Segment Information

9 Months Ended

Oct. 03, 2023

Segment Information

Segment Information

11.  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 and our bakery division. Based on quantitative thresholds set forth in Accounting Standards Codification (“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 and our bakery division) along with our businesses that do not qualify as operating segments are combined in Other. Unallocated corporate expenses, capital expenditures and assets are also combined in Other.

Segment information is presented below (in thousands):

	Thirteen		Thirteen		Thirty-Nine		Thirty-Nine
	Weeks Ended		Weeks Ended		Weeks Ended		Weeks Ended
	October 3, 2023		September 27, 2022		October 3, 2023		September 27, 2022
Revenues:
The Cheesecake Factory restaurants	$	628,140	$	602,902	$	1,936,621	$	1,853,576
North Italia		62,417		54,113		191,654		163,108
Other FRC		58,642		52,193		193,010		171,045
Other		81,011		74,793		241,209		222,625
Total	$	830,210	$	784,001	$	2,562,494	$	2,410,354
Income/(loss) from operations:
The Cheesecake Factory restaurants	$	67,637	$	42,122	$	231,700	$	169,893
North Italia		4,081		1,655		15,314		10,381
Other FRC		1,036		4,109		15,826		18,231
Other		(53,724)		(50,091)		(162,413)		(144,447)
Total	$	19,030	$	(2,205)	$	100,427	$	54,058
Depreciation and amortization:
The Cheesecake Factory restaurants	$	15,702	$	15,874	$	47,955	$	47,736
North Italia		1,578		1,556		4,713		4,076
Other FRC		1,891		1,661		5,627		4,712
Other		3,666		3,560		10,829		10,240
Total	$	22,837	$	22,651	$	69,124	$	66,764
Impairment of assets and lease termination expenses/(income):
The Cheesecake Factory restaurants	$	29	$	—	$	160	$	(59)
North Italia		—		—		—		—
Other FRC		—		—		55		—
Other		19		—		1,422		372
Total	$	48	$	—	$	1,637	$	313
Preopening costs:
The Cheesecake Factory restaurants	$	3,861	$	2,757	$	8,401	$	5,163
North Italia		1,068		1,341		2,132		2,755
Other FRC		1,764		84		4,483		357
Other		49		145		784		763
Total	$	6,742	$	4,327	$	15,800	$	9,038
Capital expenditures:
The Cheesecake Factory restaurants	$	22,973	$	19,176	$	54,729	$	48,097
North Italia		6,573		3,281		19,583		11,110
Other FRC		4,459		5,175		15,629		11,014
Other		3,258		4,039		9,982		7,832
Total	$	37,263	$	31,671	$	99,923	$	78,053

	October 3, 2023		January 3, 2023
Total assets:
The Cheesecake Factory restaurants	$	1,562,081	$	1,625,073
North Italia		332,502		306,642
Other FRC		370,955		301,618
Other		511,352		541,887
Total	$	2,776,890	$	2,775,220