Bloomin' Brands, Inc.BLMN
Bloomin' Brands, Inc. Segments Disclosure
Segment Reporting
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The Company considers each of its U.S. restaurant concepts and its international franchise business as operating segments, which reflects how the Company manages its business, reviews operating performance and allocates resources. All other operating segments, which include the Company’s operations in Hong Kong and the equity method investment in Brazil, do not meet the quantitative thresholds for determining reportable operating segments.
Resources are allocated and performance is assessed by the Company’s Chief Executive Officer, whom the Company has determined to be its CODM. The Company aggregates its U.S. operating segments into a U.S. reportable segment. The U.S. segment includes all restaurants operating in the U.S. while franchised restaurants operating outside the U.S. are included in the international franchise segment.
The following is a summary of reportable segments:
| REPORTABLE SEGMENT | CONCEPT | GEOGRAPHIC LOCATION | ||||||||||||
| U.S. (1) | Outback Steakhouse | United States of America | ||||||||||||
| Carrabba’s Italian Grill | ||||||||||||||
| Bonefish Grill | ||||||||||||||
| Fleming’s Prime Steakhouse & Wine Bar | ||||||||||||||
| International Franchise | Outback Steakhouse | 12 Franchise Markets | ||||||||||||
| Carrabba’s Italian Grill (Abbraccio) | ||||||||||||||
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(1)Includes franchise locations.
Segment accounting policies are the same as those described in Note 1 - Summary of Significant Accounting Policies. Revenues for all segments include transactions with customers and royalties from franchisees. There were no material transactions among reportable segments. Excluded from Income from operations for U.S. are certain legal and corporate costs not directly related to the performance of the segment, most stock-based compensation expenses, a portion of insurance expenses and certain bonus expenses.
Operating income is utilized by the Company’s CODM as the primary segment profit or loss measure to allocate resources in the planning and forecasting process and also to review operating performance by monitoring actual results versus prior year and forecasts.
The following table is a summary of revenues by segment for the periods indicated:
| FISCAL YEAR | |||||||||||||||||
| (dollars in thousands) | 2025 | 2024 | 2023 | ||||||||||||||
| Revenues | |||||||||||||||||
| U.S. | $ | 3,886,425 | $ | 3,857,134 | $ | 4,053,599 | |||||||||||
| International Franchise | 31,297 | 39,490 | 41,524 | ||||||||||||||
| Total segment revenues | 3,917,722 | 3,896,624 | 4,095,123 | ||||||||||||||
| All other revenues | 38,274 | 53,851 | 73,037 | ||||||||||||||
| Total revenues | $ | 3,955,996 | $ | 3,950,475 | $ | 4,168,160 | |||||||||||
The following table presents segment operating income and significant segment expense information for the periods indicated:
| FISCAL YEAR | |||||||||||||||||
| (dollars in thousands) | 2025 | 2024 | 2023 | ||||||||||||||
| U.S. | |||||||||||||||||
| Total revenues | $ | 3,886,425 | $ | 3,857,134 | $ | 4,053,599 | |||||||||||
| Less: | |||||||||||||||||
| Food and beverage | 1,166,722 | 1,132,678 | 1,219,141 | ||||||||||||||
| Labor and other related | 1,217,802 | 1,183,227 | 1,203,170 | ||||||||||||||
| Other restaurant operating | 988,586 | 970,119 | 964,308 | ||||||||||||||
| Other (1) | 333,282 | 321,060 | 289,446 | ||||||||||||||
| Total segment expenses | 3,706,392 | 3,607,084 | 3,676,065 | ||||||||||||||
| Income from operations | $ | 180,033 | $ | 250,050 | $ | 377,534 | |||||||||||
International Franchise | |||||||||||||||||
| Total revenues | $ | 31,297 | $ | 39,490 | $ | 41,524 | |||||||||||
Less: | |||||||||||||||||
| Total segment expenses (1) | 885 | 1,529 | 2,317 | ||||||||||||||
Income from operations | $ | 30,412 | $ | 37,961 | $ | 39,207 | |||||||||||
| Total segment | |||||||||||||||||
| Total revenues | $ | 3,917,722 | $ | 3,896,624 | $ | 4,095,123 | |||||||||||
Less: | |||||||||||||||||
| Total segment expenses | 3,707,277 | 3,608,613 | 3,678,382 | ||||||||||||||
Total segment income from operations | $ | 210,445 | $ | 288,011 | $ | 416,741 | |||||||||||
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(1)Includes depreciation and amortization and general and administrative expense. The U.S. segment also includes impairment expense.
