XML 26 R15.htm IDEA: XBRL DOCUMENT v3.25.0.1
BUSINESS SEGMENTS
 3 Months Ended
Dec. 28, 2024
Business Segments [Abstract]  
BUSINESS SEGMENTS

(8) BUSINESS SEGMENTS:

We operate in two reportable segments – package stores and restaurants. The operation of package stores consists of retail liquor sales and related items. The operation of restaurants consists of restaurant food and bar sales. Operating income is total revenue less cost of merchandise sold and operating expenses relative to each segment. In order to evaluate each of these two operating segments we also break out our Corporate entity which functions as a cost center accumulating expenses that do not directly relate to the reportable segments operations. As such, our Chief Operating Decision Maker (CODM) (our Chief Financial Officer) ensures that these expenses are separated in order to properly evaluate the two main reportable segments as presented below. We have disclosed for each reportable segment the significant expense categories that are reviewed by CODM in the tables below and there are no additional significant expenses within the expense categories presented. The key areas of focus by CODM for allocation of resources are revenues from each reportable segment, as well as their cost of merchandise sold, payroll related costs, and operating expenses (these figures are presented both pre-elimination and post-elimination with a line clearly distinguishing the elimination amounts). While CODM analyzes these categories, the area of focus is period over period fluxes to determine that the right allocation of resources is attributed to each segment in order to ensure profitability is maximized. Gross profit is not shown on the Consolidated Statements of Income but is a metric that CODM uses to assess segment performance and as such is included in the tables below. In computing operating income, none of the following items have been included: interest expense, other non-operating income and expenses and income taxes. Identifiable assets by segment are those assets that are used in our operations in each segment. Corporate assets are principally cash and real property, improvements, furniture, equipment and vehicles used at our corporate headquarters. We do not have any operations outside of the United States and transactions between restaurants and package liquor stores are not material. The accounting policies of the segments are the same as those described in the summary of significant accounting policies. CODM analyzes each segment’s income from operations for making decisions regarding resource allocation. Information concerning the revenues and operating income for the quarters ended December 28, 2024 and December 30, 2023, and identifiable assets for the two reportable segments in which we operate, are shown in the following tables.

 

   Restaurant   Package   Corporate   Eliminations   Total 
REVENUES:                         
Restaurant food sales  $29,126   $
—
   $
—
   $
—
   $29,126 
Intersegment revenues   1,012    
—
    
—
    (1,012)   
—
 
Restaurant bar sales   7,962    
—
    
—
    
—
    7,962 
Package goods sales   
—
    12,435    
—
    
—
    12,435 
TOTAL REVENUE:   38,100    12,435    
—
    (1,012)   49,523 
COST OF MERCHANDISE SOLD:                         
Cost of merchandise sold:   13,029    9,481    
—
    
—
    22,510 
Intersegment cost of merchandise sold   1,012    
—
    
—
    (1,012)   
—
 
TOTAL COST OF MERCHANDISE SOLD:   14,041    9,481    
—
    (1,012)   22,510 
GROSS PROFIT:   24,059    2,954    
—
    
—
    27,013 
                          
ADDITIONAL REVENUES:                         
Franchise-related revenues   
—
    
—
    431    
—
    431 
Intersegment franchise-related revenues   
—
    
—
    1,441    (1,441)   
—
 
Rental income   
—
    
—
    267    
—
    267 
Intersegment rental income   
—
    
—
    214    (214)   
—
 
Intersegment partnership income   
—
    
—
    249    (249)   
—
 
Other revenues   32    
—
    9    
—
    41 
TOTAL ADDITIONAL REVENUES:   32    
—
    2,611    (1,904)   739 
                          
ADDITIONAL EXPENSES:                         
Payroll and related costs   13,122    902    1,722    
—
    15,746 
Operating expenses   5,387    721    446    
—
    6,554 
Intersegment operating expenses   614    
—
    755    (1,369)   
—
 
Occupancy costs   1,593    214    147    
—
    1,954 
Intersegment occupancy costs   166    48    
—
    (214)   
—
 
Selling, general and administrative expenses   484    36    974    
—
    1,494 
Intersegment selling, general and administrative expenses   
—
    
—
    72    (72)   
—
 
Depreciation and amortization   880    125    141    
—
    1,146 
                          
TOTAL ADDITIONAL EXPENSES:   22,246    2,046    4,257    (1,655)   26,894 
                          
Income from Operations   1,845    908    (1,646)   (249)   858 
                          
OTHER INCOME (EXPENSE):                         
Interest expense   
—
    
—
    (250)   
—
    (250)
Intersegment interest expense   
—
    
—
    (2)   2    
—
 
Interest and other income   4    16    39    
—
    59 
Intersegment interest and other income   
—
    
