XML 64 R2.htm IDEA: XBRL DOCUMENT v3.20.1
Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
REVENUES      
Revenues $ 2,959,077 $ 3,081,571 $ 3,319,525
Company-operated restaurant expenses:      
Food and paper (1,007,584) (1,030,499) (1,110,240)
Payroll and employee benefits (567,653) (607,793) (683,954)
Occupancy and other operating expenses (799,633) (803,539) (842,519)
Royalty fees (155,388) (157,886) (163,954)
General and administrative expenses (212,515) (229,324) (244,664)
Other operating income (expenses), net 4,910 (61,145) 68,577
Total operating costs and expenses (2,799,141) (2,958,113) (3,046,590)
Operating income 159,936 123,458 272,935
Net interest expense (52,079) (52,868) (68,357)
Gain (loss) from derivative instruments 439 (565) (7,065)
Foreign currency exchange results 12,754 14,874 (14,265)
Other non-operating (expenses) income, net (2,097) 270 (435)
Income before income taxes 118,953 85,169 182,813
Income tax expense (38,837) (48,136) (53,314)
Net income 80,116 37,033 129,499
Less: Net income attributable to non-controlling interests (220) (186) (333)
Net income attributable to Arcos Dorados Holdings Inc. $ 79,896 $ 36,847 $ 129,166
Earnings per share information:      
Basic net income per common share attributable to Arcos Dorados Holdings Inc. (in dollars per share) $ 0.39 $ 0.18 $ 0.61
Diluted net income per common share attributable to Arcos Dorados Holdings Inc. (in dollars per share) $ 0.39 $ 0.18 $ 0.61
Sales by Company-operated restaurants      
REVENUES      
Revenues $ 2,812,287 $ 2,932,609 $ 3,162,256
Revenues from franchised restaurants      
REVENUES      
Revenues 146,790 148,962 157,269
Company-operated restaurant expenses:      
Franchised restaurants – occupancy expenses $ (61,278) $ (67,927) $ (69,836)