What changed in this filing

/stocks — the workspaceLOADING

Item 1. Financial Statements

2025-08-07 compared with 2025-05-08 · 240 added, 156 removed, 567 unchanged (41% of the section changed)

2 unchanged sentences

(IN THOUSANDS, EXCEPT SHARE AND PER SHARE DATA)

MARCH 30, 2025 DECEMBER 29, 2024

JUNE 29, 2025 DECEMBER 29, 2024

Current assets

31 unchanged sentences

Preferred stock, $ 0.01 par value, 25,000,000 shares authorized;

no shares issued and outstanding as of March 30, 2025 and December 29, 2024

no shares issued and outstanding as of June 29, 2025 and December 29, 2024

Common stock, $ 0.01 par value, 475,000,000 shares authorized;

84,987,054 and 84,854,768 shares issued and outstanding as of March 30, 2025 and December 29, 2024, respectively

85,062,439 and 84,854,768 shares issued and outstanding as of June 29, 2025 and December 29, 2024, respectively

Additional paid-in capital 1,250,403 1,273,288

9 unchanged sentences

(IN THOUSANDS, EXCEPT PER SHARE DATA, UNAUDITED)

THIRTEEN WEEKS ENDED

MARCH 30, 2025 MARCH 31, 2024

THIRTEEN WEEKS ENDED TWENTY-SIX WEEKS ENDED

JUNE 29, 2025 JUNE 30, 2024 JUNE 29, 2025 JUNE 30, 2024

Restaurant sales $ 984,771 $ 977,779 $ 2,014,288 $ 2,024,469

12 unchanged sentences

Interest expense, net ( 10,699 ) ( 15,296 ) ( 21,886 ) ( 28,972 )

Income (loss) before provision for income taxes 46,044 ( 78,556 )

Provision for income taxes 903 6,642

Income (loss) before (benefit) provision for income taxes 18,951 28,756 64,995 ( 49,800 )

(Benefit) provision for income taxes ( 8,748 ) 2,780 ( 7,845 ) 9,422

Loss from equity method investment, net of tax ( 1,806 ) — ( 3,097 ) —

Net income (loss) from continuing operations 25,893 25,976 69,743 ( 59,222 )

Net (loss) income from discontinued operations, net of tax ( 254 ) 2,908

Net income from discontinued operations, net of tax 779 3,655 525 6,563

Net income (loss) 26,672 29,631 70,268 ( 52,659 )

6 unchanged sentences

Reclassification of foreign currency translation adjustments into earnings due to sale of business — — 217,548 —

Net (loss) gain on derivatives, net of tax ( 177 ) 1,157

Net gain on derivatives, net of tax 290 330 113 1,487

Comprehensive income (loss) 28,693 20,103 287,307 ( 62,961 )

19 unchanged sentences

ULATED DEFICIT ACCUMULATED OTHER

COMPREHENSIVE INCOME NON-CONTROLLING INTERESTS TOTAL

COMPREHENSIVE INCOME (LOSS) NON-CONTROLLING INTERESTS TOTAL

SHARES AMOUNT

March 30, 2025 84,987 $ 850 $ 1,261,204 $ ( 883,682 ) $ 2,225 $ 4,253 $ 384,850

Net income — — — 25,419 — 1,253 26,672

Other comprehensive income, net of tax — — — — 2,021 — 2,021

Cash dividends declared, $ 0.15 per common share

— — ( 12,759 ) — — — ( 12,759 )

Stock-based compensation — — 2,403 — — — 2,403

Common stock issued under stock plans (1) 75 1 ( 46 ) — — — ( 45 )

Distributions to noncontrolling interests — — — — — ( 1,651 ) ( 1,651 )

Contributions from noncontrolling interests — — — — — 202 202

Retirement of warrants — — ( 399 ) — — — ( 399 )

