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Segment Information (Tables) | 12 Months Ended
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Dec. 29, 2024
Segment Reporting [Abstract] |
Financial Information by Operating Segment | The tables below summarize the financial information, including revenues, significant segment expenses, Segment Income and capital expenditures, concerning the Company’s reportable segments for fiscal years 2024, 2023 and 2022. Intersegment revenues are comprised of sales of food, and to a lesser extent, other products, from the supply chain segment to the Company-owned stores in the U.S. stores segment. Intersegment sales prices are market based.
|  | Fiscal year ended December 29, 2024 |
|  | U.S. Stores |  |  | Supply Chain |  |  | International Franchise |  |  | Total |
U.S. Company-owned stores |  | $ | 393,898 |  |  | $ | — |  |  | $ | — |  |  | $ | 393,898 |
U.S. franchise royalties and fees |  |  | 638,193 |  |  |  | — |  |  |  | — |  |  |  | 638,193 |
Supply chain |  |  | — |  |  |  | 2,966,953 |  |  |  | — |  |  |  | 2,966,953 |
Supply chain - intersegment revenues |  |  | — |  |  |  | (121,172 | ) |  |  | — |  |  |  | (121,172 | )
International franchise royalties and fees |  |  | — |  |  |  | — |  |  |  | 318,691 |  |  |  | 318,691 |
U.S. franchise advertising |  |  | 509,853 |  |  |  | — |  |  |  | — |  |  |  | 509,853 |
Segment revenues |  | $ | 1,541,944 |  |  | $ | 2,845,781 |  |  | $ | 318,691 |  |  | $ | 4,706,416 |
Cost of sales - food |  |  | 114,220 |  |  |  | 2,027,816 |  |  |  | — |  |  |  | 2,142,036 |
Cost of sales - labor |  |  | 123,251 |  |  |  | 262,312 |  |  |  | — |  |  |  | 385,563 |
Cost of sales - other (1) |  |  | 78,197 |  |  |  | 202,694 |  |  |  | — |  |  |  | 280,891 |
U.S. franchise advertising |  |  | 509,853 |  |  |  | — |  |  |  | — |  |  |  | 509,853 |
General and administrative (2) |  |  | 151,030 |  |  |  | 72,348 |  |  |  | 58,029 |  |  |  | 281,407 |
Segment Income |  | $ | 565,393 |  |  | $ | 280,611 |  |  | $ | 260,662 |  |  | $ | 1,106,666 |
Segment capital expenditures (3) |  | $ | 10,959 |  |  | $ | 44,653 |  |  | $ | 33 |  |  | $ | 55,645 |
|  | Fiscal year ended December 31, 2023 |
|  | U.S. Stores |  |  | Supply Chain |  |  | International Franchise |  |  | Total |
U.S. Company-owned stores |  | $ | 376,180 |  |  | $ | — |  |  | $ | — |  |  | $ | 376,180 |
U.S. franchise royalties and fees |  |  | 604,897 |  |  |  | — |  |  |  | — |  |  |  | 604,897 |
Supply chain |  |  | — |  |  |  | 2,829,224 |  |  |  | — |  |  |  | 2,829,224 |
Supply chain - intersegment revenues |  |  | — |  |  |  | (114,215 | ) |  |  | — |  |  |  | (114,215 | )
International franchise royalties and fees |  |  | — |  |  |  | — |  |  |  | 310,077 |  |  |  | 310,077 |
U.S. franchise advertising |  |  | 473,195 |  |  |  | — |  |  |  | — |  |  |  | 473,195 |
Segment revenues |  | $ | 1,454,272 |  |  | $ | 2,715,009 |  |  | $ | 310,077 |  |  | $ | 4,479,358 |
Cost of sales - food |  |  | 109,554 |  |  |  | 1,964,500 |  |  |  | — |  |  |  | 2,074,054 |
Cost of sales - labor |  |  | 118,798 |  |  |  | 247,048 |  |  |  | — |  |  |  | 365,846 |
Cost of sales - other (1) |  |  | 75,457 |  |  |  | 192,794 |  |  |  | — |  |  |  | 268,251 |
U.S. franchise advertising |  |  | 473,195 |  |  |  | — |  |  |  | — |  |  |  | 473,195 |
General and administrative (2) |  |  | 156,291 |  |  |  | 65,237 |  |  |  | 50,469 |  |  |  | 271,997 |
Segment Income |  | $ | 520,977 |  |  | $ | 245,430 |  |  | $ | 259,608 |  |  | $ | 1,026,015 |
Segment capital expenditures (3) |  | $ | 11,942 |  |  | $ | 34,044 |  |  | $ | 93 |  |  | $ | 46,079 |
|  | Fiscal year ended January 1, 2023 |
|  | U.S. Stores |  |  | Supply Chain |  |  | International Franchise |  |  | Total |
U.S. Company-owned stores |  | $ | 445,810 |  |  | $ | — |  |  | $ | — |  |  | $ | 445,810 |
U.S. franchise royalties and fees |  |  | 556,269 |  |  |  | — |  |  |  | — |  |  |  | 556,269 |
Supply chain |  |  | — |  |  |  | 2,898,069 |  |  |  | — |  |  |  | 2,898,069 |
Supply chain - intersegment revenues |  |  | — |  |  |  | (143,327 | ) |  |  | — |  |  |  | (143,327 | )
