjustments out of accumulated other comprehensive income. The requirement to report comprehensive income either in a single continuous financial statement or in two separate but consecutive financial statements will become effective in the first quarter of fiscal 2013.&#160;&#160;The adoption of ASU 2011&#8722;12 will not impact the measurement of net earnings or other comprehensive income.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">In May 2011, the FASB issued ASU 2011&#8722;04, Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRSs (&#147;ASU 2011&#8722;04&#148;). ASU 2011&#8722;04 attempts to improve the comparability of fair value measurements disclosed in financial statements prepared in accordance with U.S. GAAP and IFRS. Amendments in ASU 2011&#8722; 04 clarify the intent of the application of existing fair value measurement and disclosure requirements, as well as change certain measurement requirements and disclosures. ASU 2011&#8722;04 was effective for the Company&#146;s first quarter of fiscal year 2012 and was applied on a prospective basis. The adoption of ASU 2011-04 did not have a material effect on the Company&#146;s consolidated financial statements.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;<br /></font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">In January 2010, the FASB issued ASU 2010&#8722;06, Improving Disclosures about Fair Value Measurements (&#147;ASU 2010&#8722;06&#148;). ASU 2010&#8722;06 amends ASC Topic 820, Fair Value Measurements and Disclosures (&#147;ASC Topic 820&#148;), and requires additional disclosure about significant transfers between levels 1, 2, and 3 of the fair value hierarchy as well as disclosure of changes in level 3 activity on a gross basis. In addition, the guidance clarifies existing requirements regarding the required level of disaggregation by class of assets and liabilities and also clarifies disclosures of inputs and valuation techniques. The guidance became effective beginning in the Company's second quarter of fiscal year 2010, except for the requirement to disclose level 3 activity on a gross basis, which became effective as of the beginning of the Company's fiscal year 2012. The adoption did not have a material impact on the Company's consolidated financial statements.</font></p> 683518000 28198000 <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="text-align: center">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="15" style="text-align: center; border-bottom: Black 1pt solid">September 26, 2012</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="15" style="text-align: center; border-bottom: Black 1pt solid">September 28, 2011</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: right">&#160;</td><td>&#160;</td> <td colspan="3" style="text-align: right">&#160;</td><td>&#160;</td> <td colspan="3" style="text-align: right">&#160;</td><td>&#160;</td> <td colspan="3" style="text-align: right">&#160;</td><td>&#160;</td> <td colspan="3" style="text-align: right">&#160;</td><td>&#160;</td> <td colspan="15" style="text-align: right">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center; padding-bottom: 1pt; vertical-align: bottom">&#160;</td><td style="padding-bottom: 1pt; text-align: center; vertical-align: bottom">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: center; vertical-align: bottom">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">Level 1</font></td><td style="padding-bottom: 1pt; text-align: center; vertical-align: bottom">&#160;</td><td style="padding-bottom: 1pt; text-align: center; vertical-align: bottom">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: center; vertical-align: bottom">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">Level 2</font></td><td style="padding-bottom: 1pt; text-align: center; vertical-align: bottom">&#160;</td><td style="padding-bottom: 1pt; text-align: center; vertical-align: bottom">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: center; vertical-align: bottom">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">Level 3</font></td><td style="padding-bottom: 1pt; text-align: center; vertical-align: bottom">&#160;</td><td style="padding-bottom: 1pt; text-align: center; vertical-align: bottom">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: center; vertical-align: bottom">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">Total</font></td><td style="padding-bottom: 1pt; text-align: center; vertical-align: bottom">&#160;</td><td style="padding-bottom: 1pt; text-align: center; vertical-align: bottom">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: center; vertical-align: bottom">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">Level 1</font></td><td style="padding-bottom: 1pt; text-align: center; vertical-align: bottom">&#160;</td><td style="padding-bottom: 1pt; text-align: center; vertical-align: bottom">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: center; vertical-align: bottom">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">Level 2</font></td><td style="padding-bottom: 1pt; text-align: center; vertical-align: bottom">&#160;</td><td style="padding-bottom: 1pt; text-align: center; vertical-align: bottom">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: center; vertical-align: bottom">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">Level 3</font></td><td style="padding-bottom: 1pt; text-align: center; vertical-align: bottom">&#160;</td><td style="padding-bottom: 1pt; text-align: center; vertical-align: bottom">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: center; vertical-align: bottom">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: center; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">Total</font></td><td style="padding-bottom: 1pt; text-align: center; vertical-align: bottom">&#160;</td></tr> <tr style="vertical-align: bottom"> <td>Assets</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="width: 28%; text-align: left">Cash equivalents</td><td style="width: 2%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 5%; text-align: right">14,286</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 2%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 5%; text-align: right">&#151;&#160;&#160;</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 2%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 5%; text-align: right">&#151;&#160;&#160;</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 2%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 5%; text-align: right">14,286</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 2%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 5%; text-align: right">&#151;&#160;&#160;</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 2%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 5%; text-align: right">88,022</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 2%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 5%; text-align: right">&#151;&#160;&#160;</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 2%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 5%; text-align: right">88,022</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left">Equity