June 29, 2025 85,062 $ 851 $ 1,250,403 $ ( 858,263 ) $ 4,246 $ 4,057 $ 401,294

December 29, 2024 84,855 $ 849 $ 1,273,288 $ ( 925,834 ) $ ( 212,793 ) $ 3,936 $ 139,446

7 unchanged sentences

Contributions from noncontrolling interests — — — — — 875 875

March 30, 2025 84,987 $ 850 $ 1,261,204 $ ( 883,682 ) $ 2,225 $ 4,253 $ 384,850

Retirement of warrants — — ( 399 ) — — — ( 399 )

June 29, 2025 85,062 $ 851 $ 1,250,403 $ ( 858,263 ) $ 4,246 $ 4,057 $ 401,294

(CONTINUED...)

BLOOMIN’ BRANDS, INC.

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY

(IN THOUSANDS, EXCEPT PER SHARE DATA, UNAUDITED)

BLOOMIN’ BRANDS, INC.

COMMON STOCK ADDITIONAL PAID-IN CAPITAL ACCUM-

2 unchanged sentences

SHARES AMOUNT

March 31, 2024 87,811 $ 878 $ 1,290,765 $ ( 809,880 ) $ ( 179,078 ) $ 2,750 $ 305,435

Net income — — — 28,403 — 1,228 29,631

Other comprehensive loss, net of tax — — — — ( 9,528 ) — ( 9,528 )

Cash dividends declared, $ 0.24 per common share

— — ( 20,762 ) — — — ( 20,762 )

Repurchase and retirement of common stock, including excise tax of $ 151

( 2,156 ) ( 21 ) 38,319 ( 53,449 ) — — ( 15,151 )

Stock-based compensation — — 483 — — — 483

Common stock issued under stock plans (1) 121 1 677 — — — 678

Distributions to noncontrolling interests — — — — — ( 1,431 ) ( 1,431 )

Contributions from noncontrolling interests — — — — — 338 338

June 30, 2024 85,776 $ 858 $ 1,309,482 $ ( 834,926 ) $ ( 188,606 ) $ 2,885 $ 289,693

December 31, 2023 86,969 $ 870 $ 1,115,387 $ ( 528,831 ) $ ( 178,304 ) $ 2,881 $ 412,003

3 unchanged sentences

— — ( 41,837 ) — — — ( 41,837 )

Repurchase and retirement of common stock ( 6,948 ) ( 69 ) ( 44,000 ) ( 188,834 ) — — ( 232,903 )

Repurchase and retirement of common stock, including excise tax of $ 151

( 9,104 ) ( 90 ) ( 5,681 ) ( 242,283 ) — — ( 248,054 )

Stock-based compensation — — 2,931 — — — 2,931

5 unchanged sentences

Retirement of warrants — — ( 102,213 ) — — — ( 102,213 )

March 31, 2024 87,811 $ 878 $ 1,290,765 $ ( 809,880 ) $ ( 179,078 ) $ 2,750 $ 305,435

June 30, 2024 85,776 $ 858 $ 1,309,482 $ ( 834,926 ) $ ( 188,606 ) $ 2,885 $ 289,693

________________

4 unchanged sentences

(DOLLARS IN THOUSANDS, UNAUDITED)

THIRTEEN WEEKS ENDED

MARCH 30, 2025 MARCH 31, 2024

TWENTY-SIX WEEKS ENDED

JUNE 29, 2025 JUNE 30, 2024

Cash flows provided by operating activities:

Net income (loss) $ 70,268 $ ( 52,659 )

Net (loss) income from discontinued operations, net of tax ( 254 ) 2,908

Net income from discontinued operations, net of tax 525 6,563

Net income (loss) from continuing operations 69,743 ( 59,222 )

5 unchanged sentences

Stock-based compensation expense 3,632 2,931

Deferred income tax expense 2,292 1,077

Deferred income tax expense (benefit) 1,055 ( 7,259 )

Loss on extinguishment of debt — 135,797

2 unchanged sentences

Foreign currency translation gain on installment receivable from sale of business ( 14,152 ) —

