XML 45 R23.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Stockholders' Equity | 12 Months Ended
--- | ---
Dec. 31, 2023
Stockholders' Equity Note [Abstract] |
Stockholders' Equity | Stockholders’ Equity Share Repurchases - On February 7, 2023, the Company’s Board of Directors (the “Board”) approved a share repurchase program (the “2023 Share Repurchase Program”) under which the Company is authorized to repurchase up to $125.0 million of its outstanding common stock. The 2023 Share Repurchase Program will expire on August 7, 2024. As of December 31, 2023, $70.0 million remained available for repurchase under the 2023 Share Repurchase Program. Following is a summary of the shares repurchased during fiscal year 2023:
(in thousands, except per share data) | NUMBER OF SHARES |  | AVERAGE REPURCHASE PRICE PER SHARE |  | AMOUNT
First fiscal quarter | 863 |  |  |  |  |  |  | $ | 23.92 |  |  |  |  |  |  | $ | 20,645 |  |  |  |  |
Second fiscal quarter | 619 |  |  |  |  |  |  | $ | 25.11 |  |  |  |  |  |  | 15,539 |  |  |  |  |
Third fiscal quarter | 590 |  |  |  |  |  |  | $ | 27.03 |  |  |  |  |  |  | 15,956 |  |  |  |  |
Fourth fiscal quarter | 735 |  |  |  |  |  |  | $ | 24.29 |  |  |  |  |  |  | 17,860 |  |  |  |  |
Total common stock repurchases (1) | 2,807 |  |  |  |  |  |  | $ | 24.93 |  |  |  |  |  |  | $ | 70,000 |  |  |  |  |
________________ (1)Excludes $0.1 million of excise tax on share repurchases. Subsequent to December 31, 2023, the Company repurchased 473 thousand shares of its common stock for $12.5 million under the 2023 Share Repurchase Program under a Rule 10b5-1 plan. In February 2024, the Company’s Board canceled the remaining $57.5 million of authorization under the 2023 Share Repurchase Program and approved a new $350.0 million authorization (the “2024 Share Repurchase Program”). The 2024 Share Repurchase Program includes capacity above the Company’s normal repurchase activity to provide flexibility in retiring the 2025 Notes at or prior to their May 2025 maturity. The 2024 Share Repurchase Program will expire on August 13, 2025. Dividends - The Company declared and paid dividends per share during the periods presented as follows:
| DIVIDENDS PER SHARE |  | AMOUNT
| FISCAL YEAR |  | FISCAL YEAR
(dollars in thousands, except per share data) | 2023 |  |  |  | 2022 |  | 2023 |  |  |  | 2022
First fiscal quarter | $ | 0.24 |  |  |  |  | $ | 0.14 |  |  | $ | 21,014 |  |  |  |  | $ | 12,559 |
Second fiscal quarter | 0.24 |  |  |  |  | 0.14 |  |  | 20,990 |  |  |  |  | 12,418 |
Third fiscal quarter | 0.24 |  |  |  |  | 0.14 |  |  | 20,901 |  |  |  |  | 12,475 |
Fourth fiscal quarter | 0.24 |  |  |  |  | 0.14 |  |  | 20,837 |  |  |  |  | 12,284 |
Total cash dividends declared and paid | $ | 0.96 |  |  |  |  | $ | 0.56 |  |  | $ | 83,742 |  |  |  |  | $ | 49,736 |
In February 2024, the Board declared a quarterly cash dividend of $0.24 per share, payable on March 20, 2024 to shareholders of record at the close of business on March 6, 2024. Accumulated Other Comprehensive Loss (“AOCL”) - Following are the components of AOCL as of the periods indicated:
(dollars in thousands) | DECEMBER 31, 2023 |  | DECEMBER 25, 2022
Foreign currency translation adjustment | $ | (177,689) |  |  | $ | (185,311) |
Unrealized loss on derivatives, net of tax | (615) |  |  | — |
Accumulated other comprehensive loss | $ | (178,304) |  |  | $ | (185,311) |
Following are the components of Other comprehensive income attributable to Bloomin’ Brands for the periods indicated:
| FISCAL YEAR
(dollars in thousands) | 2023 |  | 2022 |  | 2021
Foreign currency translation adjustment | $ | 7,622 |  |  | $ | 10,169 |  |  | $ | (6,597) |
Change in fair value of derivatives, net of tax | (606) |  |  | 573 |  |  | 86 |
Reclassification realized in Net income, net of tax (1) | (9) |  |  | 954 |  |  | 7,392 |
Impact of terminated interest rate swaps included in Net income, net of tax (1) | — |  |  | 8,982 |  |  | 4,576 |
(Loss) gain on derivatives, net of tax | (615) |  |  | 10,509 |  |  | 12,054 |
Other comprehensive income attributable to Bloomin’ Brands | $ | 7,007 |  |  | $ | 20,678 |  |  | $ | 5,457 |
________________ (1)See Note 16 - Derivative Instruments and Hedging Activities for the tax impact of reclassifications and the terminated swaps.

X
- References No definition available. + Details
Name: | us-gaap_StockholdersEquityNoteAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for equity. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-13 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (h) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-13 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 14 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-14 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 235 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481062/946-235-50-2 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 235 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481062/946-235-50-2 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481004/946-505-50-6 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480237/815-40-50-6 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480008/505-10-S99-1 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(e)(1)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//505/tableOfContent Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-13 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (g) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-13 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-13 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 14 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-14 Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 14 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-14 Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 16 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-16 Reference 17: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 18 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-18 Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 18 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-18 Reference 19: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 18 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-18 + Details
Name: | us-gaap_StockholdersEquityNoteDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration