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Segment Reporting

9 Months Ended

Sep. 29, 2019

Segment Reporting [Abstract]

Segment Reporting

Segment Reporting

The Company considers its restaurant concepts and international markets as operating segments, which reflects how the Company manages its business, reviews operating performance and allocates resources. Resources are allocated and performance is assessed by the Company’s Chief Executive Officer (“CEO”), whom the Company has determined to be its Chief Operating Decision Maker (“CODM”). The Company aggregates its operating segments into two reportable segments, U.S. and international. The U.S. segment includes all restaurants operating in the U.S. while restaurants operating outside the U.S. are included in the international segment. The following is a summary of reporting segments:

REPORTABLE SEGMENT (1)		CONCEPT		GEOGRAPHIC LOCATION
U.S.		Outback Steakhouse		United States of America
		Carrabba’s Italian Grill
		Bonefish Grill
		Fleming’s Prime Steakhouse & Wine Bar
International		Outback Steakhouse		Brazil, Hong Kong/China
		Carrabba’s Italian Grill (Abbraccio)		Brazil

_________________

(1) Includes franchise locations.

Segment accounting policies are the same as those described in Note 2 - Summary of Significant Accounting Policies in the Company’s Annual Report on Form 10-K for the year ended December 30, 2018. Revenues for all segments include only transactions with customers and exclude intersegment revenues. Excluded from Income from operations for U.S. and international are certain legal and corporate costs not directly related to the performance of the segments, most stock-based compensation expenses and certain bonus expenses.

The following table is a summary of Total revenue by segment, for the periods indicated:

	THIRTEEN WEEKS ENDED								THIRTY-NINE WEEKS ENDED
(dollars in thousands)	SEPTEMBER 29, 2019				SEPTEMBER 30, 2018				SEPTEMBER 29, 2019				SEPTEMBER 30, 2018
Total revenues
U.S.	$	848,444			$	861,493			$	2,777,170			$	2,782,555
International	118,700				103,528				340,035				330,745
Total revenues	$	967,144			$	965,021			$	3,117,205			$	3,113,300

The following table is a reconciliation of Segment income from operations to Income before (benefit) provision for income taxes, for the periods indicated:

	THIRTEEN WEEKS ENDED								THIRTY-NINE WEEKS ENDED
(dollars in thousands)	SEPTEMBER 29, 2019				SEPTEMBER 30, 2018				SEPTEMBER 29, 2019				SEPTEMBER 30, 2018
Segment income from operations
U.S.	$	50,318			$	44,598			$	242,167			$	230,645
International	10,550				7,776				31,179				14,052
Total segment income from operations	60,868				52,374				273,346				244,697
Unallocated corporate operating expense	(38,910		)		(39,837		)		(125,434		)		(120,865		)
Total income from operations	21,958				12,537				147,912				123,832
Other income (expense), net	11				(1		)		(145		)		(6		)
Interest expense, net	(13,256		)		(11,600		)		(36,885		)		(33,229		)
Income before (benefit) provision for income taxes	$	8,713			$	936			$	110,882			$	90,597

The following table is a summary of Depreciation and amortization expense by segment for the periods indicated:

	THIRTEEN WEEKS ENDED								THIRTY-NINE WEEKS ENDED
(dollars in thousands)	SEPTEMBER 29, 2019				SEPTEMBER 30, 2018				SEPTEMBER 29, 2019				SEPTEMBER 30, 2018
Depreciation and amortization
U.S.	$	36,670			$	39,796			$	114,372			$	119,063
International	7,201				6,420				20,406				19,866
Corporate	4,055				4,355				12,418				12,544
Total depreciation and amortization	$	47,926			$	50,571			$	147,196			$	151,473

Geographic Areas — International assets are defined as assets residing in a country other than the U.S. The following table details long-lived assets, excluding operating lease right-of-use assets, goodwill, intangible assets and deferred tax assets, by major geographic area as of the periods indicated:

(dollars in thousands)	SEPTEMBER 29, 2019				DECEMBER 30, 2018
U.S.	$	1,032,857			$	1,107,679
International
Brazil	117,311				115,560
Other	15,036				13,663
Total assets	$	1,165,204			$	1,236,902

International revenues are defined as revenues generated from restaurant sales originating in a country other than the U.S. The following table details Total revenues by major geographic area, for the periods indicated:

	THIRTEEN WEEKS ENDED								THIRTY-NINE WEEKS ENDED
(dollars in thousands)	SEPTEMBER 29, 2019				SEPTEMBER 30, 2018				SEPTEMBER 29, 2019				SEPTEMBER 30, 2018
U.S.	$	848,444			$	861,493			$	2,777,170			$	2,782,555
International
Brazil	106,151				88,178				298,935				284,376
Other	12,549				15,350				41,100				46,369
Total revenue	$	967,144			$	965,021			$	3,117,205			$	3,113,300

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- References

No definition available.

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- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

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