Interest income on installment receivable from sale of business ( 3,420 ) —

Other, net ( 1,122 ) ( 2,072 )

3 unchanged sentences

Net cash provided by operating activities $ 123,128 $ 116,192

Cash flows provided by (used in) investing activities:

Cash flows used in investing activities:

Capital expenditures $ ( 84,297 ) $ ( 108,242 )

4 unchanged sentences

Net cash used in investing activities of discontinued operations ( 1,623 ) ( 23,262 )

Net cash provided by (used in) investing activities $ 39,733 $ ( 64,585 )

Net cash used in investing activities $ ( 1,203 ) $ ( 131,218 )

(CONTINUED...)

2 unchanged sentences

(DOLLARS IN THOUSANDS, UNAUDITED)

THIRTEEN WEEKS ENDED

MARCH 30, 2025 MARCH 31, 2024

TWENTY-SIX WEEKS ENDED

JUNE 29, 2025 JUNE 30, 2024

Cash flows (used in) provided by financing activities:

1 unchanged sentence

Repayments of borrowings on revolving credit facilities ( 860,000 ) ( 556,000 )

Repayments of long-term debt and finance lease obligations ( 636 ) ( 440 )

Repayments of finance lease obligations ( 1,348 ) ( 882 )

Principal settlements and repurchase of convertible senior notes ( 20,724 ) ( 2,335 )

17 unchanged sentences

Cash paid for income taxes, net of refunds $ 22,288 $ 14,913

Supplemental disclosures of non-cash investing and financing activities:

Supplemental disclosures of non-cash activities:

Leased assets obtained in exchange for new operating lease liabilities $ 42,892 $ 47,846

34 unchanged sentences

Reclassifications - The Company reclassified certain immaterial amounts in prior period financial statements to conform to the current period’s presentation.

These reclassifications had no effect on previously reported net income.

These reclassifications had no effect on previously reported Net income (loss).

Discontinued Operations

5 unchanged sentences

(UNAUDITED) - Continued

The aggregate consideration paid to the Seller consists of 67 % of the enterprise valuation of the Disposal Group in the amount of R$ 2.06 billion Brazilian Reais, which equals R$ 1.4 billion Brazilian Reais (approximately $ 225.3 million in U.S.

The aggregate consideration paid to the Seller consisted of 67 % of the enterprise valuation of the Disposal Group in the amount of R$ 2.06 billion Brazilian Reais, which equaled R$ 1.4 billion Brazilian Reais (approximately $ 225.3 million in U.S.

Dollars based on the exchange rate on the Closing Date), subject to customary adjustments, and withholding for Brazilian taxes (the “Purchase Price”).

3 unchanged sentences

The second installment payment, representing 48 % of the Purchase Price, is due on the first anniversary of the Closing Date (based on the exchange rate on the date of payment) and will generate interest income based on the interbank deposit rate in Brazil until paid.

During the thirteen weeks ended March 30, 2025 the Company recorded a pretax gain on the sale of the Disposal Group of $ 2.9 million within Net (loss) income from discontinued operations, net of tax in its Consolidated Statements of Operations and Comprehensive Income (Loss).

The sale represents a strategic shift to a primarily franchised model for the Company’s international operations.

The assets and liabilities of the Disposal Group were classified as held for sale on the Company’s Consolidated Balance Sheet as of December 29, 2024.

For the thirteen weeks ended March 30, 2025 and March 31, 2024, all sales, direct costs and expenses and income taxes attributable to restaurants classified as discontinued operations have been aggregated to a single caption titled (Loss) income from discontinued operations, net of tax in the Company’s Consolidated Statements of Operations and Comprehensive Income (Loss) for all periods presented.

For the thirteen and twenty-six weeks ended June 29, 2025 and June 30, 2024, all sales, direct costs and expenses and income taxes attributable to restaurants classified as discontinued operations have been aggregated to a single caption titled Net income from discontinued operations, net of tax in the Company’s Consolidated Statements of Operations and Comprehensive Income (Loss) for all periods presented.

