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v3.25.1

Segment Reporting | 3 Months Ended
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Mar. 30, 2025
Segment Reporting [Abstract] |
Segment Reporting | Segment Reporting The following is a summary of reportable segments:
REPORTABLE SEGMENT |  | CONCEPT |  | GEOGRAPHIC LOCATION
U.S. (1) |  | Outback Steakhouse |  | United States of America
| Carrabba’s Italian Grill |
| Bonefish Grill |
| Fleming’s Prime Steakhouse & Wine Bar |
International Franchise |  | Outback Steakhouse |  | 12 Franchise Markets
| Carrabba’s Italian Grill (Abbraccio) |
_________________ (1)Includes franchise locations. Segment accounting policies are the same as those described in Note 2 - Summary of Significant Accounting Policies in the Company’s Annual Report on Form 10-K for the year ended December 29, 2024. Revenues for all segments include only transactions with customers and exclude intersegment revenues. There were no material transactions among reportable segments. Excluded from Income from operations for U.S. are certain legal and corporate costs not directly related to the performance of the segment, most stock-based compensation expenses, a portion of insurance expenses and certain bonus expenses. The below segment disclosures have been recast to include amounts that relate solely to the Company’s continuing operations. In the tables below, “other” includes amounts related to the Company’s equity method investment in Brazil and its Hong Kong subsidiary. The following table is a summary of revenues by segment for the periods indicated:
| THIRTEEN WEEKS ENDED |  |
(dollars in thousands) | MARCH 30, 2025 |  | MARCH 31, 2024 |  |
Revenues |  |  |  |  |
U.S. | $ | 1,030,903 |  |  | $ | 1,043,104 |  |  |
International Franchise | 9,283 |  |  | 10,112 |  |  |
Total segment revenues | 1,040,186 |  |  | 1,053,216 |  |  |
All other revenues | 9,408 |  |  | 15,857 |  |  |
Total revenues | $ | 1,049,594 |  |  | $ | 1,069,073 |  |  |
The following table presents segment operating income and significant segment expense information for the periods indicated:
| THIRTEEN WEEKS ENDED |  |
(dollars in thousands) | MARCH 30, 2025 |  | MARCH 31, 2024 |  |
U.S. |  |  |  |  |
Total revenues | $ | 1,030,903 |  |  | $ | 1,043,104 |  |  |
Less: |  |  |  |  |
Food and beverage | 310,312 |  |  | 311,549 |  |  |
Labor and other related | 312,705 |  |  | 311,199 |  |  |
Other restaurant operating | 253,609 |  |  | 246,172 |  |  |
Other (1) | 66,607 |  |  | 76,700 |  |  |
Total segment expenses | 943,233 |  |  | 945,620 |  |  |
Income from operations | $ | 87,670 |  |  | $ | 97,484 |  |  |
International Franchise |  |  |  |  |
Total revenues | $ | 9,283 |  |  | $ | 10,112 |  |  |
Less: |  |  |  |  |
Total segment expenses (2) | 279 |  |  | 423 |  |  |
Income from operations | $ | 9,004 |  |  | $ | 9,689 |  |  |
Total segment |  |  |  |  |
Total revenues | $ | 1,040,186 |  |  | $ | 1,053,216 |  |  |
Less: |  |  |  |  |
Total segment expenses | 943,512 |  |  | 946,043 |  |  |
Total segment income from operations | $ | 96,674 |  |  | $ | 107,173 |  |  |
_________________ (1)Includes depreciation and amortization, general and administrative and impairment expense. (2)Includes general and administrative expense. The following table is a reconciliation of segment income from operations to Income (loss) before provision for income taxes for the periods indicated:
| THIRTEEN WEEKS ENDED |  |
(dollars in thousands) | MARCH 30, 2025 |  | MARCH 31, 2024 |  |
Total segment income from operations | $ | 96,674 |  |  | $ | 107,173 |  |  |
Unallocated corporate operating expense | (39,768) |  |  | (35,739) |  |  |
Other income (loss) from operations | 325 |  |  | (517) |  |  |
Total income from operations | 57,231 |  |  | 70,917 |  |  |
Loss on extinguishment of debt | — |  |  | (135,797) |  |  |
Interest expense, net | (11,187) |  |  | (13,676) |  |  |
Income (loss) before provision for income taxes | $ | 46,044 |  |  | $ | (78,556) |  |  |
The following table sets forth Total assets by segment as of the periods indicated:
(dollars in thousands) | MARCH 30, 2025 |  | DECEMBER 29, 2024 |
Assets |  |  |  |
U.S. | $ | 2,653,142 |  |  | $ | 2,735,251 |  |
International Franchise | 104,480 |  |  | 103,242 |  |
Total segment assets | $ | 2,757,622 |  |  | $ | 2,838,493 |  |
Corporate | 466,923 |  |  | 306,560 |  |
Other | 80,825 |  |  | 16,262 |  |
Assets of discontinued operations held for sale | — |  |  | 223,490 |  |
Total assets | $ | 3,305,370 |  |  | $ | 3,384,805 |  |

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- Definition The entire disclosure for reporting segments including data and tables. 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