securities:</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td>&#160;&#160;Restaurant/Retail</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">266,940</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#151;&#160;&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#151;&#160;&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">266,940</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">89,971</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#151;&#160;&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#151;&#160;&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">89,971</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td>&#160;&#160;Other</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">2,918</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#151;&#160;&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#151;&#160;&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">2,918</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">25,350</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#151;&#160;&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#151;&#160;&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">25,350</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left">Equity securities held by consolidated affiliated partnerships:</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td>&#160;&#160;Restaurant/Retail</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">11,156</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#151;&#160;&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#151;&#160;&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">11,156</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">7,677</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#151;&#160;&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#151;&#160;&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">7,677</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td>&#160;&#160;Other</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1,805</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#151;&#160;&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#151;&#160;&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1,805</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">10,913</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#151;&#160;&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#151;&#160;&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">10,913</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left">Non-qualified deferred compensation plan investments</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">888</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">888</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">546</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#151;&#160;&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#151;&#160;&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">546</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-bottom: 1pt">Investment held by consolidated affiliated partnership</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">&#151;&#160;&#160;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">&#151;&#160;&#160;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">190</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">190</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">&#151;&#160;&#160;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">&#151;&#160;&#160;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">193</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">193</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-bottom: 1pt">Total assets at fair value</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">297,993</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">&#151;&#160;&#160;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">190</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">298,183</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">134,457</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">88,022</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">193</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">222,672</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td>&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td>Liabilities</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify; padding-bottom: 1pt">Interest rate swaps</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">&#151;&#160;&#160;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">351</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">&#151;&#160;&#160;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">351</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left"></td><td style="border-bottom: Black 1pt solid; text-align: right">&#151;&#160;&#160;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">439</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left"></td><td style="border-bottom: Black 1pt solid; text-align: right">&#151;&#160;&#160;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">439</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-bottom: 1pt">Total liabilities at fair value</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">&#151;&#160;&#160;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">351</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">&#151;&#160;&#160;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">351</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">&#151;&#160;&#160;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">439</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">&#151;&#160;&#160;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">439</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> </table> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"></p> 461000 48306000 38455000 98430000 99792000 35933000 29577000 52088000 45252000 2689000 -1103000 210000 -466000 -963000 -161000 -11000 27274000 2455000 13000000 84500000 132388000 -1548 -1995 10036 13579 10017 9836 P4Y5M P4Y5M 1003000 1000000 45000 35000 27834 11660 74000 210000 570000 662891000 718010000 689325000 8755000 15895000 16078000 671646000 733905000 705403000 233000 224000 1902000 6302000 3573000 2135000 6302000 3797000 673781000 740207000 709200000 -19367000 6150000 307000 608000 773787000 672860000 433382000 406619000 7526000 7919000 26348000 19186000 279002000 211607000 746258000 645331000 15000000 52088000 45252000 62245000 60075000 1559000 0 0 38411000 0 0 2651000 1545000 1780000 1878000 -8675000 -6664000 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td>&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid">September 29, 2010</td></tr> <tr style="vertical-align: bottom"> <td>&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(52 weeks)</font></td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="width: 70%; text-align: left">Net revenues</td><td style="width: 10%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">683,518</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left">Net earnings</td><td>&#160;</td> <td style="text-align: left">$</td><td style="text-align: right">28,198</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td>Basic earnings per share</td><td>&#160;</td> <td style="text-align: left">$</td><td style="text-align: right">20.25</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom"> <td>Diluted earnings per share</td><td>&#160;</td> <td style="text-align: left">$</td><td style="text-align: right">20.13</td><td style="text-align: left">&#160;</td></tr> </table> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif; width: 46%"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; width: 5%"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right; width: 11%"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; width: 5%"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif; width: 11%"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; width: 5%"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif; width: 11%"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Reconciliation of effective income tax:</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Tax at U.S. statutory rates (35%)</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">10,919</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">16,741</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">14,504</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">State