Segment Information (Tables)

6 Months Ended

Jun. 30, 2020

Summary of Financial Information Concerning Reportable Segments

As of and for the three months ended June 30, 2020:


	Restaurant Group		Dun & Bradstreet		Corporate and Other		Dun & Bradstreet Elimination		Total
	(in millions)
Restaurant revenues	$	99.4	$	—	$	—	$	—	$	99.4
Other operating revenues	—		420.6		3.2		(420.6)		3.2
Revenues from external customers	99.4		420.6		3.2		(420.6)		102.6
Interest, investment and other income, including realized and other gains and losses, net	(0.1)		(122.5)		586.5		122.5		586.4
Total revenues and other income	99.3		298.1		589.7		(298.1)		689.0
Depreciation and amortization	6.6		132.6		0.7		(132.6)		7.3
Interest expense	(1.1)		(78.0)		0.1		78.0		(1.0)
(Loss) earnings before income taxes and equity in earnings (losses) of unconsolidated affiliates	(24.0)		(201.9)		563.7		201.9		539.7
Income tax (benefit) expense	—		(27.5)		131.1		27.5		131.1
(Loss) earnings, before equity in (losses) earnings of unconsolidated affiliates	(24.0)		(174.4)		432.6		174.4		408.6
Equity in (losses) earnings of unconsolidated affiliates	(9.7)		0.6		122.7		(56.1)		57.5
Net (loss) earnings from continuing operations	$	(33.7)	$	(173.8)	$	555.3	$	118.3	$	466.1
Assets	$	408.0	$	8,985.1	$	3,380.6	$	(8,985.1)	$	3,788.6
Goodwill	53.5		2,848.0		—		(2,848.0)		53.5

As of and for the three months ended June 30, 2019:


	Restaurant Group		Dun & Bradstreet		Corporate and Other		Dun & Bradstreet Elimination		Total
	(in millions)
Restaurant revenues	$	266.5	$	—	$	—	$	—	$	266.5
Other operating revenues	—		398.9		5.7		(398.9)		5.7
Revenues from external customers	266.5		398.9		5.7		(398.9)		272.2
Interest investment and other income, including realized and other gains and losses, net	2.8		8.7		73.7		(8.7)		76.5
Total revenues and other income	269.3		407.6		79.4		(407.6)		348.7
Depreciation and amortization	9.4		136.8		0.5		(136.8)		9.9
Interest expense	(1.5)		(86.0)		(4.0)		86.0		(5.5)
(Loss) earnings before income taxes and equity in earnings (losses) of unconsolidated affiliates	(11.6)		(86.4)		61.2		86.4		49.6
Income tax (benefit) expense	—		(23.1)		7.1		23.1		7.1
(Loss) earnings before equity in earnings of unconsolidated affiliates	(11.6)		(63.3)		54.1		63.3		42.5
Equity in earnings (losses) of unconsolidated affiliates	—		2.8		1.7		(25.6)		(21.1)
Net (loss) earnings from continuing operations	$	(11.6)	$	(60.5)	$	55.8	$	37.7	$	21.4
Assets	$	636.2	$	9,073.3	$	1,216.0	$	(9,073.3)	$	1,852.2
Goodwill	76.5		2,792.6		—		(2,792.6)		76.5

As of and for the six months ended June 30, 2020:


	Restaurant Group		Dun & Bradstreet		Corporate and Other		Dun & Bradstreet Elimination		Total
	(in millions)
Restaurant revenues	$	269.3	$	—	$	—	$	—	$	269.3
Other operating revenues	—		815.9		6.3		(815.9)		6.3
Revenues from external customers	269.3		815.9		6.3		(815.9)		275.6
Interest, investment and other income, including realized and other gains and losses, net	7.7		(32.2)		1,496.0		32.2		1,503.7
Total revenues and other income	277.0		783.7		1,502.3		(783.7)		1,779.3
Depreciation and amortization	14.3		266.9		1.4		(266.9)		15.7
Interest expense	(4.2)		(161.0)		(0.6)		161.0		(4.8)
(Loss) earnings before income taxes and equity in earnings (losses) of unconsolidated affiliates	(44.9)		(202.9)		1,444.8		202.9		1,399.9
Income tax (benefit) expense	—		(101.8)		300.5		101.8		300.5
(Loss) earnings, before equity in (losses) earnings of unconsolidated affiliates	(44.9)		(101.1)		1,144.3		101.1		1,099.4
Equity in (losses) earnings of unconsolidated affiliates	(14.9)		1.2		65.1		(46.6)		4.8
Net (loss) earnings from continuing operations	$	(59.8)	$	(99.9)	$	1,209.4	$	54.5	$	1,104.2
Assets	$	408.0	$	8,985.1	$	3,380.6	$	(8,985.1)	$	3,788.6
Goodwill	53.5		2,848.0		—		(2,848.0)		53.5

