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Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jul. 03, 2022
Jul. 04, 2021
Jul. 03, 2022
Jul. 04, 2021
Revenues        
Franchise rental income $ 58,610 $ 60,868 $ 116,481 $ 119,744
Revenues 537,783 493,337 1,026,426 953,540
Costs and expenses        
Cost of sales 197,285 154,154 382,338 311,004
Franchise support and other costs 9,912 8,885 21,728 16,571
Franchise rental expense 32,076 34,068 61,012 66,634
Advertising funds expense 110,973 107,875 208,773 202,113
General and administrative 61,637 63,114 123,983 115,736
Depreciation and amortization 33,428 30,761 66,659 62,303
System optimization gains, net (152) (30,766) (3,686) (31,282)
Reorganization and realignment costs 156 2,102 620 7,036
Impairment of long-lived assets 1,860 630 2,476 1,265
Other operating income, net (5,673) (4,232) (8,639) (7,708)
Costs and expenses 441,502 366,591 855,264 743,672
Operating profit 96,281 126,746 171,162 209,868
Interest expense, net (32,125) (28,204) (58,490) (56,990)
Loss on early extinguishment of debt 0 (17,917) 0 (17,917)
Investment (loss) income, net (4) 3 2,107 6
Other income, net 1,238 158 1,445 284
Income before income taxes 65,390 80,786 116,224 135,251
Provision for income taxes (17,239) (15,062) (30,671) (28,161)
Net income $ 48,151 $ 65,724 $ 85,553 $ 107,090
Earnings per share        
Earnings Per Share, Basic $ 0.23 $ 0.30 $ 0.40 $ 0.48
Earnings Per Share, Diluted $ 0.22 $ 0.29 $ 0.39 $ 0.47
Sales        
Revenues        
Revenue from Contract with Customer, Excluding Assessed Tax $ 230,869 $ 193,525 $ 440,144 $ 382,582
Franchise royalty revenue and fees        
Revenues        
Revenue from Contract with Customer, Excluding Assessed Tax 143,436 136,661 272,412 259,491
Advertising funds revenue        
Revenues        
Revenue from Contract with Customer, Excluding Assessed Tax $ 104,868 $ 102,283 $ 197,389 $ 191,723