Earnings Claims of Top Franchises Revealed

Earnings Claims of Top Franchises Revealed

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FDD Talk Daily: Restaurant Operating Profit for Corporate-Owned T.G.I. Friday’s Restaurants

by Franchise Chatter on April 9, 2013

in Franchise Earnings, Restaurant Franchise



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Highlights of T.G.I. Friday’s Item 19 Financial Performance Representations (2012 FDD) – Part 4

  • All figures are rounded off to the nearest thousand dollars.

Other Occupancy Costs:  $175,000 (5.4%)

  • Other Occupancy Costs include depreciation, amortization, and loss on asset disposition.
  • T.G.I. Friday's Exterior Photo by UggBoyHeartUggGirlProperty and equipment are depreciated over their estimated useful lives, using the straight-line method.
  • Amortization of leasehold improvements is based upon the lesser of the applicable lease term, in the event of a lease, or the estimated useful lives of such assets, using the straight-line method. Estimated useful lives are based upon the company’s experience with the various types of assets as limited by generally accepted accounting principles.
  • Costs incurred, and paid to third party vendors, in the selection of sites for new Friday’s restaurants are capitalized as construction costs and expensed over the period of the assets’ estimated useful lives or the lease term, in the event of a lease.
  • The cost of hiring and training personnel in connection with the commencement of Restaurant operations is expensed in pre-opening costs as incurred in accordance with generally accepted accounting principles. For the purposes of this analysis, pre-opening expenses are excluded.
  • Loss on Asset Disposition reflects write-offs taken upon the disposal of furniture, fixtures, equipment, leasehold improvements, or the like for which depreciation of capitalized expenditures could not be taken in accordance with generally accepted accounting principles.


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