BRINKER INTERNATIONAL : Consolidated Statements of Income (Unaudited)
October 28, 2020 at 12:25 pm EDT
Share
BRINKER INTERNATIONAL, INC.
Consolidated Statements of Income (Unaudited)
Q1 F21 (c)
(In millions excepts per share amounts)
Reported
%
Special Items (a)
Discrete Tax
Adjusted
%
Item (b)
Revenues
Company sales
$
728.2
98.4 %
$
728.2
98.4 %
Franchise and other revenues (1)
11.9
1.6 %
11.9
1.6 %
Total revenues
740.1
100.0 %
740.1
100.0 %
Operating costs and expenses
Food and beverage costs (2)
193.5
26.6 %
193.5
26.6 %
Restaurant labor (2)
248.0
34.0 %
248.0
34.0 %
Restaurant expenses (2)
202.5
27.8 %
202.5
27.8 %
Depreciation and amortization (3)
37.4
5.1 %
$
(0.2)
37.2
5.0 %
General and administrative (3)
30.5
4.1 %
30.5
4.1 %
Other (gains) and charges (3)
3.8
0.5 %
(3.8)
-
- %
Total operating costs and expenses
715.7
96.7 %
(4.0)
711.7
96.2 %
Operating income
24.4
3.3 %
4.0
28.4
3.8 %
Interest expenses
14.6
2.0 %
14.6
2.0 %
Other (income), net
(0.4)
(0.1)%
(0.4)
(0.1)%
Income before income taxes
10.2
1.4 %
4.0
14.2
1.9 %
Provision (benefit) for income taxes (4)
(0.5)
(4.9)%
1.0
$
0.8
1.3
9.0 %
Net income
$
10.7
1.4 %
$
3.0
$
(0.8)
$
12.9
1.7 %
Basic net income per share
$
0.24
$
0.07
$
(0.02)
$
0.29
Diluted net income per share
$
0.23
$
0.07
$
(0.02)
$
0.28
Basic weighted average shares outstanding
45.1
45.1
45.1
45.1
Diluted weighted average shares outstanding
45.7
45.7
45.7
45.7
BRINKER INTERNATIONAL, INC.
Consolidated Statements of Income (Unaudited)
Footnotes:
Non-GAAPinformation excluding the impact of Special Items is provided to allow the reader to gain insight into the Company's ongoing operations. Special Items in the first quarter of fiscal 2021 consists of $3.8 million associated with Other (gains) and charges, and of incremental depreciation expense of $0.2 million associated with a change in estimated useful life of certain restaurant-levellong-lived assets. Please refer to the Q1 F21 Form 10-Q for further details.
Discrete tax items in the first quarter primarily related to the excess tax benefits associated with stock-based compensation.
Q1 F21 results included the ongoing impact from COVID-19 related traffic declines. Please refer to our Q1 F21 Form 10-Q for further details.
Franchise and other revenues include royalties, delivery service income, gift card breakage, franchise advertising fee revenue, digital entertainment revenue, franchise and development fees, Maggiano's banquet service charge income, gift card equalization, retail royalty revenues, merchandise income and gift card discount costs from third party gift card sales.
As a percentage of Company sales.
As a percentage of Total revenues.
As a percentage of Income before income taxes.
Attachments
Original document
Permalink
Disclaimer
Brinker International Inc. published this content on 14 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 October 2020 16:24:01 UTC
Brinker International, Inc. is a casual dining restaurant company. The Company owns, develops, operates and franchises the Chilis Grill & Bar (Chilis) and Maggianos Little Italy (Maggianos) restaurant brands, as well as a virtual brand, Its Just Wings. The Company operates through two segments: Chiliâs and Maggianoâs. The Chiliâs segment includes the Company-owned Chiliâs restaurants, which are principally located in the United States, within the full-service casual dining segment of the industry. The Chiliâs segment also has Company-owned restaurants in Canada, and franchised locations in the United States, other countries and two United States territories. The Maggianoâs segment includes the Company-owned Maggianoâs restaurants in the United States as well as its domestic franchise business. The Company owns, operates or franchises approximately 1,600 restaurants in approximately 29 countries and two United States territories.
BRINKER INTERNATIONAL, INC. 
