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Revenue Recognition (Tables)

9 Months Ended

Sep. 29, 2024

Revenue Recognition and Deferred Revenue [Abstract]

Disaggregation of revenue

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.

Contract with customers, asset and liability

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

X

- Definition

Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-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

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X

- Definition

Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-5

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- References

No definition available.

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