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Segment Information
 6 Months Ended
Jul. 02, 2013
Segment Information  
Segment Information

8.  Segment Information

 

For decision-making purposes, our management reviews discrete financial information for The Cheesecake Factory, Grand Lux Cafe and RockSugar Pan Asian Kitchen restaurants, our bakery division and our international licensing operations.  Based on quantitative thresholds set forth in ASC 280, “Segment Reporting,” The Cheesecake Factory is our only business that meets the criteria of a reportable operating segment.  We formerly disclosed segment information for our bakery operations.  However, as we expanded our domestic restaurants and international licensing arrangements, our bakery segment became a smaller proportion of our operations and now falls below the thresholds of a reportable segment.  Therefore, we are no longer reporting this component separately. Grand Lux Cafe, RockSugar Pan Asian Kitchen and international licensing were previously combined with The Cheesecake Factory in a segment named Restaurants. These components are now combined with our bakery operations in Other. Unallocated corporate expenses, assets and capital expenditures are presented below as reconciling items to the amounts presented in the consolidated financial statements.

 

Segment information is presented below (in thousands):

 

 

 

Thirteen
Weeks Ended
July 2, 2013

 

Thirteen
Weeks Ended
July 3, 2012

 

Twenty-Six
Weeks Ended
July 2, 2013

 

Twenty-Six
Weeks Ended
July 3, 2012

 

Revenues:

 

 

 

 

 

 

 

 

 

The Cheesecake Factory restaurants

 

$

424,845

 

$

408,933

 

$

837,396

 

$

799,680

 

Other

 

45,273

 

45,816

 

95,740

 

90,823

 

Total

 

$

470,118

 

$

454,749

 

$

933,136

 

$

890,503

 

 

 

 

 

 

 

 

 

 

 

Income from operations:

 

 

 

 

 

 

 

 

 

The Cheesecake Factory restaurants (1)

 

$

62,718

 

$

64,820

 

$

121,955

 

$

118,631

 

Other (2)

 

5,106

 

3,218

 

9,606

 

6,729

 

Corporate

 

(26,654

)

(27,068

)

(53,604

)

(54,171

)

Total

 

$

41,170

 

$

40,970

 

$

77,957

 

$

71,189

 

 

Depreciation and amortization:

 

 

 

 

 

 

 

 

 

The Cheesecake Factory restaurants

 

$

15,551

 

$

15,119

 

$

31,066

 

$

30,045

 

Other

 

2,605

 

2,329

 

5,225

 

4,656

 

Corporate

 

1,059

 

1,061

 

2,154

 

2,106

 

Total

 

$

19,215

 

$

18,509

 

$

38,445

 

$

36,807

 

 

 

 

 

 

 

 

 

 

 

Capital expenditures:

 

 

 

 

 

 

 

 

 

The Cheesecake Factory restaurants

 

$

20,721

 

$

11,489

 

$

33,995

 

$

20,800

 

Other

 

1,305

 

4,730

 

1,483

 

10,117

 

Corporate

 

910

 

1,851

 

2,039

 

3,502

 

Total

 

$

22,936

 

$

18,070

 

$

37,517

 

$

34,419

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

July 2, 2013

 

January 1, 2013

 

Total assets:

 

 

 

 

 

 

 

 

 

The Cheesecake Factory restaurants

 

 

 

 

 

$

763,313

 

$

764,208

 

Other

 

 

 

 

 

161,590

 

165,274

 

Corporate

 

 

 

 

 

199,984

 

162,685

 

Total

 

 

 

 

 

$

1,124,887

 

$

1,092,167

 

 

(1)         Includes $1.5 million of pre-tax impairment expense in the second quarter of fiscal 2013 related to the planned relocation of two of our restaurants.  This item was recorded in impairment of assets and lease terminations.

 

(2)         Includes $0.6 million in future rent and other closing costs in the first quarter of fiscal 2013 for three Grand Lux Cafe locations where we discontinued operations in March 2013.  This item was recorded in impairment of assets and lease terminations.