Chili's 2015 Annual Report Download - page 40

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RESULTS OF OPERATIONS FOR FISCAL YEARS 2015, 2014, AND 2013
The following table sets forth selected operating data as a percentage of total revenues (unless otherwise
noted) for the periods indicated. All information is derived from the accompanying consolidated statements of
comprehensive income:
Fiscal Years
2015 2014 2013
Revenues:
Company sales ...................................... 96.8% 97.0% 97.1%
Franchise and other revenues .......................... 3.2% 3.0% 2.9%
Total revenues .................................. 100.0% 100.0% 100.0%
Operating Costs and Expenses:
Company restaurants (excluding depreciation and
amortization)
Cost of sales(1) ................................. 26.7% 26.9% 27.4%
Restaurant labor(1) .............................. 32.0% 32.1% 32.3%
Restaurant expenses(1) ........................... 24.2% 24.2% 23.8%
Company restaurant expenses(1) ........................ 82.9% 83.2% 83.5%
Depreciation and amortization ......................... 4.8% 4.7% 4.6%
General and administrative ............................ 4.4% 4.5% 4.7%
Other gains and charges ............................... 0.2% 1.7% 0.6%
Total operating costs and expenses .................. 89.6% 91.7% 91.0%
Operating income ....................................... 10.4% 8.3% 9.0%
Interest expense ......................................... 1.0% 1.0% 1.0%
Other, net .............................................. (0.1)% (0.1)% (0.1)%
Income before provision for income taxes .................... 9.5% 7.4% 8.1%
Provision for income taxes ................................ 2.9% 2.1% 2.4%
Net income ..................................... 6.6% 5.3% 5.7%
(1) As a percentage of company sales.
REVENUES
Revenues are presented in two separate captions on the consolidated statements of comprehensive income to
provide more clarity around company-owned restaurant revenue and operating expense trends. Company sales
includes revenues generated by the operation of company-owned restaurants including gift card redemptions.
Franchise and other revenues includes royalties, development fees, franchise fees, Maggiano’s banquet service
charge income, certain gift card activity (breakage and discounts), tabletop gaming revenue, retail food royalties
and delivery fee income.
F-4