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Segment Reporting:
 9 Months Ended
Sep. 26, 2015
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 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 26,
2015

 

September 27,
2014

 

September 26,
2015

 

September 27,
2014

 

Revenue:

 

 

 

 

 

 

 

 

 

Franchising

 

$
12,752,500 

 

$
12,282,600 

 

$
35,580,400 

 

$
33,340,900 

 

Leasing

 
3,247,000 

 
4,121,800 

 
16,919,900 

 
11,655,000 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

$
15,999,500 

 

$
16,404,400 

 

$
52,500,300 

 

$
44,995,900 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Reconciliation to operating income:

 

 

 

 

 

 

 

 

 

Franchising segment contribution

 

$
7,827,500 

 

$
7,132,700 

 

$
19,679,000 

 

$
17,145,100 

 

Leasing segment contribution

 
1,514,300 

 
2,045,000 

 
7,721,100 

 
6,559,700 

 

 

 

 

 

 

 

 

 

 

 

Total operating income

 

$
9,341,800 

 

$
9,177,700 

 

$
27,400,100 

 

$
23,704,800 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation:

 

 

 

 

 

 

 

 

 

Franchising

 

$
85,900 

 

$
80,700 

 

$
255,800 

 

$
240,400 

 

Leasing

 
22,700 

 
21,500 

 
67,000 

 
64,200 

 

 

 

 

 

 

 

 

 

 

 

Total depreciation

 

$
108,600 

 

$
102,200 

 

$
322,800 

 

$
304,600 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of

 

 

 

September 26,
2015

 

December 27,
2014

 

Identifiable assets:

 

 

 

 

 

Franchising

 

$
3,336,100 

 

$
3,258,300 

 

Leasing

 
40,739,800 

 
44,870,800 

 

Unallocated

 
2,698,700 

 
6,598,700 

 

 

 

 

 

 

 

Total

 

$
46,774,600 

 

$
54,727,800