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Note 17. Business Segment Reporting
 12 Months Ended
Dec. 31, 2016
Segment Reporting [Abstract]  
Note 17. Business Segment Reporting

Our reportable business segments are organized in a manner that reflects how management views those business activities.

 

Our restaurant operations includes Steak n Shake and Western. As a result of the acquisitions of First Guard and Maxim, the Company reports segment information for these businesses. Other business activities not specifically identified with reportable business segments are presented in “other” within total operating businesses. We report our earnings from investment partnerships separate from our corporate expenses.

 

We assess and measure segment operating results based on segment earnings as disclosed below. Segment earnings from operations are neither necessarily indicative of cash available to fund cash requirements, nor synonymous with cash flow from operations.

 

The tabular information that follows shows data of our reportable segments reconciled to amounts reflected in the consolidated financial statements.

 

Revenue for 2016, 2015, transition periods 2014 and 2013, and fiscal year 2014 were as follows.

 

    Revenue
            Transition Period   Fiscal Year
    2016   2015   2014   2013   2014
                (unaudited)    
Operating Businesses:                    
Restaurant Operations:                    
Steak n Shake    $      804,423    $     805,771    $      212,369    $      201,483    $      765,600
Western              13,491             13,967                3,279                2,959              12,555
Total Restaurant Operations            817,914           819,738            215,648            204,442            778,155
First Guard              22,997             17,232                3,574                     -                   5,715
Maxim                9,165             24,482                5,228                     -                   9,941
     $      850,076    $     861,452    $      224,450    $      204,442    $      793,811

 

Earnings (loss) before income taxes for 2016, 2015, transition periods 2014 and 2013, and fiscal year 2014 were as follows.

 

    Earnings (Loss) Before Income Taxes
            Transition Period   Fiscal Year
    2016   2015   2014   2013   2014
                (unaudited)    
Operating Businesses:                    
Restaurant Operations:                    
Steak n Shake    $        34,717    $       39,749    $        10,172    $          9,461    $        26,494
Western                2,506               1,849                   394                   329                1,765
Total Restaurant Operations              37,223             41,598              10,566                9,790              28,259
First Guard                5,135               3,529                   906                     -                   1,461
Maxim            (10,078)            (18,105)              (5,498)                     -               (15,981)
Other                     94                  564                       3                     21                   500
Total Operating Businesses              32,374             27,586                5,977                9,811              14,239
Corporate and investments:                    
Corporate            (10,241)            (13,731)              (1,807)              (3,264)              (8,503)
Gains (losses) on contibutions to partnerships                 (306)                     -                        -                        -                 29,524
Investment partnership gains (loss)            135,886            (39,356)            144,702              23,493              14,055
Total corporate            125,339            (53,087)            142,895              20,229              35,076
Interest expense on notes                    
payable and other borrowings            (11,450)            (11,930)              (3,272)              (1,641)            (10,299)
     $      146,263    $      (37,431)    $      145,600    $        28,399    $        39,016

 

A disaggregation of our consolidated capital expenditure captions for 2016, 2015, transition periods 2014 and 2013, and fiscal year 2014 is presented in the tables that follow.

 

    Capital Expenditures
            Transition Period   Fiscal Year
    2016   2015   2014   2013   2014
                (unaudited)    
Operating Businesses:                    
Restaurant Operations:                    
Steak n Shake    $        11,624    $          8,434    $          8,733    $          4,997    $        25,398
Western                   306                     43                      -                        11                1,113
Total Restaurant Operations              11,930                8,477                8,733                5,008              26,511
First Guard                       7                   102                     10                      -                         -   
Maxim                     42                     16                     57                      -                      312
Other                     51                2,486                       7                   275                6,840
Total Operating Businesses              12,030              11,081                8,807                5,283              33,663
Corporate                      -                          2                       9                      -                   2,149
Consolidated results    $        12,030    $        11,083    $          8,816    $          5,283    $        35,812

 

A disaggregation of our depreciation and amortization captions for 2016, 2015, transition periods 2014 and 2013, and fiscal year 2014 is presented in the tables that follow.

 

    Depreciation and Amortization
            Transition Period   Fiscal Year
    2016   2015   2014   2013   2014
                (unaudited)    
Operating Businesses:                    
Restaurant Operations:                    
Steak n Shake    $        20,968    $        23,045    $          6,289    $          6,274    $        23,402
Western                   605                   691                   172                   160                   662
Total Restaurant Operations              21,573              23,736                6,461                6,434              24,064
First Guard                     64                     36                     30                      -                        38
Maxim                   409                   296                   151                      -                      211
Other                   431                   412                   116                     34                   279
Total Operating Businesses              22,477              24,480                6,758                6,468              24,592
Corporate                   448                   300                     70                     98                   313
Consolidated results    $        22,925    $        24,780    $          6,828    $          6,566    $        24,905

 

A disaggregation of our consolidated asset captions is presented in the table that follows.

 

     Identifiable Assets 
    December 31,
    2016   2015
Reportable segments:        
Restaurant Operations:        
Steak n Shake    $           395,809    $           393,853
Western                   17,040                   17,412
Total Restaurant Operations                 412,849                 411,265
First Guard                   42,746                   41,159
Maxim                   19,100                   23,545
Other                   21,116                   23,587
Corporate                   23,519                   15,834
Investment partnerships                 577,637                 471,689
Total assets    $        1,096,967    $           987,079