income taxes, net of federal benefit</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,063</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">1,410</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">1,463</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Federal income tax credits</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(3,517</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(4,307)</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(4,146)</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Share-based payments</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">25</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">68</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">189</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Tax attributed to noncontrolling interests</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(1,103</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">210</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(466)</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Dividends received deduction</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(963</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(161)</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(11)</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Other</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">29</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(94)</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">486</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-bottom: 2.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Total income taxes</font> </td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">6,453</font></td><td style="padding-bottom: 2.5pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 2.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">13,867</font></td><td style="padding-bottom: 2.5pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 2.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">12,019</font></td><td style="padding-bottom: 2.5pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> 3188000 1909000 1317000 14503000 14503000 13026000 13026000 27529000 27529000 27529000 27529000 22959000 194000 275.89 282.44 244.77 344.62 276.03 277.43 158.52 3600000 0 0 1961000 3174000 0 <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Reclassification</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Debt issuance costs recorded in 2011 have been reclassified and are now presented in cash flows from financing activities in the Statement of Cash Flows to conform to the current year presentation.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> 4091037 1961000 3174000 <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">2012</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2011</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2010</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Basic earnings per share:</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 46%; padding-bottom: 1pt; text-indent: -13.65pt; padding-left: 13.65pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Weighted average common shares</font></td><td style="width: 5%; font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="width: 11%; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,334,007</font></td><td style="width: 1%; padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="width: 5%; padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="width: 11%; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,329,745</font></td><td style="width: 1%; padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="width: 5%; padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="width: 11%; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,396,892</font></td><td style="width: 1%; padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: -13.65pt; padding-left: 13.65pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Diluted earnings per share:</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: -13.65pt; padding-left: 13.65pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Weighted average common shares</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,334,007</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">1,329,745</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">1,396,892</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-bottom: 1pt; text-indent: -13.65pt; padding-left: 13.65pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Dilutive effect of stock awards</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">3,261</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">6,948</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">8,483</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: -13.65pt; padding-left: 13.65pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Weighted average common and incremental shares</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,337,268</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">1,336,693</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">1,405,375</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-bottom: 1pt; text-indent: -13.65pt; padding-left: 13.65pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Number of share-based awards excluded from the calculation of earnings per share as the awards&#146; exercise prices were greater than the average market price of the Company&#146;s common stock</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">705</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">705</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">12,962</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"></p> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">2012</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="5" style="text-align: center; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2011</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 56%; padding-left: 4.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Cost</font></td><td style="width: 8%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="width: 12%; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">199,057</font></td><td style="width: 1%; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="width: 8%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="width: 12%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">124,140</font></td><td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-left: 4.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Gross unrealized gains</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">71,416</font></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">1,956</font></td><td style="text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> </tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 4.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Gross unrealized losses</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(615</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td><td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(10,775</font></td><td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="padding-bottom: 2.5pt; padding-left: 4.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Fair value</font></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">269,858</font></td><td style="padding-bottom: 2.5pt; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 2.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">115,321</font></td><td style="padding-bottom: 2.5pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"></p> 2050000 6262000 0 32000 143000