As of the Closing Date, the fair value of the Company’s retained interest was $ 59.9 million based on the proportional enterprise valuation of the Disposal Group, adjusted for debt used by the Buyer to fund a portion of the Purchase Price and to be pushed down to the operating entity subsequent to the second installment payment.

See Note 3 - Equity Method Investment for additional details regarding the Company’s retained interest in its Brazil operations.

(Loss) income from discontinued operations, net of tax , in the Company’s Consolidated Statements of Operations and Comprehensive Income (Loss) includes the following for the periods indicated:

THIRTEEN WEEKS ENDED

(dollars in thousands) MARCH 30, 2025 MARCH 31, 2024

Net income from discontinued operations, net of tax , in the Company’s Consolidated Statements of Operations and Comprehensive Income (Loss) includes the following for the periods indicated:

THIRTEEN WEEKS ENDED TWENTY-SIX WEEKS ENDED

(dollars in thousands) JUNE 29, 2025 JUNE 30, 2024 JUNE 29, 2025 JUNE 30, 2024

Revenues $ — $ 125,799 $ — $ 258,609

Operating costs and expenses

— 123,226 — 249,800

Gain on sale of Brazil business (1)

1,672 — 4,575 —

Income from operations 1,672 2,573 4,575 8,809

Provision for income taxes

(Loss) income from discontinued operations, net of tax $ ( 254 ) $ 2,908

Provision (benefit) for income taxes 893 ( 1,082 ) 4,050 2,246

Net income from discontinued operations, net of tax $ 779 $ 3,655 $ 525 $ 6,563

____________________

(1) Includes $ 1.6 million of foreign currency translation gains on contingent consideration assets and indemnification liabilities, as discussed below.

Contingent Consideration Assets and Indemnification Liabilities - During the thirteen weeks ended March 30, 2025 , the Company recognized contingent consideration assets of $ 29.3 million and indemnification liabilities of $ 6.9 million within Other assets, net and Other long-term liabilities, net, respectively, on the Company’s Consolidated Balance Sheet in connection with the Brazil Sale Transaction.

As of March 30, 2025, the Company’s balance of contingent consideration assets and indemnification liabilities, which are denominated in Brazilian Reais, increased to $ 31.5 million and $ 7.5 million, respectively, as a result of fluctuations in foreign exchange rates.

All future activity related to contingent consideration assets and indemnification liabilities, including foreign exchange gains and losses, will also be reflected in discontinued operations.

(1) The thirteen and twenty-six weeks ended June 29, 2025 i nclude $ 1.3 million and $ 2.9 million, respectively, of net foreign currency translation gains on contingent consideration assets and indemnification liabilities, as discussed below.

Contingent Consideration Assets and Indemnification Liabilities - On the Closing Date , the Company recognized contingent consideration assets of $ 29.3 million, primarily judicial deposits, and indemnification liabilities of $ 6.9 million, primarily labor and tax exposures, within Other assets, net and Other long-term liabilities, net, respectively, on the Company’s Consolidated Balance Sheet in connection with the Brazil Sale Transaction.

As of June 29, 2025, the Company’s balance of contingent consideration assets and indemnification liabilities, which are denominated in Brazilian Reais, increased to $ 33.1 million and $ 7.8 million, respectively, as a result of fluctuations in foreign exchange rates.

All post-closing adjustments related to contingent consideration assets and indemnification liabilities will be reflected in discontinued operations.

BLOOMIN’ BRANDS, INC.

2 unchanged sentences

Equity Method Investment

Subsequent to the Brazil Sale Transaction, the Company retained a 33 % interest in the franchisee of the Company’s restaurants in Brazil, which is accounted for using the equity method of accounting.

The Company retained a 33 % interest in the franchisee of the Company’s restaurants in Brazil subsequent to the sale, which is accounted for using the equity method of accounting.

To ensure timely reporting, the Company records the results of the equity method investment in Brazil on a calendar basis one-month lag.

