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Segment Information

12 Months Ended

Dec. 29, 2020

21. 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 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):


	Fiscal Year
	2020 ⁽¹⁾		2019 ⁽¹⁾		2018
Revenues:
The Cheesecake Factory	$	1,585,008	$	2,180,882	$	2,127,347
North Italia		102,585		35,268		—
Other FRC		96,856		39,335		—
Other		198,776		227,207		204,984
Total	$	1,983,225	$	2,482,692	$	2,332,331

(Loss)/income from operations:
The Cheesecake Factory	$	45,540	$	258,374	$	270,829
North Italia		(77,371)		1,608		—
Other FRC		(77,026)		5,309		—
Other⁽²⁾		(238,580)		(161,693)		(151,881)
Total	$	(347,437)	$	103,598	$	118,948

Depreciation and amortization:
The Cheesecake Factory	$	67,514	$	70,971	$	80,646
North Italia		3,608		829		—
Other FRC		4,090		1,037		—
Other		16,203		15,296		15,330
Total	$	91,415	$	88,133	$	95,976

Impairment of assets and lease termination:
The Cheesecake Factory	$	3,261	$	8,888	$	6,580
North Italia		71,782		—		—
Other FRC		73,049		—		—
Other		71,241		9,359		11,281
Total	$	219,333	$	18,247	$	17,861

Preopening costs:
The Cheesecake Factory	$	4,206	$	9,967	$	9,247
North Italia		2,578		1,297		—
Other FRC		1,324		49		—
Other		2,348		1,836		1,690
Total	$	10,456	$	13,149	$	10,937

Capital expenditures:
The Cheesecake Factory	$	33,154	$	59,045	$	71,880
North Italia		8,436		2,318		—
Other FRC		3,754		5,072		—
Other		4,985		7,330		31,029
Total	$	50,329	$	73,765	$	102,909

Total assets:
The Cheesecake Factory	$	1,671,733	$	1,701,418	$	928,345
North Italia		270,218		297,840		—
Other FRC		308,866		310,414		—
Other		496,237		530,921		385,788
Total	$	2,747,054	$	2,840,593	$	1,314,133

(1)

We completed the acquisition of North Italia and the remaining business of FRC on October 2, 2019. The results of the acquired businesses are included in our consolidated financial statements as of the acquisition date. (See Note 2 for further discussion of the Acquisition.)

(2)

Fiscal 2020 and fiscal 2019 include ($1.2) million and $6.3 million, respectively, of acquisition-related (benefit)/expenses. These amounts were recorded in acquisition-related costs and acquisition-related contingent consideration, compensation and amortization (benefit)/expenses in the consolidated statements of income. (See Note 2 for further discussion of the Acquisition.)