Segment Information

8 Months Ended

Sep. 08, 2024

Segment Reporting [Abstract]

Segment Information

2. Segment Information

The tables below summarize the financial information concerning the Company’s reportable segments for the third quarter and three fiscal quarters of 2024 and the third quarter and three fiscal quarters of 2023. 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.

	Fiscal Quarters Ended September 8, 2024 and September 10, 2023
	U.S.		Supply		International		Intersegment
	Stores		Chain		Franchise		Revenues			Other			Total
Revenues
2024	$	354,172	$	679,664	$	74,633	$	(28,350	)	$	—		$	1,080,119
2023		336,133		643,728		73,142		(25,642	)		—			1,027,361
Segment Income
2024	$	128,577	$	61,173	$	62,367	N/A			$	(22,839	)	$	229,278
2023		120,351		55,250		61,495	N/A				(19,809	)		217,287

	Three Fiscal Quarters Ended September 8, 2024 and September 10, 2023
	U.S.		Supply		International		Intersegment
	Stores		Chain		Franchise		Revenues			Other			Total
Revenues
2024	$	1,072,435	$	2,053,055	$	220,295	$	(83,283	)	$	—		$	3,262,502
2023		1,005,055		1,935,332		213,308		(77,309	)		—			3,076,386
Segment Income
2024	$	394,167	$	190,736	$	180,796	N/A			$	(67,178	)	$	698,521
2023		356,626		163,791		178,499	N/A				(54,396	)		644,520

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

	Fiscal Quarter Ended						Three Fiscal Quarters Ended
	September 8,			September 10,			September 8,			September 10,
	2024			2023			2024			2023
Total Segment Income	$	229,278		$	217,287		$	698,521		$	644,520
Depreciation and amortization		(20,756	)		(18,268	)		(60,974	)		(54,999	)
Refranchising loss		—			—			(158	)		(149	)
Loss on sale/disposal of assets		(174	)		(145	)		(501	)		(547	)
Non-cash equity-based compensation expense		(9,517	)		(9,442	)		(31,541	)		(26,507	)
Income from operations		198,831			189,432			605,347			562,318
Other income		26,172			28,231			18,871			13,267
Interest income		4,339			2,707			12,297			7,635
Interest expense		(44,726	)		(44,796	)		(135,293	)		(136,275	)
Income before provision for income taxes	$	184,616		$	175,574		$	501,222		$	446,945