Chili's 2015 Annual Report Download - page 60

Download and view the complete annual report

Please find page 60 of the 2015 Chili's annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 84

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84

We paid dividends of $70.8 million to common stock shareholders during fiscal 2015, compared to $63.4
million in the prior year. Additionally, we declared a quarterly dividend of approximately $17.0 million, or $0.28
per share, in May 2015 which was paid on June 25, 2015.
(t) Comprehensive Income
Comprehensive income is defined as the change in equity of a business enterprise during a period from
transactions and other events and circumstances from non-owner sources. Fiscal 2015 and 2014 comprehensive
income consists of net income and foreign currency translation adjustments. The foreign currency translation
adjustment represents the unrealized impact of translating the financial statements of the Canadian restaurants
and the joint venture with CMR from their respective functional currencies to U.S. dollars. This amount is not
included in net income and would only be realized upon disposition of the businesses. The accumulated other
comprehensive loss is presented on the consolidated balance sheets. We reinvest foreign earnings, therefore,
United States deferred income taxes have not been provided on foreign earnings. Fiscal 2013 comprehensive
income consists of net income.
(u) Net Income Per Share
Basic earnings per share is computed by dividing income available to common shareholders by the weighted
average number of common shares outstanding for the reporting period. Diluted earnings per share reflects the
potential dilution that could occur if securities or other contracts to issue common stock were exercised or
converted into common stock. For the calculation of diluted net income per share, the basic weighted average
number of shares is increased by the dilutive effect of stock options and restricted share awards, determined
using the treasury stock method. We had approximately 119,000 stock options and restricted share awards
outstanding at June 24, 2015, 113,000 stock options and restricted share awards outstanding at June 25, 2014,
and 193,000 stock options and restricted share awards outstanding at June 27, 2013 that were not included in the
dilutive earnings per share calculation because the effect would have been antidilutive.
Basic weighted average shares outstanding is reconciled to diluted weighted average shares outstanding as
follows (in thousands):
2015 2014 2013
Basic weighted average shares outstanding ....................... 63,072 66,251 71,788
Dilutive stock options .................................... 569 853 955
Dilutive restricted shares ................................. 763 1,048 1,415
1,332 1,901 2,370
Diluted weighted average shares outstanding ..................... 64,404 68,152 74,158
(v) Segment Reporting
Operating segments are components of an enterprise about which separate financial information is available
that is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in
assessing performance. Two or more operating segments may be aggregated into a single operating segment if
they have similar economic characteristics and are similar in the following areas:
• The nature of products and services
• Nature of production processes
• Type or class of customer
• Methods used to distribute products or provide services
• The nature of the regulatory environment, if applicable
F-24