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Segment Reporting:
 9 Months Ended
Sep. 29, 2012
Segment Reporting:  
Segment Reporting:

11.       Segment Reporting:

 

The Company currently has two reportable business segments, franchising and leasing.  The franchising segment franchises value-oriented retail store concepts that buy, sell, trade and consign merchandise.  The leasing segment includes (i) Winmark Capital Corporation, a middle-market equipment leasing business and (ii) Wirth Business Credit, Inc., a small ticket financing business.  Segment reporting is intended to give financial statement users a better view of how the Company manages and evaluates its businesses. The Company’s internal management reporting is the basis for the information disclosed for its business segments and includes allocation of shared-service costs.  Segment assets are those that are directly used in or identified with segment operations, including cash, accounts receivable, prepaids, inventory, property and equipment and investment in leasing operations. Unallocated assets include corporate cash and cash equivalents, marketable securities, current and long-term investments, deferred tax amounts and other corporate assets.  Inter-segment balances and transactions have been eliminated.  The following tables summarize financial information by segment and provide a reconciliation of segment contribution to operating income:

 

 

 

Three Months Ended

 

Nine Months Ended

 

 

 

September 29,
 2012

 

September 24, 
2011

 

September 29, 
2012

 

September 24, 
2011

 

Revenue:

 

 

 

 

 

 

 

 

 

Franchising

 

$

10,486,400

 

$

9,400,700

 

$

28,835,100

 

$

25,475,200

 

Leasing

 

4,312,700

 

2,372,800

 

9,989,800

 

12,628,000

 

Total revenue

 

$

14,799,100

 

$

11,773,500

 

$

38,824,900

 

$

38,103,200

 

 

 

 

 

 

 

 

 

 

 

Reconciliation to operating income:

 

 

 

 

 

 

 

 

 

Franchising segment contribution

 

$

6,235,900

 

$

5,637,400

 

$

15,335,700

 

$

13,090,500

 

Leasing segment contribution

 

2,227,600

 

1,008,300

 

5,000,500

 

4,851,300

 

Total operating income

 

$

8,463,500

 

$

6,645,700

 

$

20,336,200

 

$

17,941,800

 

 

 

 

 

 

 

 

 

 

 

Depreciation:

 

 

 

 

 

 

 

 

 

Franchising

 

$

83,400

 

$

92,200

 

$

253,600

 

$

280,700

 

Leasing

 

23,800

 

26,700

 

73,000

 

80,900

 

Total depreciation

 

$

107,200

 

$

118,900

 

$

326,600

 

$

361,600

 

 

 

 

As of

 

 

 

September 29,
 2012

 

December 31,
2011

 

Identifiable assets:

 

 

 

 

 

Franchising

 

$

3,131,600

 

$

7,753,200

 

Leasing

 

35,480,300

 

33,374,000

 

Unallocated

 

        4,530,100

 

        6,618,500

 

Total

 

$

43,142,000

 

$

47,745,700