XML 34 R23.htm IDEA: XBRL DOCUMENT v3.20.2
Segment Information
9 Months Ended
Sep. 29, 2020
Segment Information  
Segment Information

15.  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, our bakery division and Grand Lux Cafe. Based on quantitative thresholds set forth in 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, our bakery division and Grand Lux Cafe) along with our businesses that don’t qualify as operating segments, including RockSugar Southeast Asian Kitchen, Social Monk Asian Kitchen and our international business, are combined in Other. Unallocated corporate expenses, capital expenditures and assets, which were previously classified in a separate Corporate line, are also combined in Other. In addition, gift card costs, which were previously classified in The Cheesecake Factory restaurants reportable segment, are combined in Other. Corresponding prior year balances were reclassified to conform to the current year presentation.

Segment information is presented below (in thousands):

Thirteen

Thirteen

Thirty-Nine

Thirty-Nine

Weeks Ended

Weeks Ended

Weeks Ended

Weeks Ended

    

September 29, 2020

    

October 1, 2019

    

September 29, 2020

    

October 1, 2019

Revenues:

The Cheesecake Factory restaurants

$

416,984

$

536,101

$

1,146,524

$

1,636,253

North Italia

27,990

72,262

Other FRC

20,273

68,063

Other

 

52,469

 

50,435

 

141,824

 

152,409

Total

$

517,716

$

586,536

$

1,428,673

$

1,788,662

Loss/(income) from operations: (1)

The Cheesecake Factory restaurants

$

18,836

$

64,254

$

31,208

$

203,803

North Italia

(831)

(77,321)

Other FRC

 

(1,901)

 

 

(77,077)

 

Other

 

(50,962)

 

(37,290)

 

(185,436)

 

(106,592)

Total

$

(34,858)

$

26,964

$

(308,626)

$

97,211

Depreciation and amortization:

The Cheesecake Factory restaurants

$

16,713

$

17,728

$

50,857

$

53,340

North Italia

901

2,767

Other FRC

987

3,002

Other

4,050

3,614

12,177

11,023

Total

$

22,651

$

21,342

$

68,803

$

64,363

Capital expenditures:

The Cheesecake Factory restaurants

$

6,575

$

16,149

$

27,289

$

42,880

North Italia

(349)

2,645

Other FRC

 

2,123

 

 

3,914

 

Other

 

497

 

1,182

 

4,422

 

3,822

Total

$

8,846

$

17,331

$

38,270

$

46,702

Preopening costs:

The Cheesecake Factory restaurants

$

976

$

2,437

$

3,157

$

5,874

North Italia

631

1,895

Other FRC

 

306

 

 

527

 

Other

 

481

 

109

 

2,031

 

977

Total

$

2,394

$

2,546

$

7,610

$

6,851

    

September 29, 2020

    

December 31, 2019

Total assets: (1)

The Cheesecake Factory restaurants

$

1,639,811

$

1,701,418

North Italia

265,897

297,840

Other FRC

 

300,553

 

310,414

Other

 

621,802

 

530,921

Total

$

2,828,063

$

2,840,593

(1)During the thirteen weeks ended September 29, 2020, we recorded impairment of assets and lease termination expense of $10.4 million in the Other segment. During the thirty-nine weeks ended September 29, 2020, we recorded impairment of assets and lease termination expense of $3.0 million for The Cheesecake Factory restaurants, $71.5 million for North Italia, $72.9 million for Other FRC and $57.3 million for Other.