Segment Information

6 Months Ended

Jul. 04, 2023

Segment Information

Segment Information

11.  Segment Information

Our operating segments, the businesses for which our management reviews discrete financial information for decision-making purposes, are comprised of The Cheesecake Factory, North Italia, Flower Child, the other FRC brands and our bakery division. Based on quantitative thresholds set forth in Accounting Standards Codification (“ASC”) 280, “Segment Reporting,” The Cheesecake Factory, North Italia and the other FRC brands are the only businesses that meet the criteria of a reportable operating segment. The remaining operating segments (Flower Child and our bakery division) along with our businesses that do not qualify as operating segments are combined in Other. Unallocated corporate expenses, capital expenditures and assets are also combined in Other.

Segment information is presented below (in thousands):

	Thirteen		Thirteen		Twenty-Six		Twenty-Six
	Weeks Ended		Weeks Ended		Weeks Ended		Weeks Ended
	July 4, 2023		June 28, 2022		July 4, 2023		June 28, 2022
Revenues:
The Cheesecake Factory restaurants	$	652,481	$	640,858	$	1,308,481	$	1,250,674
North Italia		65,934		56,238		129,237		108,995
Other FRC		65,728		60,020		134,368		118,852
Other		82,027		75,527		160,198		147,832
Total	$	866,170	$	832,643	$	1,732,284	$	1,626,353
Income from operations:
The Cheesecake Factory restaurants	$	85,677	$	64,327	$	164,073	$	127,771
North Italia		6,627		5,048		11,233		8,726
Other FRC		6,079		6,793		14,790		14,122
Other		(50,912)		(48,226)		(108,699)		(94,356)
Total	$	47,471	$	27,942	$	81,397	$	56,263
Depreciation and amortization:
The Cheesecake Factory restaurants	$	16,235	$	16,275	$	32,244	$	31,862
North Italia		1,668		1,222		3,135		2,520
Other FRC		1,809		1,470		3,736		3,051
Other		3,620		3,641		7,172		6,680
Total	$	23,332	$	22,608	$	46,287	$	44,113
Impairment of assets and lease termination (income)/expenses:
The Cheesecake Factory restaurants	$	38	$	106	$	131	$	(59)
North Italia		—		—		—		—
Other FRC		—		—		55		—
Other		(691)		—		1,403		372
Total	$	(653)	$	106	$	1,589	$	313
Preopening costs:
The Cheesecake Factory restaurants	$	3,091	$	1,372	$	4,539	$	2,406
North Italia		618		1,004		1,064		1,414
Other FRC		1,999		284		2,720		273
Other		298		287		735		618
Total	$	6,006	$	2,947	$	9,058	$	4,711
Capital expenditures:
The Cheesecake Factory restaurants	$	8,543	$	8,324	$	31,756	$	28,921
North Italia		6,879		4,825		13,010		7,829
Other FRC		6,005		1,983		11,170		5,839
Other		3,271		2,157		6,724		3,793
Total	$	24,698	$	17,289	$	62,660	$	46,382

	July 4, 2023		January 3, 2023
Total assets:
The Cheesecake Factory restaurants	$	1,568,359	$	1,625,073
North Italia		320,658		306,642
Other FRC		324,404		301,618
Other		556,287		541,887
Total	$	2,769,708	$	2,775,220