XML 36 R23.htm IDEA: XBRL DOCUMENT v3.25.1
Segment Reporting
 3 Months Ended
Mar. 30, 2025
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
The following is a summary of reportable segments:
REPORTABLE SEGMENTCONCEPTGEOGRAPHIC LOCATION
U.S. (1)Outback SteakhouseUnited States of America
Carrabba’s Italian Grill
Bonefish Grill
Fleming’s Prime Steakhouse & Wine Bar
International FranchiseOutback 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, 2025MARCH 31, 2024
Revenues
U.S.$1,030,903 $1,043,104 
International Franchise9,283 10,112 
Total segment revenues1,040,186 1,053,216 
All other revenues9,408 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, 2025MARCH 31, 2024
U.S.
Total revenues$1,030,903 $1,043,104 
Less:
Food and beverage310,312 311,549 
Labor and other related312,705 311,199 
Other restaurant operating253,609 246,172 
Other (1)66,607 76,700 
Total segment expenses943,233 945,620 
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 expenses943,512 946,043 
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, 2025MARCH 31, 2024
Total segment income from operations$96,674 $107,173 
Unallocated corporate operating expense(39,768)(35,739)
Other income (loss) from operations325 (517)
Total income from operations57,231 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, 2025DECEMBER 29, 2024
Assets
U.S.$2,653,142 $2,735,251 
International Franchise104,480 103,242 
Total segment assets$2,757,622 $2,838,493 
Corporate466,923 306,560 
Other80,825 16,262 
Assets of discontinued operations held for sale— 223,490 
Total assets$3,305,370 $3,384,805