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v3.24.2

Segment Information | 6 Months Ended
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Jun. 16, 2024
Segment Reporting [Abstract] |
Segment Information | 2. Segment Information The tables below summarize the financial information concerning the Company’s reportable segments for the second quarter and two fiscal quarters of 2024 and the second quarter and two fiscal quarters of 2023. 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 June 16, 2024 and June 18, 2023 |
|  | U.S. |  |  | Supply |  |  | International |  |  | Intersegment |  |  |  |  |  |  |
|  | Stores |  |  | Chain |  |  | Franchise |  |  | Revenues |  |  | Other |  |  | Total |
Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2024 |  | $ | 364,796 |  |  | $ | 686,464 |  |  | $ | 73,696 |  |  | $ | (27,220 | ) |  | $ | — |  |  | $ | 1,097,736 |
2023 |  |  | 338,421 |  |  |  | 641,481 |  |  |  | 70,495 |  |  |  | (25,770 | ) |  |  | — |  |  |  | 1,024,627 |
Segment Income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2024 |  | $ | 129,482 |  |  | $ | 64,986 |  |  | $ | 59,097 |  |  | N/A |  |  | $ | (26,165 | ) |  | $ | 227,400 |
2023 |  |  | 123,592 |  |  |  | 60,026 |  |  |  | 58,865 |  |  | N/A |  |  |  | (18,865 | ) |  |  | 223,618 |
|  | Two Fiscal Quarters Ended June 16, 2024 and June 18, 2023 |
|  | U.S. |  |  | Supply |  |  | International |  |  | Intersegment |  |  |  |  |  |  |
|  | Stores |  |  | Chain |  |  | Franchise |  |  | Revenues |  |  | Other |  |  | Total |
Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2024 |  | $ | 718,263 |  |  | $ | 1,373,390 |  |  | $ | 145,662 |  |  | $ | (54,932 | ) |  | $ | — |  |  | $ | 2,182,383 |
2023 |  |  | 668,922 |  |  |  | 1,291,605 |  |  |  | 140,166 |  |  |  | (51,668 | ) |  |  | — |  |  |  | 2,049,025 |
Segment Income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2024 |  | $ | 265,590 |  |  | $ | 129,563 |  |  | $ | 118,429 |  |  | N/A |  |  | $ | (44,339 | ) |  | $ | 469,243 |
2023 |  |  | 236,275 |  |  |  | 108,541 |  |  |  | 117,004 |  |  | N/A |  |  |  | (34,587 | ) |  |  | 427,233 |
The following table reconciles total Segment Income to consolidated income before provision for income taxes.
|  | Fiscal Quarter Ended |  |  | Two Fiscal Quarters Ended |
|  | June 16, |  |  | June 18, |  |  | June 16, |  |  | June 18, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Total Segment Income |  | $ | 227,400 |  |  | $ | 223,618 |  |  | $ | 469,243 |  |  | $ | 427,233 |
Depreciation and amortization |  |  | (20,349 | ) |  |  | (18,561 | ) |  |  | (40,218 | ) |  |  | (36,731 | )
Refranchising loss |  |  | (25 | ) |  |  | — |  |  |  | (158 | ) |  |  | (149 | )
Loss on sale/disposal of assets |  |  | (237 | ) |  |  | (127 | ) |  |  | (327 | ) |  |  | (402 | )
Non-cash equity-based compensation expense |  |  | (10,686 | ) |  |  | (9,527 | ) |  |  | (22,024 | ) |  |  | (17,065 | )
Income from operations |  |  | 196,103 |  |  |  | 195,403 |  |  |  | 406,516 |  |  |  | 372,886 |
Other income (expense) |  |  | 11,398 |  |  |  | (14,964 | ) |  |  | (7,301 | ) |  |  | (14,964 | )
Interest income |  |  | 4,219 |  |  |  | 2,537 |  |  |  | 7,958 |  |  |  | 4,928 |
Interest expense |  |  | (44,721 | ) |  |  | (44,932 | ) |  |  | (90,567 | ) |  |  | (91,479 | )
Income before provision for income taxes |  | $ | 166,999 |  |  | $ | 138,044 |  |  | $ | 316,606 |  |  | $ | 271,371 |

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