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Segment Information (Tables)
3 Months Ended
Mar. 26, 2022
Segment Reporting [Abstract]  
Schedule of Segment Results
Segment results for the three months ended March 26, 2022 and March 27, 2021 are as follows:
Three months ended March 26, 2022
(in thousands)MaintenanceCar WashPaint,
Collision &
Glass
Platform
Services
Corporate
and Other
Total
Franchise royalties and fees$9,635 $— $21,365 $6,888 $— $37,888 
Company-operated store sales156,82894,495 39,998 1,152 (82)292,391 
Independently-operated store sales— 63,089 — — — 63,089 
Advertising fund contributions— — — — 19,698 19,698 
Supply and other revenue12,279 1,691 18,080 35,126 (11,919)55,257 
Total revenue$178,742 $159,275 $79,443 $43,166 $7,697 $468,323 
Segment Adjusted EBITDA$52,485 $55,720 $29,012 $14,165 $(32,362)$119,020 
Three months ended March 27, 2021
(in thousands)MaintenanceCar WashPaint,
Collision &
Glass
Platform
Services
Corporate
and Other
Total
Franchise royalties and fees$7,927 $— $17,309 $5,178 $— $30,414 
Company-operated store sales114,067 57,048 11,930 983 (173)183,855 
Independently-operated store sales— 56,163 — — — 56,163 
Advertising fund contributions— — — — 17,255 17,255 
Supply and other revenue6,157 1,453 14,652 28,435 (8,964)41,733 
Total revenue$128,151 $114,664 $43,891 $34,596 $8,118 $329,420 
Segment Adjusted EBITDA$40,440 $34,155 $17,639 $11,008 $(25,019)$78,223 
Schedule of Reconciliation of Segment Adjusted EBITDA to Income Before Taxes
The reconciliations of Income before taxes to Segment Adjusted EBITDA for the three months ended March 26, 2022 and March 27, 2021 are as follows:
Three months ended
(in thousands)March 26, 2022March 27, 2021
Income (loss) before taxes$47,396 $(24,378)
Depreciation and amortization33,023 23,852 
Interest expense, net25,353 18,091 
Acquisition related costs(a)
4,318 1,646 
Non-core items and project costs, net(b)
866 32 
Store opening costs506 289 
Straight-line rent adjustment(c)
4,093 2,485 
Equity-based compensation expense(d)
2,618 983 
Foreign currency transaction (gain) / loss, net(e)
971 10,511 
Asset sale leaseback (gain) loss, impairment and closed store expenses(f)
(124)(786)
Loss on debt extinguishment(g)
— 45,498 
Segment Adjusted EBITDA$119,020 $78,223 

(a)     Consists of acquisition costs as reflected within the consolidated statements of operations, including legal, consulting and other fees and expenses incurred in connection with acquisitions completed during the applicable period, as well as inventory rationalization expenses incurred in connection with acquisitions. We expect to incur similar costs in connection with other acquisitions in the future and, under GAAP, such costs relating to acquisitions are expensed as incurred and not capitalized.
(b)     Consists of discrete items and project costs, including (i) third party consulting and professional fees associated with strategic transformation initiatives and (ii) other miscellaneous expenses, including non-capitalizable expenses relating to the Company’s initial public offering and other strategic transactions.
(c)     Consists of the non-cash portion of rent expense, which reflects the extent to which our straight-line rent expense recognized under GAAP exceeds or is less than our cash rent payments.
(d)     Represents non-cash equity-based compensation expense.
(e)     Represents foreign currency transaction net gains and losses primarily related to the remeasurement of our intercompany loans which are partially offset by unrealized gains and losses on remeasurement of cross currency swaps and forward contracts.
(f)     Relates to (gain) loss on sale leasebacks, impairment of certain fixed assets and operating lease right-of-use assets related to closed locations. Also, represents lease exit costs and other costs associated with stores that were closed prior to the respective lease termination dates.
(g)     Represents the write-off of unamortized discount associated with the repayment of the Car Wash Senior Credit Facilities.