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Segment Information

12 Months Ended

Dec. 31, 2024

Segment Information

Segment Information

(19) Segment Information

Our CODM is the Chief Executive Officer. The CODM assesses the performance of the business and allocates resources at the concept level and as a result we have identified Texas Roadhouse, Bubba's 33, Jaggers, and our retail initiatives as separate operating segments. Our reportable segments are Texas Roadhouse and Bubba's 33. The Texas Roadhouse reportable segment includes the results of our company and franchise Texas Roadhouse restaurants. The Bubba's 33 reportable segment includes the results of our company Bubba's 33 restaurants. Our remaining operating segments, which include the results of our company and franchise Jaggers restaurants and the results of our retail initiatives, are included in Other. In addition, corporate-related assets, depreciation and amortization, and capital expenditures are also included in Other.

The CODM uses restaurant margin as the primary financial measure for assessing the performance of our segments. Restaurant margin represents restaurant and other sales less restaurant-level operating costs, including food and beverage costs, labor, rent, and other operating costs. Restaurant margin is also used by our CODM to evaluate core restaurant-level operating efficiency and performance, assist in the evaluation of operating trends over time, and in making capital allocation decisions. Capital allocation decisions include approving new store openings and the refurbishment or relocation of existing restaurants.

In calculating restaurant margin, we exclude certain non-restaurant-level costs that support operations, including pre-opening and general and administrative expenses, but do not have a direct impact on restaurant-level operational efficiency and performance. We exclude pre-opening expenses as they occur at irregular intervals and would impact comparability to prior period results. We exclude depreciation and amortization expenses, substantially all of which relate to restaurant-level assets, as it represents a non-cash charge for the investment in our restaurants. We exclude impairment and closure expenses as we believe this provides a clearer perspective of the Company’s ongoing operating performance and a more useful comparison to prior period results. Restaurant margin as presented may not be comparable to other similarly titled measures of other companies in our industry.

Restaurant and other sales for all operating segments are derived primarily from food and beverage sales. We do not rely on any major customer as a source of sales and the customers and assets of our reportable segments are located predominantly in the United States. There are no material transactions between reportable segments.

The following tables reconcile our segment results to our consolidated results reported in accordance with GAAP:

​

​	​	​	​	​	​	​	​	​	​	​	​
​	Fiscal Year Ended December 31, 2024
​	Texas Roadhouse		​	Bubba's 33		​	Other		​	Total
Restaurant and other sales	$	5,012,707	​	$	297,608	​	$	31,538	​	$	5,341,853
Restaurant operating costs (excluding depreciation and amortization):	​	​	​	​	​	​	​	​	​	​	​
Food and Beverage	​	1,691,302	​	​	83,701	​	​	10,116	​	​	1,785,119
Labor	​	1,646,437	​	​	108,306	​	​	9,997	​	​	1,764,740
Rent	​	72,060	​	​	7,677	​	​	823	​	​	80,560
Other Operating	​	737,909	​	​	51,502	​	​	6,246	​	​	795,657
Restaurant margin	$	864,999	​	$	46,422	​	$	4,356	​	$	915,777
​	​	​	​	​	​	​	​	​	​	​	​
Depreciation and amortization	$	149,934	​	$	16,447	​	$	11,776	​	$	178,157
Segment assets	​	2,488,679	​	​	255,320	​	​	446,780	​	​	3,190,779
Capital expenditures	​	304,259	​	​	38,557	​	​	11,525	​	​	354,341
​	​	​	​	​	​	​	​	​	​	​	​
​	Fiscal Year Ended December 26, 2023
​	Texas Roadhouse		​	Bubba's 33		​	Other		​	Total
Restaurant and other sales	$	4,331,823	​	$	247,195	​	$	25,536	​	$	4,604,554
Restaurant operating costs (excluding depreciation and amortization):	​	​	​	​	​	​	​	​	​	​	​
Food and Beverage	​	1,514,421	​	​	71,101	​	​	8,330	​	​	1,593,852
Labor	​	1,438,802	​	​	92,241	​	​	8,081	​	​	1,539,124
Rent	​	65,519	​	​	6,624	​	​	623	​	​	72,766
Other Operating	​	641,923	​	​	43,287	​	​	5,638	​	​	690,848
Restaurant margin	$	671,158	​	$	33,942	​	$	2,864	​	$	707,964
​	​	​	​	​	​	​	​	​	​	​	​
Depreciation and amortization	$	126,719	​	$	14,210	​	$	12,273	​	$	153,202
Segment assets	​	2,290,213	​	​	232,086	​	​	271,077	​	​	2,793,376
Capital expenditures	​	306,599	​	​	27,908	​	​	12,527	​	​	347,034
​	​	​	​	​	​	​	​	​	​	​	​
​	Fiscal Year Ended December 27, 2022
​	Texas Roadhouse		​	Bubba's 33		​	Other		​	Total
Restaurant and other sales	$	3,762,884	​	$	211,690	​	$	14,217	​	$	3,988,791
Restaurant operating costs (excluding depreciation and amortization):	​	​	​	​	​	​	​	​	​	​	​
Food and Beverage	​	1,306,658	​	​	66,237	​	​	5,297	​	​	1,378,192
Labor	​	1,239,257	​	​	76,178	​	​	4,524	​	​	1,319,959
Rent	​	60,837	​	​	5,712	​	​	285	​	​	66,834
Other Operating	​	555,935	​	​	36,629	​	​	3,741	​	​	596,305
Restaurant margin	$	600,197	​	$	26,934	​	$	370	​	$	627,501
​	​	​	​	​	​	​	​	​	​	​	​
Depreciation and amortization	$	112,546	​	$	13,012	​	$	11,679	​	$	137,237
Capital expenditures	​	204,662	​	​	30,625	​	​	10,834	​	​	246,121

​

A reconciliation of restaurant margin to income from operations is presented below. We do not allocate interest income (expense), net and equity income from investments in unconsolidated affiliates to reportable segments.

​

​	​	​	​	​	​	​	​	​	​
​	​	Fiscal Year Ended
​	​	December 31, 2024		​	December 26, 2023		​	December 27, 2022
Restaurant margin	​	$	915,777	​	$	707,964	​	$	627,501
​	​	​	​	​	​	​	​	​	​
Add:	​	​	​	​	​	​	​	​	​
Franchise royalties and fees	​	​	31,479	​	​	27,118	​	​	26,128
​	​	​	​	​	​	​	​	​	​
Less:	​	​	​	​	​	​	​	​	​
Pre-opening	​	​	28,090	​	​	29,234	​	​	21,883
Depreciation and amortization	​	​	178,157	​	​	153,202	​	​	137,237
Impairment and closure, net	​	​	1,226	​	​	275	​	​	1,600
General and administrative	​	​	223,264	​	​	198,382	​	​	172,712
Income from operations	​	$	516,519	​	$	353,989	​	$	320,197
​	​	​	​	​	​	​	​	​	​

​

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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.

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