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Revenue Recognition | 9 Months Ended
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Sep. 29, 2024
Revenue Recognition and Deferred Revenue [Abstract] |
Revenue Recognition | Revenue Recognition The following tables include the disaggregation of Restaurant sales and franchise revenues by restaurant concept and major international market for the periods indicated:
| THIRTEEN WEEKS ENDED
| SEPTEMBER 29, 2024 |  | SEPTEMBER 24, 2023
(dollars in thousands) | RESTAURANT SALES |  | FRANCHISE REVENUES |  | RESTAURANT SALES |  | FRANCHISE REVENUES
U.S. |  |  |  |  |  |  |
Outback Steakhouse | $ | 518,152 |  |  | $ | 7,542 |  |  | $ | 526,960 |  |  | $ | 7,517 |
Carrabba’s Italian Grill | 159,840 |  |  | 635 |  |  | 165,742 |  |  | 704 |
Bonefish Grill | 118,941 |  |  | 97 |  |  | 128,425 |  |  | 87 |
Fleming’s Prime Steakhouse & Wine Bar | 78,424 |  |  | — |  |  | 76,919 |  |  | — |
Other | 1,695 |  |  | 30 |  |  | 3,092 |  |  | 16 |
U.S. total | 877,052 |  |  | 8,304 |  |  | 901,138 |  |  | 8,324 |
International |  |  |  |  |  |  |
Outback Steakhouse - Brazil | 127,175 |  |  | — |  |  | 138,187 |  |  | — |
Other (1) | 20,863 |  |  | 3,331 |  |  | 25,088 |  |  | 3,496 |
International total | 148,038 |  |  | 3,331 |  |  | 163,275 |  |  | 3,496 |
Total | $ | 1,025,090 |  |  | $ | 11,635 |  |  | $ | 1,064,413 |  |  | $ | 11,820 |
| THIRTY-NINE WEEKS ENDED
| SEPTEMBER 29, 2024 |  | SEPTEMBER 24, 2023
(dollars in thousands) | RESTAURANT SALES |  | FRANCHISE REVENUES |  | RESTAURANT SALES |  | FRANCHISE REVENUES
U.S. |  |  |  |  |  |  |
Outback Steakhouse | $ | 1,684,669 |  |  | $ | 23,938 |  |  | $ | 1,732,132 |  |  | $ | 24,280 |
Carrabba’s Italian Grill | 518,845 |  |  | 2,123 |  |  | 530,450 |  |  | 2,257 |
Bonefish Grill | 397,723 |  |  | 385 |  |  | 429,572 |  |  | 353 |
Fleming’s Prime Steakhouse & Wine Bar | 262,976 |  |  | — |  |  | 272,543 |  |  | — |
Other | 5,823 |  |  | 86 |  |  | 10,448 |  |  | 41 |
U.S. total | 2,870,036 |  |  | 26,532 |  |  | 2,975,145 |  |  | 26,931 |
International |  |  |  |  |  |  |
Outback Steakhouse - Brazil | 370,369 |  |  | — |  |  | 379,498 |  |  | — |
Other (1) | 67,737 |  |  | 10,029 |  |  | 75,334 |  |  | 10,980 |
International total | 438,106 |  |  | 10,029 |  |  | 454,832 |  |  | 10,980 |
Total | $ | 3,308,142 |  |  | $ | 36,561 |  |  | $ | 3,429,977 |  |  | $ | 37,911 |
________________ (1)Includes Restaurant sales for Company-owned Outback Steakhouse restaurants outside of Brazil and Abbraccio restaurants in Brazil. Franchise revenues primarily include revenues from franchised Outback Steakhouse restaurants. The following table includes a detail of assets and liabilities from contracts with customers included on the Company’s Consolidated Balance Sheets as of the periods indicated:
(dollars in thousands) | SEPTEMBER 29, 2024 |  | DECEMBER 31, 2023 |  |  |  |
Other current assets, net |  |  |  |  |  |  |  |  |
Deferred gift card sales commissions | $ | 11,137 |  |  | $ | 18,081 |  |  |  |  |  |  |
Unearned revenue |  |  |  |  |  |  |  |  |
Deferred gift card revenue | $ | 283,810 |  |  | $ | 374,274 |  |  |  |  |  |  |
Deferred loyalty revenue | 6,633 |  |  | 5,664 |  |  |  |  |  |  |
Deferred franchise fees - current | 491 |  |  | 473 |  |  |  |  |  |  |
Other | 2,563 |  |  | 1,466 |  |  |  |  |  |  |
Total Unearned revenue | $ | 293,497 |  |  | $ | 381,877 |  |  |  |  |  |  |
Other long-term liabilities, net |  |  |  |  |  |  |  |  |
Deferred franchise fees - non-current | $ | 3,939 |  |  | $ | 4,036 |  |  |  |  |  |  |
The following table is a rollforward of deferred gift card sales commissions for the periods indicated:
| THIRTEEN WEEKS ENDED |  | THIRTY-NINE WEEKS ENDED
(dollars in thousands) | SEPTEMBER 29, 2024 |  | SEPTEMBER 24, 2023 |  | SEPTEMBER 29, 2024 |  | SEPTEMBER 24, 2023
Balance, beginning of the period | $ | 12,650 |  |  | $ | 12,694 |  |  | $ | 18,081 |  |  | $ | 17,755 |
Deferred gift card sales commissions amortization | (4,494) |  |  | (4,711) |  |  | (17,155) |  |  | (17,891) |
Deferred gift card sales commissions capitalization | 3,570 |  |  | 3,766 |  |  | 12,426 |  |  | 13,509 |
Other | (589) |  |  | (608) |  |  | (2,215) |  |  | (2,232) |
Balance, end of the period | $ | 11,137 |  |  | $ | 11,141 |  |  | $ | 11,137 |  |  | $ | 11,141 |
The following table is a rollforward of unearned gift card revenue for the periods indicated:
| THIRTEEN WEEKS ENDED |  | THIRTY-NINE WEEKS ENDED
(dollars in thousands) | SEPTEMBER 29, 2024 |  | SEPTEMBER 24, 2023 |  | SEPTEMBER 29, 2024 |  | SEPTEMBER 24, 2023
Balance, beginning of the period | $ | 300,590 |  |  | $ | 304,942 |  |  | $ | 374,274 |  |  | $ | 386,495 |
Gift card sales | 42,541 |  |  | 44,374 |  |  | 148,486 |  |  | 162,717 |
Gift card redemptions | (55,733) |  |  | (60,412) |  |  | (225,057) |  |  | (248,870) |
Gift card breakage | (3,588) |  |  | (3,641) |  |  | (13,893) |  |  | (15,079) |
Balance, end of the period | $ | 283,810 |  |  | $ | 285,263 |  |  | $ | 283,810 |  |  | $ | 285,263 |

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
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