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Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Mar. 27, 2019
Mar. 28, 2018
Mar. 27, 2019
Mar. 28, 2018
Statement of Comprehensive Income [Abstract]        
Total revenues $ 839.3 $ 812.5 $ 2,383.8 $ 2,318.3
Revenue from contract with customer, excluding assessed tax 811.6   2,301.4  
Operating costs and expenses        
Cost of sales 216.7 207.3 609.5 587.8
Restaurant labor 274.0 265.4 791.1 766.9
Restaurant expenses (Note 2) 204.7 190.2 609.4 566.9
Company restaurant expenses [1] 695.4 662.9 2,010.0 1,921.6
Depreciation and amortization 36.4 37.5 109.5 113.7
General and administrative 40.8 36.7 110.0 102.1
Other (gains) and charges (3.5) 2.7 (12.4) [2] 25.2
Total operating costs and expenses 769.1 739.8 2,217.1 2,162.6
Operating income 70.2 72.7 166.7 155.7
Interest expense 15.3 14.6 46.3 42.8
Other (income), net (0.6) (0.8) (2.2) (2.3)
Income before provision for income taxes 55.5 58.9 122.6 115.2
Provision for income taxes 5.7 12.0 14.4 33.1
Net income $ 49.8 $ 46.9 $ 108.2 $ 82.1
Basic net income per share $ 1.33 $ 1.03 $ 2.80 $ 1.76
Diluted net income per share $ 1.31 $ 1.02 $ 2.75 $ 1.74
Basic weighted average shares outstanding 37.5 45.4 38.6 46.7
Diluted weighted average shares outstanding 38.1 46.0 39.3 47.2
Other comprehensive income (loss)        
Foreign currency translation adjustment $ 0.2 $ (0.2) $ (0.1) $ 0.6
Other comprehensive income (loss) 0.2 (0.2) (0.1) 0.6
Comprehensive income 50.0 46.7 108.1 82.7
Company sales [Member]        
Statement of Comprehensive Income [Abstract]        
Total revenues   790.5   2,250.1
Revenue from contract with customer, excluding assessed tax 811.6 790.5 2,301.4 2,250.1
Franchise and other revenues [Member]        
Statement of Comprehensive Income [Abstract]        
Total revenues   22.0   68.2
Revenue from contract with customer, excluding assessed tax $ 27.7 $ 22.0 $ 82.4 $ 68.2
[1] Company restaurant expenses include Cost of sales, Restaurant labor, and Restaurant expenses including advertising expenses. With the adoption of ASC 606, for the thirteen and thirty-nine week periods ended March 27, 2019, advertising contributions received from Chili’s franchisees are recorded as Franchise fees and other revenues within Total revenues, which differs from the thirteen and thirty-nine week periods ended March 28, 2018 that includes Chili’s franchise advertising contributions recorded on a net basis within Company restaurant expenses.
[2] During the thirty-nine week period ended March 27, 2019 we completed sale leaseback transactions of 149 company-owned Chili’s restaurant properties. As part of this transaction, we sold the related restaurant fixed assets, net of accumulated depreciation, totaling $178.6 million. Additionally, Chili’s recognized $22.0 million of gain on the sale, including a certain portion of the deferred gain, net of related transaction costs incurred in Other (gains) and charges in the Consolidated Statements of Comprehensive Income. Please see Note 3 - Sale Leaseback Transactions for further details.