XML 35 R19.htm IDEA: XBRL DOCUMENT
v3.22.4

Segment Information | 12 Months Ended
--- | ---
Jan. 01, 2023
Segment Reporting [Abstract] |
Segment Information | (11) Segment Information The Company has three reportable segments: (i) U.S. stores; (ii) supply chain; and (iii) international franchise. The Company’s operations are organized by management on the combined basis of line of business and geography. The U.S. stores segment includes operations with respect to all franchised and Company-owned stores throughout the U.S. The supply chain segment primarily includes the distribution of food, equipment and supplies to stores from the Company’s supply chain center operations in the U.S. and Canada. Over 90% of the Company's supply chain revenues are attributable to the U.S. The international franchise segment primarily includes operations related to the Company’s franchising business in foreign markets. The accounting policies of the reportable segments are the same as those described in Note 1. The Company evaluates the performance of its segments and allocates resources to them based on earnings before interest, taxes, depreciation, amortization and other, referred to as Segment Income. The tables below summarize the financial information concerning the Company’s reportable segments for fiscal 2022, 2021 and 2020. Intersegment revenues are comprised of sales of food, equipment and supplies from the supply chain segment to the Company-owned stores in the U.S. stores segment. Intersegment sales prices are market based. The “Other” column as it relates to Segment Income below primarily includes corporate administrative costs that are not allocable to a reportable segment, including labor, computer expenses, professional fees, travel and entertainment, rent, insurance and other corporate administrative costs. The “Other” column as it relates to capital expenditures primarily includes capitalized software, certain equipment and leasehold improvements for the Company's corporate offices.
|  | U.S. Stores |  |  | Supply Chain |  |  | International Franchise |  |  | Intersegment Revenues |  |  | Other |  |  | Total |
Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2022 |  | $ | 1,487,409 |  |  | $ | 2,898,069 |  |  | $ | 295,007 |  |  | $ | (143,327 | ) |  | $ | — |  |  | $ | 4,537,158 |
2021 |  |  | 1,498,360 |  |  |  | 2,699,863 |  |  |  | 298,036 |  |  |  | (138,886 | ) |  |  | — |  |  |  | 4,357,373 |
2020 |  |  | 1,451,003 |  |  |  | 2,552,795 |  |  |  | 249,757 |  |  |  | (136,144 | ) |  |  | — |  |  |  | 4,117,411 |
Segment Income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2022 |  | $ | 438,604 |  |  | $ | 208,799 |  |  | $ | 236,144 |  |  | N/A |  |  | $ | (26,022 | ) |  | $ | 857,525 |
2021 |  |  | 454,875 |  |  |  | 229,877 |  |  |  | 241,873 |  |  | N/A |  |  |  | (42,926 | ) |  |  | 883,699 |
2020 |  |  | 435,089 |  |  |  | 238,420 |  |  |  | 197,602 |  |  | N/A |  |  |  | (53,265 | ) |  |  | 817,846 |
Capital Expenditures |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2022 |  | $ | 9,830 |  |  | $ | 34,625 |  |  | $ | — |  |  | N/A |  |  | $ | 44,384 |  |  | $ | 88,839 |
2021 |  |  | 13,680 |  |  |  | 37,063 |  |  |  | — |  |  | N/A |  |  |  | 44,894 |  |  |  | 95,637 |
2020 |  |  | 15,319 |  |  |  | 36,229 |  |  |  | — |  |  | N/A |  |  |  | 35,371 |  |  |  | 86,919 |
The following table reconciles total Segment Income to income before provision for income taxes:
|  | 2022 |  |  | 2021 |  |  | 2020 |
Total Segment Income |  | $ | 857,525 |  |  | $ | 883,699 |  |  | $ | 817,846 |
Depreciation and amortization |  |  | (80,251 | ) |  |  | (72,923 | ) |  |  | (65,038 | )
Refranchising gain |  |  | 21,173 |  |  |  | — |  |  |  | — |
Loss on sale/disposal of assets |  |  | (1,813 | ) |  |  | (1,189 | ) |  |  | (2,922 | )
Non-cash equity-based compensation expense |  |  | (28,709 | ) |  |  | (28,670 | ) |  |  | (24,244 | )
Recapitalization-related expenses |  |  | — |  |  |  | (509 | ) |  |  | — |
Income from operations |  |  | 767,925 |  |  |  | 780,408 |  |  |  | 725,642 |
Other income |  |  | — |  |  |  | 36,758 |  |  |  | — |
Interest income |  |  | 3,162 |  |  |  | 345 |  |  |  | 1,654 |
Interest expense |  |  | (198,254 | ) |  |  | (191,806 | ) |  |  | (172,166 | )
Income before provision for income taxes |  | $ | 572,833 |  |  | $ | 625,705 |  |  | $ | 555,130 |
The following table summarizes the Company’s identifiable asset information by reportable segment as of January 1, 2023 and January 2, 2022:
|  | January 1, 2023 |  |  | January 2, 2022 |
U.S. stores |  | $ | 288,149 |  |  | $ | 340,984 |
Supply chain |  |  | 614,168 |  |  |  | 558,251 |
International franchise |  |  | 36,874 |  |  |  | 41,279 |
Unallocated |  |  | 663,030 |  |  |  | 731,302 |
Total assets |  | $ | 1,602,221 |  |  | $ | 1,671,816 |
Unallocated assets primarily include cash and cash equivalents, restricted cash and cash equivalents, certain accounts receivable and prepaid expenses, investments in equity securities without readily determinable fair values and marketable securities, certain long-lived assets including certain property, plant and equipment, capitalized software and the operating lease right-of-use asset for the Company’s corporate headquarters and deferred income taxes. Over 95% of the Company's long-lived assets including property, plant and equipment, capitalized software and operating lease right-of-use assets are located in the U.S. The following table summarizes the Company’s goodwill balance by reportable segment as of January 1, 2023 and January 2, 2022:
|  | January 1, 2023 |  |  | January 2, 2022 |
U.S. stores |  | $ | 10,696 |  |  | $ | 13,967 |
Supply chain |  |  | 1,067 |  |  |  | 1,067 |
Consolidated goodwill |  | $ | 11,763 |  |  | $ | 15,034 |

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI https://asc.fasb.org/topic&trid=2134510 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration