XML 31 R3.htm IDEA: XBRL DOCUMENT v3.23.1
Consolidated Statements of Income (Loss) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
REVENUES      
Revenues $ 3,618,902 $ 2,659,941 $ 1,984,219
Company-operated restaurant expenses:      
Food and paper (1,227,293) (899,077) (677,087)
Payroll and employee benefits (668,764) (482,608) (413,074)
Occupancy and other operating expenses         (967,690) (772,169) (624,154)
Royalty fees (194,522) (131,401) (110,957)
Franchised restaurants – occupancy expenses          (68,028) (50,627) (43,512)
General and administrative expenses (239,263) (210,909) (171,382)
Other operating income (expenses), net 11,080 26,369 (10,807)
Total operating costs and expenses (3,354,480) (2,520,422) (2,050,973)
Operating income (loss) 264,422 139,519 (66,754)
Net interest expense and other financing results (43,750) (49,546) (33,392)
Loss from derivative instruments (10,490) (5,183) (2,297)
Foreign currency exchange results 16,501 (9,189) (31,707)
Other non-operating (expenses) income, net  (287) 2,185 2,296
Income (loss) before income taxes  226,396 77,786 (131,854)
Income tax expense (85,476) (31,933) (17,532)
Net income (loss) 140,920 45,853 (149,386)
Less: Net income attributable to non-controlling interests (577) (367) (65)
Net income (loss) attributable to Arcos Dorados Holdings Inc. $ 140,343 $ 45,486 $ (149,451)
Eearnings per share information:      
Basic net income (loss) per common share attributable to Arcos Dorados Holdings Inc. (in dollars per share) $ 0.67 $ 0.22 $ (0.72)
Diluted net income (loss) per common share attributable to Arcos Dorados Holdings Inc. (in dollars per share) $ 0.67 $ 0.22 $ (0.72)
Sales by Company-operated restaurants      
REVENUES      
Revenues $ 3,457,491 $ 2,543,907 $ 1,894,618
Revenues from franchised restaurants      
REVENUES      
Revenues $ 161,411 $ 116,034 $ 89,601