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Acquisitions (Notes)
 3 Months Ended
Mar. 30, 2014
Acquisitions [Abstract]  
Acquisitions
Acquisitions

Acquisition of Controlling Interest in the Company’s Brazilian Operations

Prior to November 1, 2013, the Company held a 50% ownership interest in PGS Consultoria e Serviços Ltda. (the “Brazilian Joint Venture”) through a joint venture arrangement with PGS Participações Ltda, which operated Outback Steakhouse restaurants in Brazil. Effective November 1, 2013, the Company completed the acquisition of a controlling interest in the Brazilian Joint Venture resulting in the consolidation of this entity.

Prior to the acquisition, the Company accounted for the Brazilian Joint Venture under the equity method of accounting. The Company’s share of earnings of $2.9 million for the three months ended March 31, 2013 was recorded in Income from operations of unconsolidated affiliates in the Company’s Consolidated Statement of Operations and Comprehensive Income. The Brazilian Joint Venture’s results of operations for the thirteen weeks ended March 30, 2014 are reflected in the respective line items in the Company’s Consolidated Statement of Operations and Comprehensive Income.

Acquisition of Limited Partnership Interests

Effective January 1, 2014, the Company purchased the remaining partnership interests in certain of the Company’s limited partnerships that either owned or had a contractual right to varying percentages of cash flows in 37 Bonefish Grill restaurants for an aggregate purchase price of $17.2 million. These transactions resulted in a reduction of approximately $12.3 million in Additional paid-in capital in the Company’s Consolidated Balance Sheet at March 30, 2014.

The following table sets forth the effect of these transactions on stockholders’ equity attributable to Bloomin’ Brands (in thousands):

 
NET INCOME ATTRIBUTABLE TO BLOOMIN’ BRANDS AND TRANSFERS TO NONCONTROLLING INTERESTS
 
 
THIRTEEN
WEEKS ENDED
MARCH 30, 2014
 
THREE
MONTHS ENDED
MARCH 31, 2013
Net income attributable to Bloomin’ Brands
$
53,733

 
$
63,223

Transfers to noncontrolling interests:
 
 
 
Net decrease in Bloomin’ Brands additional paid-in capital for purchase of limited
 
 
 
partnership interests
(12,250
)
 
—

Change from net income attributable to Bloomin’ Brands and transfers to noncontrolling
$
41,483

 
$
63,223

interests
 


Acquisition of Franchised Restaurants

Effective March 1, 2014, the Company acquired two Bonefish Gill restaurants from a franchisee for a purchase price of approximately $3.2 million, including customary escrow amounts. The Consolidated Statement of Operations and Comprehensive Income includes the results of operations for these restaurants from the date of acquisition. The pro forma impact of the acquisition on prior periods is not presented as the impact was not material to reported results.

The Company allocated the purchase price to the assets acquired less the liabilities assumed based on their estimated fair value on the date of acquisition with the remaining $2.5 million of the purchase price allocated to goodwill. All goodwill recognized is expected to be deductible for tax purposes.

The following table presents a rollforward of the carrying amount of goodwill for the thirteen weeks ended March 30, 2014 (in thousands):

Balance at December 31, 2013
 
$
346,253

Additions for purchases of franchised locations
 
2,461

Foreign currency translation adjustments
 
(2,290
)
Balance at March 30, 2014
 
$
346,424