Revenues |
4.
Revenues
Revenues,
as disaggregated by revenue type, timing of recognition, and reportable segment (see also Note 17), are shown below (in thousands).
Schedule of Disaggregation of Segment Revenues
| |
Fiscal
2021 | |
| |
Nightclubs | | |
Bombshells | | |
Other | | |
Total | |
Sales of alcoholic beverages | |
$ | 54,305 | | |
$ | 32,380 | | |
$ | - | | |
$ | 86,685 | |
Sales of food and merchandise | |
| 17,221 | | |
| 23,890 | | |
| - | | |
| 41,111 | |
Service revenues | |
| 55,146 | | |
| 315 | | |
| - | | |
| 55,461 | |
Other revenues | |
| 10,676 | | |
| 36 | | |
| 1,289 | | |
| 12,001 | |
| |
$ | 137,348 | | |
$ | 56,621 | | |
$ | 1,289 | | |
$ | 195,258 | |
| |
| | | |
| | | |
| | | |
| | |
Recognized at a point in time | |
$ | 135,799 | | |
$ | 56,617 | | |
$ | 1,284 | | |
$ | 193,700 | |
Recognized over time | |
| 1,549 | | |
| 4 | | |
| 5 | | |
| 1,558 | |
| |
$ | 137,348 | | |
$ | 56,621 | | |
$ | 1,289 | | |
$ | 195,258 | |
| |
Fiscal
2020 | |
| |
Nightclubs | | |
Bombshells | | |
Other | | |
Total | |
Sales of alcoholic beverages | |
$ | 31,950 | | |
$ | 27,130 | | |
$ | - | | |
$ | 59,080 | |
Sales of food and merchandise | |
| 8,561 | | |
| 15,899 | | |
| - | | |
| 24,460 | |
Service revenues | |
| 41,004 | | |
| 158 | | |
| - | | |
| 41,162 | |
Other revenues | |
| 6,858 | | |
| 28 | | |
| 739 | | |
| 7,625 | |
| |
$ | 88,373 | | |
$ | 43,215 | | |
$ | 739 | | |
$ | 132,327 | |
| |
| | | |
| | | |
| | | |
| | |
Recognized at a point in time | |
$ | 87,049 | | |
$ | 43,215 | | |
$ | 725 | | |
$ | 130,989 | |
Recognized over time | |
| 1,324 | | |
| - | | |
| 14 | | |
| 1,338 | |
| |
$ | 88,373 | | |
$ | 43,215 | | |
$ | 739 | | |
$ | 132,327 | |
| |
Fiscal
2019 | |
| |
Nightclubs | | |
Bombshells | | |
Other | | |
Total | |
Sales of alcoholic beverages | |
$ | 57,277 | | |
$ | 17,863 | | |
$ | - | | |
$ | 75,140 | |
Sales of food and merchandise | |
| 13,051 | | |
| 12,779 | | |
| - | | |
| 25,830 | |
Service revenues | |
| 67,893 | | |
| 162 | | |
| - | | |
| 68,055 | |
Other revenues | |
| 10,385 | | |
| 24 | | |
| 1,625 | | |
| 12,034 | |
| |
$ | 148,606 | | |
$ | 30,828 | | |
$ | 1,625 | | |
$ | 181,059 | |
| |
| | | |
| | | |
| | | |
| | |
Recognized at a point in time | |
$ | 146,938 | | |
$ | 30,828 | | |
$ | 1,572 | | |
$ | 179,338 | |
Recognized over time | |
| 1,668 | | |
| - | | |
| 53 | | |
| 1,721 | |
| |
$ | 148,606 | | |
$ | 30,828 | | |
$ | 1,625 | | |
$ | 181,059 | |
* |
Lease revenue (included in Other Revenues) is covered by ASC 842 in fiscal 2021 and 2020, and ASC 840
in fiscal 2019. All other revenues are covered by ASC Topic 606. |
RCI
HOSPITALITY HOLDINGS, INC.
Notes
to Consolidated Financial Statements
4.
Revenues - continued
The
Company does not have contract assets with customers. The Company’s unconditional right to consideration for goods and services
transferred to the customer is included in accounts receivable, net in our consolidated balance sheet. A reconciliation of contract liabilities
with customers, included in accrued liabilities in our consolidated balance sheets, is presented below (in thousands):
Schedule of Reconciliation of Contract Liabilities with Customers
| |
Balance
at September 30, 2019 | | |
Consideration
Received | | |
Recognized
in Revenue | | |
Balance
at September 30, 2020 | | |
Consideration
Received | | |
Recognized
in Revenue | | |
Balance
at September 30, 2021 | |
Ad revenue | |
$ | 76 | | |
$ | 538 | | |
$ | (522 | ) | |
$ | 92 | | |
$ | 593 | | |
$ | (601 | ) | |
$ | 84 | |
Expo revenue | |
| - | | |
| 211 | | |
| - | | |
| 211 | | |
| 393 | | |
| (453 | ) | |
| 151 | |
Other (including franchise fees, see below) | |
| 7 | | |
| 40 | | |
| (14 | ) | |
| 33 | | |
| 94 | | |
| (8 | ) | |
| 119 | |
| |
$ | 83 | | |
$ | 789 | | |
$ | (536 | ) | |
$ | 336 | | |
$ | 1,080 | | |
$ | (1,062 | ) | |
$ | 354 | |
Contract
liabilities with customers are included in accrued liabilities as unearned revenues in our consolidated balance sheets (see also Note
5), while the revenues associated with these contract liabilities are included in other revenues in our consolidated statements of operations.
On
December 22, 2020, the Company signed a franchise development agreement with a group of private investors to open three Bombshells locations
in San Antonio, Texas over a period of five years, and the right of first refusal for three more locations in Corpus Christi, New Braunfels,
and San Marcos, all in Texas. Upon execution of the agreement, the Company collected $75,000
in development fees representing 100%
of the initial franchise fee of the first restaurant and 50%
of the initial franchise fee of the second restaurant.
|