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Segment Information

12 Months Ended

Jan. 02, 2024

Segment Information

Segment Information

18.   Segment Information

Our operating segments, the businesses for which our management reviews discrete financial information for decision-making purposes, are comprised of The Cheesecake Factory, North Italia, Flower Child, the other FRC brands and our bakery division. Based on quantitative thresholds set forth in ASC 280, “Segment Reporting,” The Cheesecake Factory, North Italia and the other FRC brands are the only businesses that meet the criteria of a reportable operating segment. The remaining operating segments (Flower Child and our bakery division) along with our businesses that do not qualify as operating segments are combined in Other. Unallocated corporate expenses, capital expenditures and assets are also combined in Other.

Segment information is presented below (in thousands):

​

​	​	​	​	​	​	​	​	​	​
​	​	Fiscal Year
​		2023			2022			2021
Revenues:	​	​	​	​	​	​	​	​	​
The Cheesecake Factory restaurants	​	$	2,595,066	​	$	2,528,043	​	$	2,293,225
North Italia	​	​	258,878	​	​	228,622	​	​	171,901
Other FRC	​	​	263,923	​	​	237,552	​	​	182,175
Other	​		321,636	​		308,939	​		280,239
Total	​	$	3,439,503	​	$	3,303,156	​	$	2,927,540
​	​	​	​	​	​	​	​	​	​
Income from operations:	​	​	​	​	​	​	​	​	​
The Cheesecake Factory restaurants	​	$	297,063	​	$	220,765	​	$	242,599
North Italia	​	​	18,515	​	​	13,934	​	​	8,624
Other FRC	​	​	19,422	​	​	23,577	​	​	16,323
Other(1)	​		(226,434)	​		(219,341)	​		(185,228)
Total	​	$	108,566	​	$	38,935	​	$	82,318
​	​	​	​	​	​	​	​	​	​
Depreciation and amortization expenses:	​	​	​	​	​	​	​	​	​
The Cheesecake Factory restaurants	​	$	64,206	​	$	66,539	​	$	65,987
North Italia	​	​	6,407	​	​	5,713	​	​	4,078
Other FRC	​	​	7,916	​	​	6,231	​	​	4,802
Other	​		14,607	​		13,897	​		14,787
Total	​	$	93,136	​	$	92,380	​	$	89,654
​	​	​	​	​	​	​	​	​	​
Impairment of assets and lease termination expenses:	​	​	​	​	​	​	​	​	​
The Cheesecake Factory restaurants	​	$	20,401	​	$	19,701	​	$	11,904
North Italia	​	​	1,015	​	​	—	​	​	—
Other FRC	​	​	2,582	​	​	3,909	​	​	1,305
Other	​	​	5,466	​	​	7,777	​	​	4,930
Total	​	$	29,464	​	$	31,387	​	$	18,139
​	​	​	​	​	​	​	​	​	​
Preopening costs:	​	​	​	​	​	​	​	​	​
The Cheesecake Factory restaurants	​	$	12,857	​	$	9,525	​	$	4,868
North Italia	​	​	5,058	​	​	4,305	​	​	4,510
Other FRC	​	​	6,482	​	​	1,361	​	​	3,188
Other	​		982	​	​	1,638	​	​	1,145
Total	​	$	25,379	​	$	16,829	​	$	13,711
​	​	​	​	​	​	​	​	​	​
Capital expenditures:	​	​	​	​	​	​	​	​	​
The Cheesecake Factory restaurants	​	$	80,752	​	$	65,996	​	$	31,832
North Italia	​	​	26,882	​	​	14,818	​	​	12,539
Other FRC	​	​	27,562	​	​	18,895	​	​	13,524
Other	​	​	16,369	​	​	12,755	​	​	9,048
Total	​	$	151,565	​	$	112,464	​	$	66,943
​	​	​	​	​	​	​	​	​	​
Total assets:	​	​	​	​	​	​	​	​	​
The Cheesecake Factory restaurants	​	$	1,571,943	​	$	1,625,073	​	$	1,653,161
North Italia	​	​	346,810	​	​	306,642	​	​	270,029
Other FRC	​	​	399,038	​	​	301,618	​	​	276,369
Other	​		522,592	​		541,887	​		598,566
Total	​	$	2,840,383	​	$	2,775,220	​	$	2,798,125

(1) Fiscal 2023, 2022 and fiscal 2021 include $11.7 million, $13.4 million and $19.5 million, respectively, of acquisition-related expenses. These amounts were recorded in acquisition-related costs and acquisition-related contingent consideration, compensation and amortization expenses in the consolidated statements of income.

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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.

+ References

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