The following table is a reconciliation of segment income from operations to Income (loss) before (benefit) provision for income taxes for the periods indicated:
| FISCAL YEAR | |||||||||||||||||
| (dollars in thousands) | 2025 | 2024 | 2023 | ||||||||||||||
| Total segment income from operations | $ | 210,445 | $ | 288,011 | $ | 416,741 | |||||||||||
| Unallocated corporate operating expense | (175,536) | (130,769) | (134,057) | ||||||||||||||
| Other income (loss) from operations | 2,254 | (17,434) | 85 | ||||||||||||||
| Total income from operations | 37,163 | 139,808 | 282,769 | ||||||||||||||
| Loss on extinguishment of debt | — | (136,022) | — | ||||||||||||||
| Interest expense, net | (45,354) | (62,593) | (51,582) | ||||||||||||||
| (Loss) income before (benefit) provision for income taxes | $ | (8,191) | $ | (58,807) | $ | 231,187 | |||||||||||
The following table is a summary of Depreciation and amortization expense by segment for the periods indicated:
| FISCAL YEAR | |||||||||||||||||
| (dollars in thousands) | 2025 | 2024 | 2023 | ||||||||||||||
| Depreciation and amortization | |||||||||||||||||
| U.S. | $ | 167,670 | $ | 165,140 | $ | 157,878 | |||||||||||
| International Franchise | — | — | 252 | ||||||||||||||
| Total segment depreciation and amortization | 167,670 | 165,140 | 158,130 | ||||||||||||||
| Corporate | 9,117 | 8,568 | 7,611 | ||||||||||||||
| Other | 893 | 1,872 | 3,525 | ||||||||||||||
| Total depreciation and amortization | $ | 177,680 | $ | 175,580 | $ | 169,266 | |||||||||||
The following table is a summary of capital expenditures by segment for the periods indicated:
| FISCAL YEAR | |||||||||||||||||
| (dollars in thousands) | 2025 | 2024 | 2023 | ||||||||||||||
| Capital expenditures | |||||||||||||||||
| U.S. | $ | 168,391 | $ | 212,526 | $ | 269,843 | |||||||||||
| Corporate | 11,502 | 7,477 | 11,774 | ||||||||||||||
| Other | 31 | 734 | 612 | ||||||||||||||
| Total capital expenditures | $ | 179,924 | $ | 220,737 | $ | 282,229 | |||||||||||
The following table sets forth Total assets by segment as of the periods indicated:
| (dollars in thousands) | DECEMBER 28, 2025 | DECEMBER 29, 2024 | |||||||||
| Assets | |||||||||||
| U.S. | $ | 2,598,842 | $ | 2,735,251 | |||||||
| International Franchise | 105,237 | 103,242 | |||||||||
| Total segment assets | 2,704,079 | 2,838,493 | |||||||||
| Corporate | 387,573 | 306,560 | |||||||||
| Other (1) | 80,255 | 16,262 | |||||||||
| Assets of discontinued operations held for sale | — | 223,490 | |||||||||
| Total assets | $ | 3,171,907 | $ | 3,384,805 | |||||||
(1)Includes the Company’s equity method investment in Brazil.
Geographic areas — The following table details long-lived assets, excluding goodwill, operating lease right-of-use assets, intangible assets and deferred tax assets, by major geographic area as of the periods indicated:
| (dollars in thousands) | DECEMBER 28, 2025 | DECEMBER 29, 2024 | |||||||||
| U.S. | $ | 1,022,451 | $ | 1,018,309 | |||||||
| International (1) | 65,454 | 4,683 | |||||||||
| Total long-lived assets | $ | 1,087,905 | $ | 1,022,992 | |||||||
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(1)Includes the Company’s equity method investment in Brazil.
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Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 25, 2026 | Showing above |
| 2024 | Feb 26, 2025 | |
| 2023 | Feb 28, 2024 | |
| 2022 | Feb 22, 2023 | |
| 2021 | Feb 23, 2022 | |
| 2020 | Feb 24, 2021 | |
| 2019 | Feb 26, 2020 | |
| 2018 | Feb 27, 2019 | |
| 2017 | Feb 28, 2018 | |
| 2016 | Feb 22, 2017 | |
| 2015 | Feb 24, 2016 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.