F-6
Texas Roadhouse, Inc. and SubsidiariesConsolidated Statements of Income and Comprehensive Income(in thousands, except per share data)Fiscal Year Ended
December 31, December 25, December 26,
2019 2018 2017
Revenue:
Restaurant and other sales ..................................... $ 2,734,177 $ 2,437,115 $ 2,203,017
Franchise royalties and fees. .................................. 21,986 20,334 16,514
Total revenue ................................................... 2,756,163 2,457,449 2,219,531
Costs and expenses:
Restaurant operating costs (excluding depreciation and
amortization shown separately below):
Cost of sales ................................................ 883,357 795,300 721,550
Labor ...................................................... 905,614 793,384 687,545
Rent ....................................................... 52,531 48,791 44,807
Other operating ............................................. 418,448 375,477 342,702
Pre-opening .................................................. 20,156 19,051 19,274
Depreciation and amortization .................................. 115,544 101, 216 93,499
Impairment and closure, net .................................... (899) 278 654
General and administrative ..................................... 149,389 136,163 123,294
Total costs and expenses .......................................... 2,544,140 2,269,660 2,033,325
Income from operations .......................................... 212,023 187,789 186,206
Interest income (expense), net ..................................... 1,514 (591) (1,577)
Equity income from investments in unconsolidated affiliates ............ 378 1,353 1,488
Income before taxes ............................................. 213,915 188, 551 186,117
Provision for income taxes ........................................ 32,397 24,257 48,581
Net income including noncontrolling interests ........................ 181,518 164, 294 137,536
Less: Net income attributable to noncontrolling interests ............... 7,066 6,069 6,010
Net income attributable to Texas Roadhouse, Inc. and subsidiaries....... $ 174,452 $ 158,225 $ 131,526
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustment, net of tax of ($1), $53 and
($97), respectively ............................................... 3 (189) 155
Total comprehensive income ...................................... $ 174,455 $ 158,036 $ 131,681
Net income per common share attributable to Texas Roadhouse, Inc.
and subsidiaries:
Basic ....................................................... $ 2.47 $ 2.21 $ 1.85
Diluted ...................................................... $ 2.46 $ 2.20 $ 1.84
Weighted average shares outstanding:
Basic ....................................................... 70,509 71,467 70,989
Diluted ...................................................... 70,916 71,964 71,527
Cash dividends declared per share .................................. $ 1.20 $ 1.00 $ 0.84
See accompanying notes to Consolidated Financial Statements.