—
    2    (2)   
—
 
Gain on sale of property and equipment   
—
    
—
    
—
    
—
    
—
 
    4    16    (211)   
—
    (191)
                          
Income (loss) before provision for income taxes:   1,849    924    (1,857)   (249)   667 
                          
Provision for income taxes   
—
    
—
    (35)   
—
    (35)
                          
Net Income   1,849    924    (1,892)   (249)   632 
                          
Less: Net Income attributable to noncontrolling interests   (577)   
—
    
—
    
—
    (577)
                          
Net Income Attributable to Flanigan's Enterprises, Inc.  $1,272   $924   $(1,892)  $(249)  $55 
   Restaurant   Package   Corporate   Eliminations   Total 
REVENUES:                         
Restaurant food sales  $26,355   $
—
   $
—
   $
—
   $26,355 
Intersegment revenues   957    
—
    
—
    (957)   
—
 
Restaurant bar sales   7,463    
—
    
—
    
—
    7,463 
Package goods sales   
—
    10,602    
—
    
—
    10,602 
TOTAL REVENUE:   34,775    10,602    
—
    (957)   44,420 
COST OF MERCHANDISE SOLD:                         
Cost of merchandise sold:   11,831    7,880    
—
    
—
    19,711 
Intersegment cost of merchandise sold   957    
—
    
—
    (957)   
—
 
TOTAL COST OF MERCHANDISE SOLD:   12,788    7,880    
—
    (957)   19,711 
GROSS PROFIT:   21,987    2,722    
—
    
—
    24,709 
                          
ADDITIONAL REVENUES:                         
Franchise-related revenues   
—
    
—
    418    
—
    418 
Intersegment franchise-related revenues   
—
    
—
    1,559    (1,559)   
—
 
Rental income   
—
    
—
    253    
—
    253 
Intersegment rental income   
—
    
—
    208    (208)   
—
 
Intersegment partnership income   
—
    
—
    232    (232)   
—
 
Other revenues   41    
—
    8    
—
    49 
TOTAL ADDITIONAL REVENUES:   41    
—
    2,678    (1,999)   720 
                          
ADDITIONAL EXPENSES:                         
Payroll and related costs   11,932    843    1,610    
—
    14,385 
Intersegment payroll costs   
—
    (6)   
—
    6    
—
 
Operating expenses   4,885    630    398    
—
    5,913 
Intersegment operating expenses   603    
—
    895    (1,498)   
—
 
Occupancy costs   1,727    280    157    
—
    2,164 
Intersegment occupancy costs   165    43    
—
    (208)   
—
 
Selling, general and administrative expenses   208    50    935    
—
    1,193 
Intersegment selling, general and administrative expenses   
—
    
—
    72    (72)   
—
 
Depreciation and amortization   723    127    131    
—
    981 
                          
TOTAL ADDITIONAL EXPENSES:   20,243    1,967    4,198    (1,772)   24,636 
                          
Income from Operations   1,785    755    (1,520)   (227)   793 
                          
OTHER INCOME (EXPENSE):                         
Interest expense   
—
    
—
    (262)   
—
    (262)
Intersegment interest expense   
—
    
—
    (2)   2    
—
 
Interest and other income   9    18    18    
—
    45 
Intersegment interest and other income   
—
    5    2    (7)   
—
 
    9    23    (244)   (5)   (217)
                          
Income (loss) before provision for income taxes:   1,794    778    (1,764)   (232)   576 
                          
Benefit for income taxes   
—
    
—
    18    
—
    18 
                          
Net Income   1,794    778    (1,746)   (232)   594 
                          
Less: Net Income attributable to noncontrolling interests   (485)   
—
    
—
    
—
    (485)
                          
Net Income Attributable to Flanigan's Enterprises, Inc.  $1,309   $778   $(1,746)  $(232)  $109 
   (in thousands) 
   Thirteen Weeks Ended 
   December 28,   December 30, 
   2024   2023 
Capital Expenditures:          
Restaurants  $519   $1,144 
Package stores   122    47 
Corporate   104    187 
Consolidated Totals  $745   $1,378 

 

   (in thousands) 
   December 28,   September 28, 
   2024   2024 
Identifiable Assets:          
Restaurants  $75,840   $77,613 
Package stores   23,435    23,084 
Corporate   47,601    41,385 
Consolidated Totals  $146,876   $142,082