As of March 30, 2025, the carrying value of the Company’s equity method investment was $ 61.8 million and is recorded in Equity method investment on its Consolidated Balance Sheet.

The Company’s proportionate share of net loss from its equity interest was $ 1.3 million for the quarter ended March 30, 2025 and is recorded within Loss from equity method investment, net of tax in the Consolidated Statements of Operations and Comprehensive Income (Loss).

As of June 29, 2025, the carrying value of the Company’s equity method investment was $ 61.7 million and is recorded in Equity method investment on its Consolidated Balance Sheet.

The Company’s proportionate share of net loss from its equity interest was $ 1.8 million and $ 3.1 million for the thirteen and twenty-six weeks ended June 29, 2025, respectively, and is recorded within Loss from equity method investment, net of tax in the Consolidated Statements of Operations and Comprehensive Income (Loss).

Revenue Recognition

The following table includes the disaggregation of Restaurant sales and franchise revenues by restaurant concept and segment for the periods indicated:

The following tables include the disaggregation of Restaurant sales and franchise revenues by restaurant concept and segment for the periods indicated:

THIRTEEN WEEKS ENDED

MARCH 30, 2025 MARCH 31, 2024

JUNE 29, 2025 JUNE 30, 2024

(dollars in thousands) RESTAURANT SALES FRANCHISE REVENUES RESTAURANT SALES FRANCHISE REVENUES

8 unchanged sentences

Total $ 984,771 $ 15,523 $ 977,779 $ 18,418

TWENTY-SIX WEEKS ENDED

JUNE 29, 2025 JUNE 30, 2024

(dollars in thousands) RESTAURANT SALES FRANCHISE REVENUES RESTAURANT SALES FRANCHISE REVENUES

Outback Steakhouse $ 1,169,378 $ 15,969 $ 1,166,517 $ 16,396

Carrabba’s Italian Grill 365,471 1,235 359,005 1,488

Bonefish Grill 262,662 193 278,782 288

Fleming’s Prime Steakhouse & Wine Bar 197,914 — 184,552 —

Other — — 4,128 56

total 1,995,425 17,397 1,992,984 18,228

International Franchise (1) — 16,334 — 19,556

Other (2) 18,863 32 31,485 —

Total $ 2,014,288 $ 33,763 $ 2,024,469 $ 37,784

________________

(1) T he thirteen weeks ended March 30, 2025 include intercompany royalties from Brazil prior to the sale and royalties from Brazil after the sale.

(2) Includes Restaurant sales for Company-owned restaurants in Hong Kong and China.

(1) Includes intercompany royalties from Brazil prior to the sale and royalties from Brazil after the sale.

(2) Includes Restaurant sales for Company-owned restaurants in Hong Kong.

BLOOMIN’ BRANDS, INC.

2 unchanged sentences

The following table includes a detail of assets and liabilities from contracts with customers included on the Company’s Consolidated Balance Sheets as of the periods indicated:

(dollars in thousands) MARCH 30, 2025 DECEMBER 29, 2024

(dollars in thousands) JUNE 29, 2025 DECEMBER 29, 2024

Other current assets, net

9 unchanged sentences

The following table is a rollforward of deferred gift card sales commissions for the periods indicated:

THIRTEEN WEEKS ENDED

(dollars in thousands) MARCH 30, 2025 MARCH 31, 2024

THIRTEEN WEEKS ENDED TWENTY-SIX WEEKS ENDED

(dollars in thousands) JUNE 29, 2025 JUNE 30, 2024 JUNE 29, 2025 JUNE 30, 2024

Balance, beginning of the period $ 13,127 $ 13,520 $ 16,935 $ 18,081

4 unchanged sentences

The following table is a rollforward of unearned gift card revenue for the periods indicated:

