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Stockholders' Equity
 3 Months Ended
Mar. 29, 2020
Stockholders' Equity Attributable to Parent [Abstract]  
Stockholders' Equity
Stockholders’ Equity

Share Repurchases - The Company did not repurchase any shares of its outstanding common stock during the thirteen weeks ended March 29, 2020. Under the terms of the Amended Credit Agreement, repurchasing shares of the Company’s outstanding common stock is restricted until after September 26, 2021.

Dividends - The Company declared and paid dividends per share during fiscal year 2020 as follows:
(in thousands, except per share data)
DIVIDENDS PER SHARE
 
AMOUNT
First fiscal quarter
$
0.20

 
$
17,480



Redeemable Preferred Stock - In connection with the development of its Abbraccio Cucina Italiana (“Abbraccio”) concept in 2015, the Company entered into an investment agreement (the “Abbraccio Investment Agreement”) to sell preferred shares of its Abbraccio subsidiary (“Abbraccio Shares”) to certain investors (“Abbraccio Partners”). The Abbraccio Investment Agreement included a call option for the purchase of the Abbraccio Shares (the “Abbraccio Call Option”).

During the thirteen weeks ended March 29, 2020, the Company exercised the Abbraccio Call Option to purchase all outstanding Abbraccio Shares for $1.0 million and recorded a reduction to Accumulated deficit and an increase in Net loss applicable to common stockholders of $3.5 million for the consideration paid in excess of the Abbraccio Shares’ carrying value.

Accumulated Other Comprehensive Loss (“AOCL”) - Following are the components of AOCL as of the periods indicated:
(dollars in thousands)
MARCH 29, 2020
 
DECEMBER 29, 2019
Foreign currency translation adjustment
$
(159,328
)
 
$
(152,031
)
Unrealized loss on derivatives, net of tax
(29,685
)
 
(17,745
)
Accumulated other comprehensive loss
$
(189,013
)
 
$
(169,776
)

Following are the components of Other comprehensive (loss) income attributable to Bloomin’ Brands for the periods indicated:
 
THIRTEEN WEEKS ENDED
(dollars in thousands)
MARCH 29, 2020
 
MARCH 31, 2019
Foreign currency translation adjustment
$
(7,297
)
 
$
5,847

 
 
 
 
Unrealized loss on derivatives, net of tax (1)
$
(13,336
)
 
$
(4,381
)
Reclassification of adjustments for loss (gain) on derivatives included in Net income, net of tax (2)
1,396

 
(364
)
Total unrealized loss on derivatives, net of tax
$
(11,940
)
 
$
(4,745
)
Other comprehensive (loss) income attributable to Bloomin’ Brands
$
(19,237
)
 
$
1,102

________________
(1)
Unrealized loss on derivatives is net of tax of $(4.6) million and $(1.5) million for the thirteen weeks ended March 29, 2020 and March 31, 2019, respectively.
(2)
Reclassifications of adjustments for loss (gain) on derivatives are net of tax. See Note 13 - Derivative Instruments and Hedging Activities for the tax impact of reclassifications.