BUSINESS SEGMENTS

9 Months Ended

Jul. 01, 2023

Segment Reporting [Abstract]

BUSINESS SEGMENTS

(10) 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 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. Information concerning the revenues and operating income for the thirteen weeks and thirty-nine weeks ended July 1, 2023 and July 2, 2022, and identifiable assets for the two reportable segments in which we operate, are shown in the following tables.

	(in thousands)
	Thirteen Weeks Ending			Thirteen Weeks Ending
	July 1, 2023			July 2, 2022
Operating Revenues:
Restaurants	$	35,813		$	32,329
Package stores		8,791			7,626
Other revenues		768			720
Total operating revenues	$	45,372		$	40,675
Income from Operations Reconciled to Income After Income Taxes and Net Income Attributable to Noncontrolling Interests
Restaurants	$	2,835		$	1,953
Package stores		783			705
		3,618			2,658
Corporate expenses, net of other revenues		(918	)		(575	)
Income from Operations		2,700			2,083
Interest expense		(264	)		(177	)
Interest and Other income		26			80
Income Before Provision for Income Taxes	$	2,462		$	1,986
Provision for Income Taxes		(51	)		(22	)
Net Income		2,411			1,964
Net Income Attributable to Noncontrolling Interests		(806	)		(129	)
Net Income Attributable to Flanigan’s Enterprises, Inc.	$	1,605		$	1,835
Stockholders
Depreciation and Amortization:
Restaurants	$	690		$	607
Package stores		129			79
		819			686
Corporate		115			102
Total Depreciation and Amortization	$	934		$	788
Capital Expenditures:
Restaurants	$	2,511		$	1,542
Package stores		3,299			450
		5,810			1,992
Corporate		8,638			210
Total Capital Expenditures	$	14,448		$	2,202

	Thirty-Nine Weeks Ending July 1, 2023			Thirty-Nine Weeks Ending July 2, 2022
Operating Revenues:
Restaurants	$	101,962		$	91,985
Package stores		26,853			24,285
Other revenues		2,221			2,138
Total operating revenues	$	131,036		$	118,408
Income from Operations Reconciled to Income After Income Taxes and Net Income Attributable to Noncontrolling Interests
Restaurants	$	6,615		$	4,005
Package stores		2,223			2,147
		8,838			6,152
Corporate expenses, net of other revenues		(2,230	)		(1,454	)
Income from Operations		6,608			4,698
Interest expense		(801	)		(547	)
Interest and Other income		60			117
Gain on forgiveness of PPP Loans		-			3,488
Gain on sale of property and equipment		-			11
Income Before Provision for Income Taxes	$	5,867		$	7,767
Provision for Income Taxes		(404	)		(522	)
Net Income		5,463			7,245
Net Income Attributable to Noncontrolling Interests		(1,337	)		(2,186	)
Net Income Attributable to Flanigan’s Enterprises, Inc. Stockholders	$	4,126		$	5,059
Depreciation and Amortization:
Restaurants	$	1,947		$	1,670
Package stores		338			237
		2,285			1,907
Corporate		328			302
Total Depreciation and Amortization	$	2,613		$	2,209
Capital Expenditures:
Restaurants	$	5,757		$	4,466
Package stores		3,761			1,845
		9,518			6,311
Corporate		9,172			686
Total Capital Expenditures	$	18,690		$	6,997

	(in thousands)
	July 1,		October 1,
	2023		2022
Identifiable Assets:
Restaurants	$	75,874	$	73,596
Package store		23,922		20,035
		99,796		93,631
Corporate		46,605		53,861
Consolidated Totals	$	146,401	$	147,492