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Note 20. Business Segment Reporting
 12 Months Ended
Dec. 31, 2015
Segment Reporting [Abstract]  
Note 20. Business Segment Reporting

Our reportable business segments are organized in a manner that reflects how management views those business activities. Certain businesses have been grouped together for segment reporting based upon operations even though those business units are operated under separate management.

 

Our restaurant operations includes Steak n Shake and Western. As a result of the acquisitions of Maxim and First Guard, the Company reports segment information for these businesses. Prior to 2015, other business activities not specifically identified with reportable business segments were presented in corporate. Beginning in 2015, such other business activities are presented in other within total operating businesses.  Prior periods have been reclassified to conform to the current year presentation. We report our earnings from investment partnerships separate from corporate.  

 

We assess and measure segment operating results based on segment earnings as disclosed below. Segment earnings from operations are not necessarily indicative of cash available to fund cash requirements, nor are they synonymous with cash flow from operations.

 

The tabular information that follows shows data of our reportable segments reconciled to amounts reflected in the consolidated financial statements.

 

A disaggregation of select data from our consolidated statements of earnings for 2015, transition periods 2014 and 2013, and fiscal years 2014 and 2013 is presented in the tables that follow.

 

Revenue and earnings (loss) before income taxes for 2015, transition periods 2014 and 2013, and fiscal years 2014 and 2013 were as follows.

 

   Revenue
      Transition Period  Fiscal Year
   2015  2014  2013  2014  2013
         (unaudited)      
Operating Businesses:                         
Restaurant Operations:                         
Steak n Shake  $805,771   $212,369   $201,483   $765,600   $737,090 
Western   13,967    3,279    2,959    12,555    14,829 
Total Restaurant Operations   819,738    215,648    204,442    778,155    751,919 
First Guard   17,232    3,574    —      5,715    —   
Maxim   24,482    5,228    —      9,941    —   
Total Operating Businesses   861,452    224,450    204,442    793,811    751,919 
Consolidated Affiliated Partnerships   —      —      —      —      3,903 
   $861,452   $224,450   $204,442   $793,811   $755,822 
                          

 

   Earnings (Loss) Before Income Taxes
      Transition Period  Fiscal Year
   2015  2014  2013  2014  2013
         (unaudited)      
Operating Businesses:                         
Restaurant Operations:                         
Steak n Shake  $39,749   $10,172   $9,461   $26,494   $28,376 
Western   1,849    394    329    1,765    511 
Total Restaurant Operations   41,598    10,566    9,790    28,259    28,887 
First Guard   3,529    906    —      1,461    —   
Maxim   (18,105)   (5,498)   —      (15,981)   —   
Other   564    3    21    500    4,748 
Total Operating Businesses   27,586    5,977    9,811    14,239    33,635 
Corporate and investments:                         
Corporate   (13,722)   (1,807)   (3,264)   (8,503)   (14,465)
Investment gains (including contributions)   —      —      —      29,524    183,774 
Investment partnership gains (loss)   (39,356)   144,702    23,493    14,055    20,068 
Total corporate   (53,078)   142,895    20,229    35,076    189,377 
Interest expense on notes                         
payable and other borrowings   (11,939)   (3,272)   (1,641)   (10,299)   (6,551)
   $(37,431)  $145,600   $28,399   $39,016   $216,461 

 

A disaggregation of our consolidated capital expenditure and depreciation and amortization captions for 2015, transition periods 2014 and 2013, and fiscal years 2014 and 2013 is presented in the tables that follow.

 

   Capital Expenditures
      Transition Period  Fiscal Year
   2015  2014  2013  2014  2013
         (unaudited)      
Operating Businesses:                         
Restaurant Operations:                         
Steak n Shake  $8,434   $8,733   $4,997   $25,398   $6,337 
Western   43    —      11    1,113    64 
Total Restaurant Operations   8,477    8,733    5,008    26,511    6,401 
First Guard   102    10    —      —      —   
Maxim   16    57    —      312    —   
Other   2,486    7    275    6,840    6,235 
Total Operating Businesses   11,081    8,807    5,283    33,663    12,636 
Corporate   2    9    —      2,149    1,531 
Consolidated results  $11,083   $8,816   $5,283   $35,812   $14,167 
                          

 

   Depreciation and Amortization
      Transition Period  Fiscal Year
   2015  2014  2013  2014  2013
         (unaudited)      
Operating Businesses:                         
Restaurant Operations:                         
Steak n Shake  $23,045   $6,289   $6,274   $23,402   $24,230 
Western   691    172    160    662    693 
Total Restaurant Operations   23,736    6,461    6,434    24,064    24,923 
First Guard   36    30    —      38    —   
Maxim   296    151    —      211    —   
Other   412    116    34    279    —   
Total Operating Businesses   24,480    6,758    6,468    24,592    24,923 
Corporate   300    70    98    313    327 
Consolidated results  $24,780   $6,828   $6,566   $24,905   $25,250 

 

A disaggregation of our consolidated asset captions is presented in the table that follows.

 

   Identifiable Assets
   December 31,
   2015  2014
Reportable segments:          
Restaurant Operations:          
Steak n Shake  $409,505   $422,784 
Western   17,626    19,241 
Total Restaurant Operations   427,131    442,025 
First Guard   41,159    36,847 
Maxim   24,418    23,759 
Other   23,587    22,518 
Corporate   15,934    91,660 
Investment partnerships   471,689    697,982 
Total assets  $1,003,918   $1,314,791