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v3.23.3

Segment Information (Tables) | 8 Months Ended
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Sep. 10, 2023
Segment Reporting [Abstract] |
Financial Information by Operating Segment | The following tables summarize revenues and earnings before interest, taxes, depreciation, amortization and other, which is the measure by which the Company allocates resources to its segments and which the Company refers to as Segment Income, for each of its reportable segments. 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.
|  | Fiscal Quarters Ended September 10, 2023 and September 11, 2022 |
|  | U.S. |  |  | Supply |  |  | International |  |  | Intersegment |  |  |  |  |  |  |
|  | Stores |  |  | Chain |  |  | Franchise |  |  | Revenues |  |  | Other |  |  | Total |
Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2023 |  | $ | 336,133 |  |  | $ | 643,728 |  |  | $ | 73,142 |  |  | $ | (25,642 | ) |  | $ | — |  |  | $ | 1,027,361 |
2022 |  |  | 355,459 |  |  |  | 683,267 |  |  |  | 67,055 |  |  |  | (37,185 | ) |  |  | — |  |  |  | 1,068,596 |
Segment Income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2023 |  | $ | 120,351 |  |  | $ | 55,250 |  |  | $ | 61,495 |  |  | N/A |  |  | $ | (19,809 | ) |  | $ | 217,287 |
2022 |  |  | 100,529 |  |  |  | 49,892 |  |  |  | 53,762 |  |  | N/A |  |  |  | (2,919 | ) |  |  | 201,264 |
|  | Three Fiscal Quarters Ended September 10, 2023 and September 11, 2022 |
|  | U.S. |  |  | Supply |  |  | International |  |  | Intersegment |  |  |  |  |  |  |
|  | Stores |  |  | Chain |  |  | Franchise |  |  | Revenues |  |  | Other |  |  | Total |
Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2023 |  | $ | 1,005,055 |  |  | $ | 1,935,332 |  |  | $ | 213,308 |  |  | $ | (77,309 | ) |  | $ | — |  |  | $ | 3,076,386 |
2022 |  |  | 1,039,909 |  |  |  | 2,008,526 |  |  |  | 202,803 |  |  |  | (106,311 | ) |  |  | — |  |  |  | 3,144,927 |
Segment Income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2023 |  | $ | 356,626 |  |  | $ | 163,791 |  |  | $ | 178,499 |  |  | N/A |  |  | $ | (54,396 | ) |  | $ | 644,520 |
2022 |  |  | 301,876 |  |  |  | 149,874 |  |  |  | 161,698 |  |  | N/A |  |  |  | (16,250 | ) |  |  | 597,198 |
In the first quarter of 2023, the Company changed its allocation methodology for certain costs which support certain internally
Reconciliation of Total Segment Income to Consolidated Income Before Provision for Income Taxes | The following table reconciles total Segment Income to consolidated income before provision for income taxes.
|  | Fiscal Quarter Ended |  |  | Three Fiscal Quarters Ended |
|  | September 10, |  |  | September 11, |  |  | September 10, |  |  | September 11, |
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Total Segment Income |  | $ | 217,287 |  |  | $ | 201,264 |  |  | $ | 644,520 |  |  | $ | 597,198 |
Depreciation and amortization |  |  | (18,268 | ) |  |  | (18,933 | ) |  |  | (54,999 | ) |  |  | (56,026 | )
Refranchising loss |  |  | — |  |  |  | — |  |  |  | (149 | ) |  |  | — |
Loss on sale/disposal of assets |  |  | (145 | ) |  |  | (27 | ) |  |  | (547 | ) |  |  | (475 | )
Non-cash equity-based compensation expense |  |  | (9,442 | ) |  |  | (5,852 | ) |  |  | (26,507 | ) |  |  | (21,590 | )
Income from operations |  |  | 189,432 |  |  |  | 176,452 |  |  |  | 562,318 |  |  |  | 519,107 |
Other income |  |  | 28,231 |  |  |  | — |  |  |  | 13,267 |  |  |  | — |
Interest income |  |  | 2,707 |  |  |  | 833 |  |  |  | 7,635 |  |  |  | 1,101 |
Interest expense |  |  | (44,796 | ) |  |  | (45,437 | ) |  |  | (136,275 | ) |  |  | (137,160 | )
Income before provision for income taxes |  | $ | 175,574 |  |  | $ | 131,848 |  |  | $ | 446,945 |  |  | $ | 383,048 |

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- Definition Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-25 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
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