Segment and geographic information (Tables)

12 Months Ended

Dec. 31, 2020

Profit or loss and assets for reportable segment

The following table presents information about profit or loss and assets for each reportable segment:


	For the fiscal years ended December 31,
	2020		2019		2018
Revenues:
Brazil	$	862,748	$	1,385,566	$	1,345,453
Caribbean division	381,090		399,251		483,743
NOLAD	311,887		431,266		406,848
SLAD	428,494		742,994		845,527
Total revenues	$	1,984,219	$	2,959,077	$	3,081,571

Adjusted EBITDA:
Brazil	$	76,155	$	227,844	$	218,391
Caribbean division	28,847		24,955		(8,281)
NOLAD	10,207		39,027		32,313
SLAD	3,272		63,120		73,670
Total reportable segments	118,481		354,946		316,093
Corporate and others (i)	(50,370)		(63,171)		(58,096)
Total adjusted EBITDA	$	68,111	$	291,775	$	257,997


	For the fiscal years ended December 31,
	2020		2019		2018
Adjusted EBITDA reconciliation:

Total Adjusted EBITDA	$	68,111	$	291,775	$	257,997

(Less) Plus items excluded from computation that affect operating (loss) income:
Depreciation and amortization	(126,853)		(123,218)		(105,800)
Gains from sale or insurance recovery of property and equipment	4,210		5,175		4,973
Write-offs of property and equipment	(4,501)		(4,733)		(4,167)
Impairment of long-lived assets	(6,636)		(8,790)		(18,950)
Impairment of goodwill	(1,085)		(273)		(167)

Reorganization and optimization plan expenses	—		—		(11,003)
2008 Long-Term Incentive Plan incremental compensation from modification	—		—		575
Operating (loss) income	(66,754)		159,936		123,458
(Less) Plus:
Net interest expense	(59,068)		(52,079)		(52,868)
(Loss) gain from derivative instruments	(2,297)		439		(565)
Gain from securities	25,676		—		—
Foreign currency exchange results	(31,707)		12,754		14,874
Other non-operating income (expenses), net	2,296		(2,097)		270
Income tax expense	(17,532)		(38,837)		(48,136)
Net income attributable to non-controlling interests	(65)		(220)		(186)
Net (loss) income attributable to Arcos Dorados Holdings Inc.	$	(149,451)	$	79,896	$	36,847


	For the fiscal years ended December 31,
	2020		2019		2018
Depreciation and amortization:
Brazil	$	59,466	$	63,467	$	52,632
Caribbean division	20,742		18,481		22,835
NOLAD	22,200		21,422		20,829
SLAD	20,329		20,713		19,293
Total reportable segments	122,737		124,083		115,589
Corporate and others (i)	5,288		4,894		5,696
Purchase price allocation (ii)	(1,172)		(5,759)		(15,485)
Total depreciation and amortization	$	126,853	$	123,218	$	105,800

Property and equipment expenditures:
Brazil	$	39,127	$	146,322	$	100,926
Caribbean division	9,582		15,934		18,640
NOLAD	9,627		32,662		24,145
SLAD	27,975		70,280		53,300
Others	—		37		30
Total property and equipment expenditures	$	86,311	$	265,235	$	197,041


	As of December 31,
	2020		2019
Total assets:
Brazil	$	1,102,009	$	1,328,984
Caribbean division	420,481		429,170
NOLAD	412,045		458,235
SLAD	372,974		389,976
Total reportable segments	2,307,509		2,606,365
Corporate and others (i)	95,802		67,195
Purchase price allocation (ii)	(109,357)		(115,875)
Total assets	$	2,293,954	$	2,557,685

(i)Primarily relates to corporate general and administrative expenses, corporate supply chain operations in Uruguay, and related assets. Corporate general and administrative expenses consist of corporate office support costs in areas such as facilities, finance, human resources, information technology, legal, marketing, restaurant operations, supply chain and training. As of December 31,2020 and 2019, corporate assets primarily include corporate derivatives, cash and cash equivalents and lease right of use.

(ii)Relates to the purchase price allocation adjustment made at corporate level, which reduces the accounting value of our long-lived assets (excluding Lease right of use) and goodwill and the corresponding depreciation and amortization. As of December 31,2020 and 2019 primarily related with the reduction of goodwill.