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Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jul. 02, 2023
Jul. 03, 2022
Jul. 02, 2023
Jul. 03, 2022
Revenues:        
Franchise rental income $ 58,033 $ 58,610 $ 115,840 $ 116,481
Revenues 561,565 537,783 1,090,372 1,026,426
Costs and expenses:        
Cost of sales 201,010 197,285 397,546 382,338
Franchise support and other costs 13,787 9,912 27,047 21,728
Franchise Rental Expense 32,396 32,076 63,025 61,012
Advertising funds expense 109,618 110,973 211,279 208,773
General and administrative 62,742 61,637 125,018 123,983
Depreciation and amortization (exclusive of amortization of cloud computing arrangements shown separately below) 33,498 33,428 66,970 66,659
Amortization of cloud computing arrangements 2,266 0 3,848 0
System optimization losses (gains), net 6 (152) 1 (3,686)
Reorganization and realignment costs 681 156 7,489 620
Impairment of long-lived assets 78 1,860 454 2,476
Other operating income, net (3,791) (5,673) (6,057) (8,639)
Costs and expenses 452,291 441,502 896,620 855,264
Operating profit 109,274 96,281 193,752 171,162
Interest expense, net (31,136) (32,125) (62,841) (58,490)
Loss on early extinguishment of debt 0 0 (1,266) 0
Investment (loss) income, net (6,827) (4) (10,389) 2,107
Other income, net 7,573 1,238 14,909 1,445
Income before income taxes 78,884 65,390 134,165 116,224
Provision for income taxes (19,252) (17,239) (34,712) (30,671)
Net income $ 59,632 $ 48,151 $ 99,453 $ 85,553
Net income per share:        
Basic $ 0.28 $ 0.23 $ 0.47 $ 0.40
Diluted $ 0.28 $ 0.22 $ 0.46 $ 0.39
Sales        
Revenues:        
Revenue from Contract with Customer, Excluding Assessed Tax $ 240,688 $ 230,869 $ 468,637 $ 440,144
Franchise royalty revenue and fees        
Revenues:        
Revenue from Contract with Customer, Excluding Assessed Tax 153,048 143,436 294,725 272,412
Advertising funds revenue        
Revenues:        
Revenue from Contract with Customer, Excluding Assessed Tax $ 109,796 $ 104,868 $ 211,170 $ 197,389