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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 24, 2023
Sep. 25, 2022
Sep. 24, 2023
Sep. 25, 2022
Revenues        
Restaurant sales, franchise and other revenues $ 1,079,833 $ 1,055,763 $ 3,477,273 $ 3,321,460
Costs and expenses        
Food and beverage 321,865 332,939 1,057,305 1,056,768
Labor and other related 314,432 303,244 981,908 924,514
Other restaurant operating 281,084 267,944 837,349 790,583
Depreciation and amortization 47,998 42,171 141,865 125,203
General and administrative 62,246 56,089 191,408 174,009
Provision for impaired assets and restaurant closings (6,008) 2,067 (857) 4,099
Total costs and expenses 1,021,617 1,004,454 3,208,978 3,075,176
Income from operations 58,216 51,309 268,295 246,284
Loss on extinguishment and modification of debt 0 0 0 (107,630)
Loss on fair value adjustment of derivatives, net 0 0 0 (17,685)
Interest expense, net (12,843) (12,696) (38,248) (38,877)
Income before (benefit) provision for income taxes 45,373 38,613 230,047 82,092
(Benefit) provision for income taxes (58) 5,563 21,186 33,028
Net income 45,431 33,050 208,861 49,064
Less: net income attributable to noncontrolling interests 903 1,064 4,745 5,202
Net income attributable to Bloomin’ Brands 44,528 31,986 204,116 43,862
Other comprehensive income:        
Foreign currency translation adjustment 3,103 (13,041) 6,471 10,182
Unrealized gain on derivatives, net of tax 0 0 0 573
Reclassification of adjustments for loss on derivatives included in Net income, net of tax 0 0 0 954
Impact of terminated interest rate swaps included in Net income, net of tax 0 2,255 0 7,440
Comprehensive income 48,534 22,264 215,332 68,213
Less: comprehensive income attributable to noncontrolling interests 903 1,064 4,745 5,202
Comprehensive income attributable to Bloomin’ Brands $ 47,631 $ 21,200 $ 210,587 $ 63,011
Earnings per share:        
Basic (in USD per share) $ 0.50 $ 0.36 $ 2.30 $ 0.49
Diluted (in USD per share) $ 0.45 $ 0.34 $ 2.08 $ 0.44
Weighted average common shares outstanding:        
Basic (in shares) 88,707 89,192 88,794 89,149
Diluted (in shares) 98,548 94,736 97,987 99,609
Restaurant sales        
Revenues        
Restaurant sales, franchise and other revenues $ 1,064,413 $ 1,040,375 $ 3,429,977 $ 3,272,868
Franchise and other revenues        
Revenues        
Restaurant sales, franchise and other revenues $ 15,420 $ 15,388 $ 47,296 $ 48,592