v3.25.2
Segment Information (Tables)
6 Months Ended
Jun. 28, 2025
Segment Reporting [Abstract]  
Schedule of Segment Results
Segment results for the three and six months ended June 28, 2025 and June 29, 2024 are as follows:
Three Months Ended June 28, 2025
(in thousands)Take 5Franchise BrandsCar WashTotal
Franchise royalties and fees$9,547 $39,633 $— $49,180 
Company-operated store sales257,449 4,654 — 262,103 
Independently-operated store sales— — 71,791 71,791 
Supply and other revenue37,228 30,321 1,579 69,128 
Total segment net revenue$304,224 $74,608 $73,370 $452,202 
Corporate and Other revenue98,786 
Total consolidated net revenue$550,988 
Other segment items196,071 29,165 46,073 
Reportable segment Adjusted EBITDA$108,153 $45,443 $27,297 $180,893 
Less:
Corporate and Other loss37,654 
Depreciation and amortization34,903 
Interest expense, net31,359 
Acquisition related costs(a)
983 
Non-core items and project costs, net(b)
8,969 
Cloud computing amortization(c)
7,255 
Share-based compensation expense(d)
11,290 
Foreign currency transaction (gain), net(e)
(12,197)
Asset sale leaseback (gain) loss, net, impairment, notes receivable loss, and closed store expenses(f)
41,727 
Income before taxes from continuing operations$18,950 
Three Months Ended June 29, 2024
(in thousands)Take 5Franchise BrandsCar WashTotal
Franchise royalties and fees$6,327 $43,702 $— $50,029 
Company-operated store sales230,809 5,143 — 235,952 
Independently-operated store sales— — 60,280 60,280 
Supply and other revenue28,148 32,177 1,406 61,731 
Total segment net revenue$265,284 $81,022 $61,686 $407,992 
Corporate and Other revenue110,804 
Total consolidated net revenue$518,796 
Other segment items166,876 26,818 39,471 
Reportable segment Adjusted EBITDA$98,408 $54,204 $22,215 $174,827 
Less:
Corporate and Other loss31,382 
Depreciation and amortization32,824 
Interest expense, net31,816 
Acquisition related costs(a)
264 
Non-core items and project costs, net(b)
5,031 
Cloud computing amortization(c)
1,069 
Share-based compensation expense(d)
10,982 
Foreign currency transaction loss, net(e)
681 
Asset sale leaseback (gain) loss, net, impairment, notes receivable loss, and closed store expenses(f)
3,201 
Income before taxes from continuing operations$57,577 
Six Months Ended June 28, 2025
(in thousands)Take 5Franchise BrandsCar WashTotal
Franchise royalties and fees$17,904 $75,986 $— $93,890 
Company-operated store sales508,249 8,646 — 516,895 
Independently-operated store sales— — 138,431 138,431 
Supply and other revenue71,513 61,659 2,965 136,137 
Total segment net revenue$597,666 $146,291 $141,396 $885,353 
Corporate and Other revenue181,798 
Total consolidated net revenue$1,067,151 
Other segment items388,595 56,465 89,711 
Reportable segment Adjusted EBITDA$209,071 $89,826 $51,685 $350,582 
Less:
Corporate and Other loss82,245 
Depreciation and amortization68,055 
Interest expense, net67,893 
Acquisition related costs(a)
998 
Non-core items and project costs, net(b)
14,213 
Cloud computing amortization(c)
9,136 
Share-based compensation expense(d)
23,078 
Foreign currency transaction (gain), net(e)
(11,987)
Asset sale leaseback (gain) loss, net, impairment, notes receivable loss, and closed store expenses(f)
53,480 
Income before taxes from continuing operations$43,471 
Six Months Ended June 29, 2024
(in thousands)Take 5Franchise BrandsCar WashTotal
Franchise royalties and fees$12,053 $83,021 $— $95,074 
Company-operated store sales451,680 9,612 — 461,292 
Independently-operated store sales— — 113,327 113,327 
Supply and other revenue56,012 64,717 2,847 123,576 
Total segment net revenue$519,745 $157,350 $116,174 $793,269 
Corporate and Other revenue207,519 
Total consolidated net revenue$1,000,788 
Other segment items332,449 55,557 75,974 
Reportable segment Adjusted EBITDA$187,296 $101,793 $40,200 $329,289 
Less:
Corporate and Other loss63,052 
Depreciation and amortization63,940 
Interest expense, net75,567 
Acquisition related costs(a)
1,965 
Non-core items and project costs, net(b)
9,742 
Cloud computing amortization(c)
2,414 
Share-based compensation expense(d)
22,843 
Foreign currency transaction loss, net(e)
5,002 
Asset sale leaseback (gain) loss, net, impairment, notes receivable loss, and closed store expenses(f)
7,177 
Income before taxes from continuing operations$77,587 
(a)Consists of acquisition costs as reflected within the consolidated statements of operations, including legal, consulting, and other fees, and expenses incurred in connection with acquisitions completed during the applicable period, as well as inventory rationalization expenses incurred in connection with acquisitions. As acquisitions occur in the future we expect to incur similar costs and, under U.S. GAAP, such costs relating to acquisitions are expensed as incurred and not capitalized.
(b)Consists of discrete items and project costs, including third party professional costs associated with strategic transformation initiatives as well as non-recurring payroll-related costs.
(c)Includes non-cash amortization expenses relating to cloud computing arrangements.
(d)Represents non-cash share-based compensation expense.
(e)Represents foreign currency transaction (gains) losses, net that primarily related to the remeasurement of our intercompany loans as well as gains and losses on cross currency swaps and forward contracts.
(f)Consists of the following items (i) (gains) losses, net on sale leasebacks, disposal of assets, or sale of business; (ii) net losses (gains) on sale for assets held for sale; (iii) impairment of certain fixed assets and operating lease right-of-use assets related to closed and underperforming locations, lease exit costs and other costs associated with stores that were closed prior to the respective lease termination dates; and (iv) unrealized loss on fair value of the Seller Note Receivable.