As of and for the six months ended June 30, 2019:


	Restaurant Group		Dun & Bradstreet		Corporate and Other		Dun & Bradstreet Elimination		Total
	(in millions)
Restaurant revenues	$	524.3	$	—	$	—	$	—	$	524.3
Other operating revenues	—		573.0		10.2		(573.0)		10.2
Revenues from external customers	524.3		573.0		10.2		(573.0)		534.5
Interest investment and other income, including realized and other gains and losses, net	3.5		13.9		85.6		(13.9)		89.1
Total revenues and other income	527.8		586.9		95.8		(586.9)		623.6
Depreciation and amortization	19.1		217.3		1.2		(217.3)		20.3
Interest expense	(2.5)		(135.0)		(6.7)		135.0		(9.2)
(Loss) earnings before income taxes and equity in earnings (losses) of unconsolidated affiliates	(19.7)		(198.3)		67.1		198.3		47.4
Income tax (benefit) expense	(0.1)		(53.5)		1.2		53.5		1.1
(Loss) earnings before equity in earnings of unconsolidated affiliates	(19.6)		(144.8)		65.9		144.8		46.3
Equity in earnings (losses) of unconsolidated affiliates	—		2.9		4.6		(50.0)		(42.5)
Net (loss) earnings from continuing operations	$	(19.6)	$	(141.9)	$	70.5	$	94.8	$	3.8
Assets	$	636.2	$	9,073.3	$	1,216.0	$	(9,073.3)	$	1,852.2
Goodwill	76.5		2,792.6		—		(2,792.6)		76.5

The activities in our segments include the following:

•Restaurant Group. This segment consists of the operations of O'Charley's and 99 Restaurants, in which we have 65.4% and 88.5% ownership interests, respectively, and our portion of Blue Ribbon's losses accounted for as an unconsolidated affiliate. The full results of Blue Ribbon are included through January 27, 2020, the date of commencement of the Blue Ribbon Reorganization. O'Charley's and its affiliates are the owners and operators of the O'Charley's restaurant concept. 99 Restaurants and its affiliates are the owners and operators of 99 Restaurants restaurant concept. Blue Ribbon and its affiliates are the owners and operators of the Village Inn and Bakers Square food service and restaurant concepts, as well as the Legendary Baking bakery operation.

•Dun & Bradstreet. This segment consists of our 24.3% ownership interest in the D&B Predecessor. Dun & Bradstreet is a leading global provider of business decisioning data and analytics. Its mission is to deliver a global network of trust, enabling clients to transform uncertainty into confidence, risk into opportunity and potential into prosperity. Clients embed D&B's trusted, end-to-end solutions into their daily workflows to enhance salesforce productivity, gain visibility into key markets, inform commercial credit decisions and confirm that suppliers are financially viable and compliant with laws and regulations. Dun & Bradstreet's solutions support its clients’ mission critical business operations by providing proprietary and curated data and analytics to help drive informed decisions and improved outcomes. Dun & Bradstreet's global commercial database as of December 31, 2019 contained more than 355 million business records. Our chief operating decision maker reviews the full financial results of Dun & Bradstreet for purposes of assessing performance and allocating resources. Thus, we consider Dun & Bradstreet a reportable segment and have included the full results of Dun & Bradstreet subsequent to the D&B Acquisition in the tables above. We account for Dun & Bradstreet using the equity method of accounting, and therefore its results do not consolidate into ours. Accordingly, we have presented the elimination of Dun & Bradstreet's results in the Dun & Bradstreet Elimination section of the segment presentation above. Our net earnings for the six months ended June 30, 2019, includes our equity in Dun & Bradstreet’s losses for the period from February 8, 2019, the date we made our initial investment in the D&B Predecessor, to June 30, 2019. See Note D for further discussion of our investment in Dun & Bradstreet and related accounting.

•Corporate and Other. This nonreportable segment consists of our share in the operations of certain controlled portfolio companies and other equity investments, activity of the corporate holding company and certain intercompany eliminations and taxes