THIRTEEN WEEKS ENDED

(dollars in thousands) MARCH 30, 2025 MARCH 31, 2024

THIRTEEN WEEKS ENDED TWENTY-SIX WEEKS ENDED

(dollars in thousands) JUNE 29, 2025 JUNE 30, 2024 JUNE 29, 2025 JUNE 30, 2024

Balance, beginning of the period $ 308,738 $ 310,634 $ 366,059 $ 372,551

7 unchanged sentences

Impairments and Exit Costs

The components of Provision for impaired assets and restaurant closings are as follows for the period indicated:

THIRTEEN WEEKS ENDED

(dollars in thousands) MARCH 31, 2024

The components of Provision for impaired assets and restaurant closings are as follows for the periods indicated:

THIRTEEN WEEKS ENDED TWENTY-SIX WEEKS ENDED

(dollars in thousands) JUNE 29, 2025 JUNE 30, 2024 JUNE 29, 2025 JUNE 30, 2024

Impairment losses

$ 5,680 $ — $ 6,266 $ 1,852

Other — 12,471 — 12,471

Total impairment losses $ 5,680 $ 12,471 $ 6,266 $ 14,323

Restaurant closure charges

Total restaurant closure charges 9,021

Restaurant closure (benefits) charges

$ ( 3,726 ) $ 2,135 $ ( 3,670 ) $ 11,219

Other ( 414 ) 78 ( 706 ) 15

Total restaurant closure (benefits) charges ( 4,140 ) 2,213 ( 4,376 ) 11,234

Provision for impaired assets and restaurant closings (1)

$ 1,540 $ 14,684 $ 1,890 $ 25,557

(1) Primarily related to the closure of 36 predominantly older, underperforming U.S.

________________

(1) For the thirteen and twenty-six weeks ended June 30, 2024, primarily related to the Q2 2024 decision to close nine restaurants in Hong Kong and the closure of 36 predominantly older, underperforming U.S.

restaurants (the “2023 Restaurant Closures”).

Activity for the thirteen weeks ended March 30, 2025 is immaterial.

BLOOMIN’ BRANDS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(UNAUDITED) - Continued

Earnings (Loss) Per Share

The following table presents the computation of basic and diluted earnings (loss) per share for the periods indicated:

THIRTEEN WEEKS ENDED

(in thousands, except per share data) MARCH 30, 2025 MARCH 31, 2024

THIRTEEN WEEKS ENDED TWENTY-SIX WEEKS ENDED

(in thousands, except per share data) JUNE 29, 2025 JUNE 30, 2024 JUNE 29, 2025 JUNE 30, 2024

Net income (loss) attributable to Bloomin’ Brands $ 25,419 $ 28,403 $ 67,571 $ ( 55,469 )

Net (loss) income from discontinued operations, net of tax ( 254 ) 2,908

Net income from discontinued operations, net of tax 779 3,655 525 6,563

Net income (loss) attributable to Bloomin’ Brands from continuing operations $ 24,640 $ 24,748 $ 67,046 $ ( 62,032 )

2 unchanged sentences

Stock-based compensation awards 99 290 151 —

Convertible senior notes (1) — 1,005 13 —

Warrants (1) — 649 — —

Diluted weighted average common shares outstanding 85,140 88,632 85,135 86,856

8 unchanged sentences

Antidilutive stock-based compensation awards 1,754 998 1,953 1,193

Antidilutive convertible senior notes and warrants (2) 1,682 — 1,835 4,554

________________

(1) During the thirteen weeks ended June 29, 2025, the 2025 Notes matured and were settled in cash and the proportional warrants were terminated.

See Note 9 - Convertible Senior Notes for additional details.

(2) For the thirteen and twenty-six weeks ended June 29, 2025, the Company’s share price was lower than the conversion and strike price related to the 2025 Notes and related warrants, respectively, which resulted in antidilutive shares.

For the twenty-six weeks ended June 30, 2024, as a result of the loss from continuing operations, securities are classified as antidilutive.

BLOOMIN’ BRANDS, INC.

