XML 43 R33.htm IDEA: XBRL DOCUMENT
v3.24.1.u1

Segment Information (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2024
Segment Reporting [Abstract] |
Schedule of segment information | The following tables present our segment information.
|  | Three Months Ended |  |
(In thousands) |  | March 31, 2024 |  | March 26, 2023 |  |  |  |
Revenues: |  |  |  |  |  |  |  |
Domestic Company-owned restaurants |  | $ | 176,224 |  | $ | 179,866 |  |  |  |
North America franchising |  | 35,697 |  | 36,072 |  |  |  |
North America commissaries |  | 203,287 |  | 212,566 |  |  |  |
International |  | 46,673 |  | 38,704 |  |  |  |
All others |  | 52,035 |  | 59,841 |  |  |  |
Total revenues |  | $ | 513,916 |  | $ | 527,049 |  |  |  |
Intersegment revenues: |  |  |  |  |  |  |  |
North America franchising |  | $ | 1,049 |  | $ | 1,052 |  |  |  |
North America commissaries |  | 49,267 |  | 51,817 |  |  |  |
All others |  | 13,172 |  | 16,835 |  |  |  |
Total intersegment revenues |  | $ | 63,488 |  | $ | 69,704 |  |  |  |
Operating income: |  |  |  |  |  |  |  |
Domestic Company-owned restaurants |  | $ | 10,359 |  | $ | 6,650 |  |  |  |
North America franchising |  | 33,711 |  | 33,400 |  |  |  |
North America commissaries |  | 12,335 |  | 10,730 |  |  |  |
International (a) |  | (5,989) |  | 7,232 |  |  |  |
All others |  | 3,198 |  | 3,157 |  |  |  |
Unallocated corporate expenses (b) |  | (19,642) |  |  | (23,366) |  |  |  |  |
Elimination of intersegment (profits) losses |  | (254) |  |  | (7) |  |  |  |
Total operating income |  | $ | 33,718 |  | $ | 37,796 |  |  |  |
Property and equipment, net: |  |  |  |  |  |  |  |
Domestic Company-owned restaurants |  | $ | 263,832 |  |  |  |  |  |
North America commissaries |  | 162,491 |  |  |  |  |  |
International |  | 28,456 |  |  |  |  |  |
All others |  | 138,346 |  |  |  |  |  |
Unallocated corporate assets |  | 254,290 |  |  |  |  |  |
Accumulated depreciation and amortization |  | (574,112) |  |  |  |  |  |  |
Total property and equipment, net |  | $ | 273,303 |  |  |  |  |  |
___________________________________ (a) The three months ended March 31, 2024 includes $9.5 million of costs related to the International Transformation Plan. See “Note 9. Restructuring” for additional information. (b) The three months ended March 26, 2023 includes $1.4 million of severance and related costs associated with the transition of certain executives.
Schedule of revenue disaggregated by major product line | In the following tables, revenues are disaggregated by major product/service line. The tables also include a reconciliation of the disaggregated revenues by the reportable segment (in thousands):
|  | Reportable Segments
|  | Three Months Ended March 31, 2024
Major Products/Services Lines |  | Domestic Company-owned restaurants |  | North America franchising |  | North America commissaries |  | International |  | All others |  | Total
Company-owned restaurant sales |  | $ | 176,224 |  |  | $ | — |  |  | $ | — |  |  | $ | 15,027 |  |  | $ | — |  |  | $ | 191,251 |
Franchise royalties and fees |  | — |  |  | 36,746 |  |  | — |  |  | 11,456 |  |  | — |  |  | 48,202 |
Commissary sales |  | — |  |  | — |  |  | 252,554 |  |  | 14,225 |  |  | — |  |  | 266,779 |
Other revenues |  | — |  |  | — |  |  | — |  |  | 5,965 |  |  | 65,207 |  |  | 71,172 |
Eliminations |  | — |  |  | (1,049) |  |  | (49,267) |  |  | — |  |  | (13,172) |  |  | (63,488) |
Total segment revenues |  | 176,224 |  |  | 35,697 |  |  | 203,287 |  |  | 46,673 |  |  | 52,035 |  |  | 513,916 |
International other revenues (a) |  | — |  |  | — |  |  | — |  |  | (5,965) |  |  | 5,965 |  |  | — |
Total revenues |  | $ | 176,224 |  |  | $ | 35,697 |  |  | $ | 203,287 |  |  | $ | 40,708 |  |  | $ | 58,000 |  |  | $ | 513,916 |
|  | Reportable Segments
|  | Three Months Ended March 26, 2023
Major Products/Services Lines |  | Domestic Company-owned restaurants |  | North America franchising |  | North America commissaries |  | International |  | All others |  | Total
Company-owned restaurant sales |  | $ | 179,866 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 179,866 |
Franchise royalties and fees |  | — |  |  | 37,124 |  |  | — |  |  | 12,491 |  |  | — |  |  | 49,615 |
Commissary sales |  | — |  |  | — |  |  | 264,383 |  |  | 18,972 |  |  | — |  |  | 283,355 |
Other revenues |  | — |  |  | — |  |  | — |  |  | 7,241 |  |  | 76,676 |  |  | 83,917 |
Eliminations |  | — |  |  | (1,052) |  |  | (51,817) |  |  | — |  |  | (16,835) |  |  | (69,704) |
Total segment revenues |  | 179,866 |  |  | 36,072 |  |  | 212,566 |  |  | 38,704 |  |  | 59,841 |  |  | 527,049 |
International other revenues (a) |  | — |  |  | — |  |  | — |  |  | (7,241) |  |  | 7,241 |  |  | — |
Total revenues |  | $ | 179,866 |  |  | $ | 36,072 |  |  | $ | 212,566 |  |  | $ | 31,463 |  |  | $ | 67,082 |  |  | $ | 527,049 |
___________________________________ (a) Other revenues as reported in the Condensed Consolidated Statements of Operations include $6.0 million and $7.2 million of revenues for the three months ended March 31, 2024 and March 26, 2023, respectively, that are part of the International reporting segment. These amounts include marketing fund contributions and sublease rental income from international franchisees in the United Kingdom that provide no significant contribution to income before income taxes but must be reported on a gross basis under accounting requirements. The related expenses for these Other revenues are reported in Other expenses in the Condensed Consolidated Statements of Operations.

X
- Definition Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-5 + Details
Name: | us-gaap_DisaggregationOfRevenueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-25 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration