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Segment Information
6 Months Ended
Jul. 03, 2018
Segment Information  
Segment Information

 

9.  Segment Information

 

For decision-making purposes, our management reviews discrete financial information for The Cheesecake Factory, Grand Lux Cafe and RockSugar Southeast Asian Kitchen restaurants, our bakery division, consumer packaged goods 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. Grand Lux Cafe, RockSugar Southeast Asian Kitchen, bakery, consumer packaged goods and international licensing are combined in “Other.” Unallocated corporate expenses, assets and capital expenditures are presented below as reconciling items to the amounts presented in the condensed consolidated financial statements.

 

Segment information is presented below (in thousands):

 

 

 

Thirteen
Weeks Ended
July 3, 2018

 

Thirteen
Weeks Ended
July 4, 2017

 

Twenty-Six
Weeks Ended
July 3, 2018

 

Twenty-Six
Weeks Ended
July 4, 2017

 

Revenues:

 

 

 

 

 

 

 

 

 

The Cheesecake Factory restaurants

 

$

542,102

 

$

520,228

 

$

1,082,875

 

$

1,035,462

 

Other

 

51,076

 

49,641

 

100,994

 

97,833

 

 

 

 

 

 

 

 

 

 

 

Total

 

$

593,178

 

$

569,869

 

$

1,183,869

 

$

1,133,295

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income/(loss) from operations:

 

 

 

 

 

 

 

 

 

The Cheesecake Factory restaurants (1)

 

$

69,889

 

$

75,989

 

$

132,006

 

$

146,532

 

Other

 

3,983

 

6,291

 

9,794

 

12,929

 

Corporate

 

(39,329

)

(32,062

)

(75,706

)

(65,680

)

 

 

 

 

 

 

 

 

 

 

Total

 

$

34,543

 

$

50,218

 

$

66,094

 

$

93,781

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation and amortization:

 

 

 

 

 

 

 

 

 

The Cheesecake Factory restaurants

 

$

19,634

 

$

19,091

 

$

39,272

 

$

38,128

 

Other

 

2,832

 

2,998

 

5,932

 

5,975

 

Corporate

 

1,261

 

1,208

 

2,525

 

2,390

 

 

 

 

 

 

 

 

 

 

 

Total

 

$

23,727

 

$

23,297

 

$

47,729

 

$

46,493

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital expenditures:

 

 

 

 

 

 

 

 

 

The Cheesecake Factory restaurants

 

$

10,696

 

$

21,113

 

$

30,162

 

$

39,256

 

Other (2)

 

9,372

 

1,546

 

19,950

 

1,911

 

Corporate

 

1,114

 

1,817

 

1,758

 

2,532

 

 

 

 

 

 

 

 

 

 

 

Total

 

$

21,182

 

$

24,476

 

$

51,870

 

$

43,699

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

July 3, 2018

 

January 2, 2018

 

Total assets:

 

 

 

 

 

The Cheesecake Factory restaurants

 

$

910,889

 

$

937,512

 

Other

 

174,307

 

167,096

 

Corporate

 

221,443

 

228,452

 

 

 

 

 

 

 

Total

 

$

1,306,639

 

$

1,333,060

 

 

 

 

 

 

 

 

 

 

(1)

The thirteen and twenty-six weeks ended July 3, 2018 both include $2.6 million of lease termination costs related to the closure of one The Cheesecake Factory restaurant. The thirteen and twenty-six weeks ended July 4, 2017 includes $0.4 million and $1.2 million, respectively, of accelerated depreciation and impairment expense related to the relocation of one The Cheesecake Factory restaurant and the lease expiration of one The Cheesecake Factory restaurant.

 

(2)

The thirteen and twenty-six weeks ended July 3, 2018 include costs related to an infrastructure modernization of our California bakery facility.