10 unchanged sentences

Forfeited ( 176 ) ( 154 ) $ 27.53 $ 21.53

Outstanding as of March 30, 2025 633 1,458 $ 18.12 $ 13.06 $ 4,692 $ 10,801

Expected to vest as of March 30, 2025 (4) 312 1,458 $ 2,309 $ 10,801

Outstanding as of June 29, 2025 629 1,546 $ 18.13 $ 11.75 $ 5,445 $ 13,387

Expected to vest as of June 29, 2025 (4) 309 1,546 $ 2,678 $ 13,387

________________

(1) Based on the $ 12.27 and $ 7.41 share price of the Company’s common stock on December 27, 2024 and March 28, 2025, the last trading day of the year ended December 29, 2024 and thirteen weeks ended March 30, 2025, respectively.

(1) Based on the $ 12.27 and $ 8.66 share price of the Company’s common stock on December 27, 2024 and June 27, 2025, the last trading day of the year ended December 29, 2024 and the twenty-six weeks ended June 29, 2025, respectively.

(2) The weighted average dividend yield was 6.40 % and 6.60 % for PSUs and RSUs, respectively.

For PSU’s, a new performance structure was used for grants beginning in 2025.

The new structure contains separate performance goals that are set at the beginning of each of the three annual performance periods and cliff vest after three years .

For PSUs, a new performance structure was used for grants beginning in 2025.

The new structure contains separate performance goals that are set at the beginning of each of the three annual performance periods and units earned based on performance will cliff vest after three years .

(3) Represents adjustment to 0 % payout for PSUs granted during 2022.

(4) For PSUs, estimated number of units to be issued upon the vesting of outstanding PSUs based on Company performance projections of performance criteria set forth in the 2023, 2024 and 2025 PSU award agreements.

The following represents unrecognized stock-based compensation expense and the remaining weighted average recognition period as of March 30, 2025:

(4) For PSUs, the estimated number of units to be issued upon the vesting of outstanding PSUs is based on Company performance projections of performance criteria set forth in the 2023, 2024 and 2025 PSU award agreements.

The following represents unrecognized stock-based compensation expense and the remaining weighted average recognition period as of June 29, 2025:

UNRECOGNIZED COMPENSATION EXPENSE

4 unchanged sentences

Other current assets, net , consisted of the following as of the periods indicated:

(dollars in thousands) MARCH 30, 2025 DECEMBER 29, 2024

(dollars in thousands) JUNE 29, 2025 DECEMBER 29, 2024

Prepaid expenses $ 27,083 $ 23,102

10 unchanged sentences

(UNAUDITED) - Continued

Goodwill and Intangible Assets - The Company performs its annual assessment for impairment of goodwill and other indefinite-lived intangible assets during its second fiscal quarter.

During the thirteen weeks ended June 29, 2025, the Company performed a quantitative impairment analysis due to the recent decline in the Company’s market capitalization, while its 2024 assessment was qualitative.

In connection with these assessments, the Company did no t record any impairment charges.

The goodwill analysis indicated that all reporting units had fair values that exceeded their carrying values.

However, the Outback Steakhouse and Bonefish Grill reporting units had fair values that decreased to approximately 10 % above their respective carrying values.

The fair values for the Outback Steakhouse and Bonefish Grill reporting units decreased primarily due to lower cash flow estimates, increased discount rates, lower market multiples, and additionally for Bonefish Grill, a lower long-term growth rate, compared to the last quantitative impairment analysis performed during the quarter ended June 25, 2023.

The quantitative impairment analysis for indefinite-lived intangible assets indicated that all trade names had fair values exceeding their carrying values;

however, the Outback Steakhouse trade name’s fair value decreased to approximately 15 % above its carrying value.

Similar to the goodwill analysis, the fair value of the Outback Steakhouse trade name decreased primarily due to lower projected system-wide sales and an increased discount rate.

Fair value determinations require considerable judgement and are sensitive to changes in underlying assumptions, estimates and market factors.

Key assumptions include cash flow estimates (including sales and operating profit), long-term growth rates, discount rates, royalty rates, market multiples and other market factors.