International franchise royalties and fees |  |  | — |  |  |  | — |  |  |  | 295,007 |  |  |  | 295,007 |
U.S. franchise advertising |  |  | 485,330 |  |  |  | — |  |  |  | — |  |  |  | 485,330 |
Segment revenues |  | $ | 1,487,409 |  |  | $ | 2,754,742 |  |  | $ | 295,007 |  |  | $ | 4,537,158 |
Cost of sales - food |  |  | 139,887 |  |  |  | 2,046,049 |  |  |  | — |  |  |  | 2,185,936 |
Cost of sales - labor |  |  | 135,993 |  |  |  | 240,950 |  |  |  | — |  |  |  | 376,943 |
Cost of sales - other (1) |  |  | 88,764 |  |  |  | 194,919 |  |  |  | — |  |  |  | 283,683 |
U.S. franchise advertising |  |  | 485,330 |  |  |  | — |  |  |  | — |  |  |  | 485,330 |
General and administrative (2) |  |  | 198,831 |  |  |  | 64,025 |  |  |  | 58,863 |  |  |  | 321,719 |
Segment Income |  | $ | 438,604 |  |  | $ | 208,799 |  |  | $ | 236,144 |  |  | $ | 883,547 |
Segment capital expenditures (3) |  | $ | 9,830 |  |  | $ | 34,625 |  |  | $ | — |  |  | $ | 44,455 |
(1) Cost of sales - other, includes delivery, occupancy costs (including rent, telephone and utilities) and insurance expense. Depreciation and amortization is not included in the measurement of Segment Income. (2) General and administrative expense consists primarily of labor cost (including variable performance-based compensation expense), computer expenses, professional fees, travel and entertainment, rent, insurance and other. Depreciation and amortization, non-cash equity-based compensation expense and gains and losses from the sale of assets are not included in the measurement of Segment Income. (3) The Company also had $53.7 million, $59.2 million and $44.4 million of other capital expenditures not attributable to the reportable segments primarily representing capitalized software in 2024, 2023 and 2022, respectively.
Reconciliation of Total Segment Income to Consolidated Income Before Provision for Income Taxes | The following table reconciles total Segment Income to income before provision for income taxes:
|  | 2024 |  |  | 2023 |  |  | 2022 |
Total Segment Income |  | $ | 1,106,666 |  |  | $ | 1,026,015 |  |  | $ | 883,547 |
General and administrative - other (1) |  |  | (94,995 | ) |  |  | (86,894 | ) |  |  | (26,022 | )
Depreciation and amortization |  |  | (87,732 | ) |  |  | (80,640 | ) |  |  | (80,251 | )
Non-cash equity-based compensation expense |  |  | (43,255 | ) |  |  | (37,514 | ) |  |  | (28,709 | )
Loss on sale/disposal of assets |  |  | (1,527 | ) |  |  | (1,299 | ) |  |  | (1,813 | )
Refranchising (loss) gain |  |  | (158 | ) |  |  | (149 | ) |  |  | 21,173 |
Income from operations |  |  | 878,999 |  |  |  | 819,519 |  |  |  | 767,925 |
Other income |  |  | 22,064 |  |  |  | 17,713 |  |  |  | — |
Interest income |  |  | 17,022 |  |  |  | 11,683 |  |  |  | 3,162 |
Interest expense |  |  | (195,870 | ) |  |  | (196,475 | ) |  |  | (198,254 | )
Income before provision for income taxes |  | $ | 722,215 |  |  | $ | 652,440 |  |  | $ | 572,833 |
(1) Represents corporate administrative costs that have not been allocated to a reportable segment including labor, computer expenses, professional fees, travel and entertainment, rent, insurance and other corporate administrative costs.
Identifiable Asset Information | The following table summarizes the Company’s identifiable asset information by reportable segment as of December 29, 2024 and December 31, 2023:
|  | December 29, 2024 |  |  | December 31, 2023 |
U.S. stores |  | $ | 240,408 |  |  | $ | 232,336 |
Supply chain |  |  | 641,523 |  |  |  | 631,908 |
International franchise |  |  | 38,306 |  |  |  | 37,981 |
Reportable segment assets |  |  | 920,237 |  |  |  | 902,225 |
Unallocated |  |  | 816,776 |  |  |  | 772,674 |
Total assets |  | $ | 1,737,013 |  |  | $ | 1,674,899 |
Goodwill | The following table summarizes the Company’s goodwill balance by reportable segment as of December 29, 2024 and December 31, 2023:
|  | December 29, 2024 |  |  | December 31, 2023 |
U.S. stores |  | $ | 10,511 |  |  | $ | 10,621 |
Supply chain |  |  | 1,067 |  |  |  | 1,067 |
Consolidated goodwill |  | $ | 11,578 |  |  | $ | 11,688 |

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