NASDAQ_TXRH_2018

(coco) #1

Results of Operations
Fiscal Year
2018 2017 2016
$ % $ % $ %
(In thousands)
Consolidated Statements of Income:
Revenue:
Restaurant and other sales .................... 2,437,115 99.2 2,203, 017 99.3 1,974,261 99.2
Franchise royalties and fees... ................ 20,334 0.8 16,514 0.7 16,453 0.8
Total revenue ................................. 2,457,449 100.0 2,219,531 100.0 1,990,714 100.0
Costs and expenses:
(As a percentage of restaurant and other sales)
Restaurant operating costs (excluding
depreciation and amortization shown
separately below):
Cost of sales .............................. 795,300 32.6 721, 550 32.8 669,203 33.9
Labor .................................... 793,384 32.6 687, 545 31.2 590,256 29.9
Rent ..................................... 48,791 2.0 44,807 2.0 40,580 2.1
Other operating ........................... 375,477 15.4 342, 702 15.6 305,290 15.5
(As a percentage of total revenue)
Pre-opening ................................ 19,051 0.8 19,274 0.9 19,547 1.0
Depreciation and amortization ................ 101,216 4.1 93,499 4.2 82,964 4.2
Impairment and closure ...................... 278 NM 654 NM 179 NM
General and administrative ................... 136,163 5.5 123, 294 5.6 110,795 5.6
Total costs and expenses ........................ 2,269,660 92.4 2,033, 325 91.6 1,818,814 91.4
Income from operations ........................ 187,789 7.6 186, 206 8.4 171,900 8.6
Interest expense, net ........................... 591 0.0 1,577 0.1 1,255 0.1
Equity income from investments in
unconsolidated affiliates ........................ (1,353) (0.1) (1,488) (0.1) (1,111) (0.1)
Income before taxes ........................... 188,551 7.7 186, 117 8.4 171,756 8.6
Provision for income taxes ...................... 24,257 1.0 48,581 2.2 51,183 2.6
Net income including noncontrolling interests...... 164,294 6.7 137,536 6.2 120,573 6.1
Net income attributable to noncontrolling interests.. 6,069 0.2 6,010 0.3 4,975 0.2
Net income attributable to Texas Roadhouse, Inc.
and subsidiaries ............................... 158,225 6.4 131, 526 5.9 115,598 5.8


NM – Not meaningful

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