Baskin Robbins 2012 Annual Report Download - page 84

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-74-
Beginning in fiscal year 2012, retail sales for Dunkin’ Donuts U.S. company-owned restaurants are now included in the
Dunkin’ Donuts U.S. segment revenues. Prior to fiscal year 2012, retail sales for Dunkin’ Donuts U.S. company-owned
restaurants were excluded from segment revenues. Additionally, revenue and segment profit for Baskin-Robbins’ sales to
United States military locations located internationally were previously included in the Baskin-Robbins International segment,
but are now included within the Baskin-Robbins U.S. segment. Revenues for Dunkin’ Donuts U.S. and revenues and segment
profit for Baskin-Robbins U.S. and Baskin-Robbins International in the tables below have been restated to reflect these changes
for all periods presented. There was no impact to Dunkin’ Donuts U.S. segment profit as the net operating income earned from
company-owned restaurants was previously included in segment profit.
Revenues for all operating segments include only transactions with unaffiliated customers and include no intersegment
revenues. Revenues reported as “Other” include revenue earned through arrangements with third parties in which our brand
names are used and revenue generated from online training programs for franchisees that are not allocated to a specific
segment. Revenues by segment were as follows (in thousands):
Revenues
Fiscal year ended
December 29,
2012
December 31,
2011
December 25,
2010
Dunkin’ Donuts U.S. $ 485,399 449,492 417,319
Dunkin’ Donuts International 15,485 15,253 14,128
Baskin-Robbins U.S. 42,074 43,455 44,801
Baskin-Robbins International 101,975 106,887 89,404
Total reportable segments 644,933 615,087 565,652
Other 13,248 13,111 11,483
Total revenues $ 658,181 628,198 577,135
Revenues for foreign countries are represented by the Dunkin’ Donuts International and Baskin-Robbins International segments
above. No individual foreign country accounted for more than 10% of total revenues for any fiscal year presented.
Expenses included in “Corporate and other” in the segment profit table below include corporate overhead costs, such as payroll
and related benefit costs and professional services, as well as the impairment charge recorded in fiscal year 2011 related to our
investment in BR Korea (see note 6). Segment profit by segment was as follows (in thousands):
Segment profit
Fiscal year ended
December 29,
2012
December 31,
2011
December 25,
2010
Dunkin’ Donuts U.S. $ 355,274 334,308 293,132
Dunkin’ Donuts International 9,670 11,528 14,573
Baskin-Robbins U.S. 26,274 21,593 28,446
Baskin-Robbins International 42,004 42,844 40,757
Total reportable segments 433,222 410,273 376,908
Corporate and other (136,488)(150,382)(118,482)
Interest expense, net (73,488)(104,449)(112,532)
Depreciation and amortization (56,027)(52,522)(57,826)
Impairment charges (1,278)(2,060)(7,075)
Loss on debt extinguishment and refinancing transactions (3,963)(34,222)(61,955)
Other gains, net 23 175 408
Income before income taxes $ 162,001 66,813 19,446
Net income (loss) of equity method investments, including amortization on intangibles resulting from the BCT Acquisition, is
included in segment profit for the Dunkin’ Donuts International and Baskin-Robbins International reportable segments.
Expenses included in “Other” in the segment profit table below represent the impairment charge recorded in fiscal year 2011