XML 54 R38.htm IDEA: XBRL DOCUMENT
v3.24.1.u1

Fair Value Measurements (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2024
Fair Value Disclosures [Abstract] |
Fair value measurement inputs and valuation techniques | Fair value is categorized into one of the following three levels based on the lowest level of significant input:
Level 1 |  | Unadjusted quoted market prices in active markets for identical assets or liabilities
Level 2 |  | Observable inputs available at measurement date other than quoted prices included in Level 1
Level 3 |  | Unobservable inputs that cannot be corroborated by observable market data
Schedule of assets measured at fair value on a recurring basis | The following table summarizes the Company’s financial assets and liabilities measured at fair value by hierarchy level on a recurring basis as of the periods indicated:
| MARCH 31, 2024 |  |  |  | DECEMBER 31, 2023 |  |
(dollars in thousands) | TOTAL |  | LEVEL 1 |  | LEVEL 2 |  |  |  | TOTAL |  | LEVEL 1 |  | LEVEL 2 |  |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fixed income funds | $ | 22,720 |  |  | $ | 22,720 |  |  | $ | — |  |  |  |  | $ | 12,837 |  |  | $ | 12,837 |  |  | $ | — |  |  |
Money market funds | 16,178 |  |  | 16,178 |  |  | — |  |  |  |  | 11,083 |  |  | 11,083 |  |  | — |  |  |
Restricted cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Money market funds | — |  |  | — |  |  | — |  |  |  |  | 2,854 |  |  | 2,854 |  |  | — |  |  |
Other current assets, net: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivative instruments - interest rate swaps | 1,574 |  |  | — |  |  | 1,574 |  |  |  |  | 320 |  |  | — |  |  | 320 |  |  |
Total asset recurring fair value measurements | $ | 40,472 |  |  | $ | 38,898 |  |  | $ | 1,574 |  |  |  |  | $ | 27,094 |  |  | $ | 26,774 |  |  | $ | 320 |  |  |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accrued and other current liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivative instruments - interest rate swaps | $ | — |  |  | $ | — |  |  | $ | — |  |  |  |  | $ | 253 |  |  | $ | — |  |  | $ | 253 |  |  |
Other long-term liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivative instruments - interest rate swaps | 846 |  |  | — |  |  | 846 |  |  |  |  | 893 |  |  | — |  |  | 893 |  |  |
Total liability recurring fair value measurements | $ | 846 |  |  | $ | — |  |  | $ | 846 |  |  |  |  | $ | 1,146 |  |  | $ | — |  |  | $ | 1,146 |  |  |
Fair value, assets measured on recurring basis, methods and assumptions | Fair value of each class of financial instruments is determined based on the following:
FINANCIAL INSTRUMENT |  | METHODS AND ASSUMPTIONS
Fixed income funds and Money market funds |  | Carrying value approximates fair value because maturities are less than three months.
Derivative instruments |  | The Company’s derivative instruments include interest rate swaps. Fair value measurements are based on the contractual terms of the derivatives and observable market-based inputs. The interest rate swaps are valued using a discounted cash flow analysis on the expected cash flows of each derivative using observable inputs including interest rate curves and credit spreads. The Company also considers its own nonperformance risk and the respective counterparty’s nonperformance risk in the fair value measurements. As of March 31, 2024 and December 31, 2023, the Company determined that the credit valuation adjustments were not significant to the overall valuation of its derivatives.
Schedule of carrying value and fair value of senior secured credit facility and other unsecured debt | The following table includes the carrying value and fair value of the Company’s debt by hierarchy level as of the periods indicated:
| MARCH 31, 2024 |  | DECEMBER 31, 2023
(dollars in thousands) | CARRYING VALUE |  | FAIR VALUE LEVEL 2 |  |  |  | CARRYING VALUE |  | FAIR VALUE LEVEL 2 |  |
Senior secured credit facility - revolving credit facility | $ | 635,000 |  |  | $ | 635,000 |  |  |  |  | $ | 381,000 |  |  | $ | 381,000 |  |  |
2025 Notes | $ | 20,724 |  |  | $ | 53,346 |  |  |  |  | $ | 104,786 |  |  | $ | 265,896 |  |  |
2029 Notes | $ | 300,000 |  |  | $ | 278,517 |  |  |  |  | $ | 300,000 |  |  | $ | 277,809 |  |  |

X
- Definition Tabular disclosure of quantitative information about the inputs used in the fair value measurement of assets and liabilities. This disclosure may include, but is not limited to, the fair value of the asset or liability, valuation technique used to measure fair value, the inputs used to measure fair value, the ranges of the inputs, and the weighted averages of the inputs. + References No definition available. + Details
Name: | blmn_FairValueInputsAssetsAndLiabilitiesQuantitativeInformationTableTextBlock
Namespace Prefix: | blmn_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb) -SubTopic 10 -Topic 820 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
Name: | us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482907/825-10-50-11 + Details
Name: | us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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

X
- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
Name: | us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration