v3.26.1
Reportable Segments
 6 Months Ended
Jun. 28, 2026
Segment Reporting [Abstract]  
Reportable Segments Reportable Segments
Information on segments and a reconciliation of segment operating profit to income before income taxes is as follows:
Three Months Ended June 28, 2026
FranchiseCompany-Owned RestaurantsRentalTotal
(In millions)
Revenues$166.9 $47.3 $26.7 $240.9 
Less: Advertising revenue71.9 — — 71.9 
Revenues excluding advertising revenue95.0 47.3 26.7 169.0 
Less: Cost of revenues
Interest expense from finance leases— — (0.6)(0.6)
Depreciation and amortization(0.1)(1.5)(2.2)(3.8)
Other segment items(a)
(8.7)(47.6)(17.1)(73.4)
Segment profit (loss)86.2 (1.8)6.8 91.2 
Stock based compensation (direct)(1.1)— — (1.1)
Gain on disposition of assets0.3 — — 0.3 
Other G&A expenses (direct and allocated)(31.9)(3.4)— (35.3)
Segment operating profit (loss)$53.5 $(5.2)$6.8 $55.1 
Reconciliation of segment operating profit
Segment operating profit$55.1 
Depreciation and amortization (unallocated)(4.2)
Stock based compensation (unallocated)(2.4)
Other G&A expenses (unallocated)(12.5)
Interest expense, net(22.1)
Closure and impairment charges(4.0)
Amortization of intangible assets(3.9)
Income before income taxes$6.0 
Six Months Ended June 28, 2026
FranchiseCompany-Owned RestaurantsRentalTotal
(In millions)
Revenues$331.9 $80.7 $53.5 $466.1 
Less: Advertising revenue143.0——143.0
Revenues excluding advertising revenue188.9 80.7 53.5 323.1 
Less: Cost of revenues
Interest expense from finance leases——(1.2)(1.2)
Depreciation and amortization(0.3)(2.7)(4.4)(7.4)
Other segment items(a)
(19.8)(81.3)(34.9)(136.0)
Segment profit (loss)168.8(3.3)13.0178.5
Stock based compensation (direct)(2.2)——(2.2)
Gain on disposition of assets2.5——2.5
Other G&A expenses (direct and allocated)(63.1)(6.7)—(69.8)
Segment operating profit (loss)$106.0 $(10.0)$13.0 $109.0 
Reconciliation of segment operating profit
Segment operating profit$109.0 
Depreciation and amortization (unallocated)(8.8)
Stock based compensation (unallocated)(5.3)
Other G&A expenses (unallocated)(22.6)
Interest expense, net(43.8)
Closure and impairment charges(4.8)
Amortization of intangible assets(7.6)
Income before income taxes$16.1 
Three Months Ended June 29, 2025
FranchiseCompany-Owned RestaurantsRentalTotal
(In millions)
Revenues$174.7 $28.2 $27.8 $230.8 
Less: Advertising revenue73.5 — — 73.5 
Revenues excluding advertising revenue101.2 28.2 27.8 157.3 
Less: Cost of revenues
Interest expense from finance leases— — (0.7)(0.7)
Depreciation and amortization(0.2)(0.8)(2.5)(3.4)
Other segment items(a)
(12.8)(30.2)(18.1)(61.0)
Segment profit (loss)88.3 (2.7)6.6 92.2 
Stock based compensation (direct)(1.0)— — (1.0)
Loss on disposition of assets— — — — 
Other G&A expenses (direct and allocated)(32.0)(1.9)— (33.9)
Segment operating profit$55.3 $(4.6)$6.6 $57.3 
Reconciliation of segment operating profit
Segment operating profit$57.3 
Depreciation and amortization (unallocated)(4.4)
Stock based compensation (unallocated)(2.2)
Other G&A expenses (unallocated)(9.2)
Interest expense, net(17.8)
Closure and impairment charges(1.2)
Amortization of intangible assets(2.7)
Loss on extinguishment of debt(0.9)
Income before income taxes$18.9 
Six Months Ended June 29, 2025
FranchiseCompany-Owned RestaurantsRentalTotal
(In millions)
Revenues$340.9 $49.8 $54.8 $445.5 
Less: Advertising revenue144.0——144.0
Revenues excluding advertising revenue196.949.854.8301.5
Less: Cost of revenues
Interest expense from finance leases——(1.4)(1.4)
Depreciation and amortization(0.3)(1.3)(4.9)(6.5)
Other segment items(a)
(23.3)(51.6)(36.2)(111.1)
Segment profit (loss)173.3(3.1)12.3182.5
Stock based compensation (direct)(2.1)——(2.1)
Gain on disposition of assets0.1——0.1
Other G&A expenses (direct and allocated)(63.2)(3.3)—(66.5)
Segment operating profit$108.1 $(6.4)$12.3 $114.1 
Reconciliation of segment operating profit
Segment operating profit$114.1 
Depreciation and amortization (unallocated)(8.9)
Stock based compensation (unallocated)(4.6)
Other G&A expenses (unallocated)(20.1)
Interest expense, net(35.5)
Closure and impairment charges(7.0)
Amortization of intangible assets(5.4)
Loss on extinguishment of debt(0.9)
Income before income taxes$31.7 
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(a) Segment items include: Franchise: Costs of proprietary products, bad debt expense, pre-opening training expenses and other franchise-related costs. Company-owned restaurants: Operating expenses at company-owned restaurants include food, beverage, labor, benefits, utilities, rent and other operating costs. Rental: Costs of operating leases, such as rent expense, and interest expense of finance leases on franchisee-operated restaurants.
We do not present a measure of assets for our reportable segments as this information is not used by the chief operating decision maker to allocate resources or assess performance.