XML 48 R33.htm IDEA: XBRL DOCUMENT v3.24.0.1
Segment Information (Tables)
 12 Months Ended
Dec. 31, 2023
Segment Reporting [Abstract]  
Financial Information by Operating Segment

The tables below summarize the financial information concerning the Company’s reportable segments for fiscal 2023, 2022 and 2021. Intersegment revenues are comprised of sales of food, equipment and supplies from the supply chain segment to the Company-owned stores in the U.S. stores segment. Intersegment sales prices are market based. The “Other” column as it relates to Segment Income below primarily includes corporate administrative costs that are not allocable to a reportable segment, including labor, computer expenses, professional fees, travel and entertainment, rent, insurance and other corporate administrative costs.

 

 

 

U.S.
Stores

 

 

Supply
Chain

 

 

International
Franchise

 

 

Intersegment
Revenues

 

 

Other

 

 

Total

 

Revenues

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2023

 

$

1,454,272

 

 

$

2,829,224

 

 

$

310,077

 

 

$

(114,215

)

 

$

—

 

 

$

4,479,358

 

2022

 

 

1,487,409

 

 

 

2,898,069

 

 

 

295,007

 

 

 

(143,327

)

 

 

—

 

 

 

4,537,158

 

2021

 

 

1,498,360

 

 

 

2,699,863

 

 

 

298,036

 

 

 

(138,886

)

 

 

—

 

 

 

4,357,373

 

Segment Income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2023

 

$

520,977

 

 

$

245,430

 

 

$

259,608

 

 

N/A

 

 

$

(86,894

)

 

$

939,121

 

2022

 

 

438,604

 

 

 

208,799

 

 

 

236,144

 

 

N/A

 

 

 

(26,022

)

 

 

857,525

 

2021

 

 

454,875

 

 

 

229,877

 

 

 

241,873

 

 

N/A

 

 

 

(42,926

)

 

 

883,699

 

Capital Expenditures

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2023

 

$

11,942

 

 

$

34,044

 

 

$

93

 

 

N/A

 

 

$

59,196

 

 

$

105,275

 

2022

 

 

9,830

 

 

 

34,625

 

 

 

—

 

 

N/A

 

 

 

44,384

 

 

 

88,839

 

2021

 

 

13,680

 

 

 

37,063

 

 

 

—

 

 

N/A

 

 

 

44,894

 

 

 

95,637

 
Reconciliation of Total Segment Income to Consolidated Income Before Provision for Income Taxes

The following table reconciles total Segment Income to income before provision for income taxes:

 

 

 

2023

 

 

2022

 

 

2021

 

Total Segment Income

 

$

939,121

 

 

$

857,525

 

 

$

883,699

 

Depreciation and amortization

 

 

(80,640

)

 

 

(80,251

)

 

 

(72,923

)

Refranchising (loss) gain

 

 

(149

)

 

 

21,173

 

 

 

—

 

Loss on sale/disposal of assets

 

 

(1,299

)

 

 

(1,813

)

 

 

(1,189

)

Non-cash equity-based compensation expense

 

 

(37,514

)

 

 

(28,709

)

 

 

(28,670

)

Recapitalization-related expenses

 

 

—

 

 

 

—

 

 

 

(509

)

Income from operations

 

 

819,519

 

 

 

767,925

 

 

 

780,408

 

Other income

 

 

17,713

 

 

 

—

 

 

 

36,758

 

Interest income

 

 

11,683

 

 

 

3,162

 

 

 

345

 

Interest expense

 

 

(196,475

)

 

 

(198,254

)

 

 

(191,806

)

Income before provision for income taxes

 

$

652,440

 

 

$

572,833

 

 

$

625,705

 

 
Identifiable Asset Information

The following table summarizes the Company’s identifiable asset information by reportable segment as of December 31, 2023 and January 1, 2023:

 

 

 

December 31,
2023

 

 

January 1,
2023

 

U.S. stores

 

$

232,336

 

 

$

288,149

 

Supply chain

 

 

631,908

 

 

 

614,168

 

International franchise

 

 

37,981

 

 

 

36,874

 

Unallocated

 

 

772,674

 

 

 

663,030

 

Total assets

 

$

1,674,899

 

 

$

1,602,221

 

 
Goodwill

The following table summarizes the Company’s goodwill balance by reportable segment as of December 31, 2023 and January 1, 2023:

 

 

 

December 31,
2023

 

 

January 1,
2023

 

U.S. stores

 

$

10,621

 

 

$

10,696

 

Supply chain

 

 

1,067

 

 

 

1,067

 

Consolidated goodwill

 

$

11,688

 

 

$

11,763