| Segment Reporting |
Note 19 - Segment Reporting
The Company’s Chief Executive Officer (“CEO”), who began serving as the Company’s CEO on October 30, 2017 and has been deemed the Company’s Chief Operating Decision Maker, manages the business and allocates resources via a combination of restaurant sales reports and segment profit information (which is defined as revenue less operating expenses) related to the Company’s three sources of revenue, which are presented in their entirety within the consolidated statements of operations and comprehensive loss. We have revised our segments to align with how our CEO manages the business. Prior period segments have been restated to conform to the current year’s presentation (in thousands):
| |
|
Years ended December 31, |
|
| |
|
2017 |
|
|
2016 |
|
| Revenues: |
|
|
|
|
|
|
|
|
| Owned restaurants |
|
$ |
58,654 |
|
|
$ |
54,068 |
|
| Owned food, beverage and other operations |
|
|
10,227 |
|
|
|
9,880 |
|
| Managed and licensed operations |
|
|
10,779 |
|
|
|
8,466 |
|
| |
|
$ |
79,660 |
|
|
$ |
72,414 |
|
| |
|
|
|
|
|
|
|
|
| Segment Profits: |
|
|
|
|
|
|
|
|
| Owned restaurants |
|
$ |
6,034 |
|
|
$ |
5,745 |
|
| Owned food, beverage and other operations |
|
|
827 |
|
|
|
1,075 |
|
| Managed and licensed operations |
|
|
10,779 |
|
|
|
8,466 |
|
| |
|
|
|
|
|
|
|
|
| Total segment profit |
|
|
17,640 |
|
|
|
15,286 |
|
| |
|
|
|
|
|
|
|
|
| General and administrative |
|
|
11,893 |
|
|
|
11,172 |
|
| Depreciation and amortization |
|
|
3,051 |
|
|
|
2,647 |
|
| Interest expense, net of interest income |
|
|
1,167 |
|
|
|
464 |
|
| Equity in income of investee companies |
|
|
(168 |
) |
|
|
(674 |
) |
| Other, net |
|
|
5,522 |
|
|
|
7,670 |
|
| |
|
|
|
|
|
|
|
|
| Loss from continuing operations before provision for income taxes |
|
$ |
(3,825 |
) |
|
$ |
(5,993 |
) |
| |
|
Years ended December 31, |
|
| |
|
2017 |
|
|
2016 |
|
| Total assets: |
|
|
|
|
|
|
|
|
| Owned restaurants |
|
$ |
40,570 |
|
|
$ |
40,600 |
|
| Owned food, beverage and other operations* |
|
|
7,385
|
|
|
|
7,048 |
|
| Managed and licensed operations |
|
|
5,060
|
|
|
|
4,496 |
|
| Total |
|
$ |
53,015 |
|
|
$ |
52,144 |
|
| * Includes corporate assets |
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| Capital asset additions: |
|
|
|
|
|
|
|
|
| Owned restaurants |
|
$ |
3,955 |
|
|
$ |
11,151
|
|
| Owned food, beverage and other operations** |
|
|
655 |
|
|
|
450
|
|
| Managed and licensed operations |
|
|
— |
|
|
|
— |
|
| Total |
|
$ |
4,610
|
|
|
$ |
11,601 |
|
| ** Includes corporate capital asset additions |
|
|
|
|
|
|
|
|
|