Sales declines, unplanned increases in commodity or labor costs, decreases to the market multiples, increases in discount rates, deterioration in overall economic conditions and challenges in the restaurant industry or any such event may impact the Company’s fair value determinations and may result in future impairment charges.

It is possible that changes in circumstances or changes in assumptions and estimates could result in impairment of the Company’s goodwill or other intangible assets.

Further, as a result of the decreased fair values, the Outback Steakhouse and Bonefish Grill reporting units and the Outback Steakhouse trade name are at a higher risk of future impairment.

Other assets, net , consisted of the following as of the periods indicated:

(dollars in thousands) MARCH 30, 2025 DECEMBER 29, 2024

(dollars in thousands) JUNE 29, 2025 DECEMBER 29, 2024

Company-owned life insurance $ 33,341 $ 31,971

5 unchanged sentences

________________

(1) Net of accumulated amortization of $ 1.2 million and $ 0.6 million as of March 30, 2025 and December 29, 2024, respectively.

(1) Net of accumulated amortization of $ 1.8 million and $ 0.6 million as of June 29, 2025 and December 29, 2024, respectively.

Accrued and other current liabilities consisted of the following as of the periods indicated:

(dollars in thousands) MARCH 30, 2025 DECEMBER 29, 2024

(dollars in thousands) JUNE 29, 2025 DECEMBER 29, 2024

Accrued payroll and other compensation $ 55,951 $ 64,522

2 unchanged sentences

$ 163,752 $ 178,314

BLOOMIN’ BRANDS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(UNAUDITED) - Continued

Other long-term liabilities, net , consisted of the following as of the periods indicated:

(dollars in thousands) MARCH 30, 2025 DECEMBER 29, 2024

(dollars in thousands) JUNE 29, 2025 DECEMBER 29, 2024

Accrued insurance $ 37,837 $ 33,519

6 unchanged sentences

Long-term debt, net , consisted of the following as of the periods indicated:

MARCH 30, 2025 DECEMBER 29, 2024

JUNE 29, 2025 DECEMBER 29, 2024

(dollars in thousands) OUTSTANDING BALANCE INTEREST RATE OUTSTANDING BALANCE INTEREST RATE

7 unchanged sentences

(1) Interest rate represents the weighted average interest rate as of the respective periods.

(2) Obligations under the 2025 Notes, which matured on May 1, 2025, have been classified as long-term, reflecting the Company’s intent and ability to refinance these notes through borrowings on its existing revolving credit facility.

(2) On May 1, 2025, the 2025 Notes were settled primarily using borrowings from the revolving credit facility.

Debt Covenants - As of March 30, 2025 and December 29, 2024, the Company was in compliance with its debt c ovenants.

Debt Covenants - As of June 29, 2025 and December 29, 2024, the Company was in compliance with its debt c ovenants.

BLOOMIN’ BRANDS, INC.

2 unchanged sentences

Convertible Senior Notes

The following table includes the outstanding principal amount and carrying value of the Company’s remaining 5.00 % convertible senior notes due in 2025 (the “2025 Notes”) as of the periods indicated:

(dollars in thousands) MARCH 30, 2025 DECEMBER 29, 2024

The Company’s 5.00 % convertible senior notes due in 2025 (the “2025 Notes”) matured on May 1, 2025, and were settled in cash for $ 20.7 million, excluding accrued interest.

In connection with the maturity of the 2025 Notes, the related convertible note hedges entered into with certain purchasers of the 2025 Notes and/or their respective affiliates and other financial institutions expired.

On May 16, 2025, the Company terminated the remaining proportional warrants in cash for $ 0.4 million.

The following table includes the outstanding principal amount and carrying value of the 2025 Notes as of the period indicated:

(dollars in thousands) DECEMBER 29, 2024

Principal $ 20,724

2 unchanged sentences

Following is a summary of interest expense for the 2025 Notes by component for the periods indicated:

THIRTEEN WEEKS ENDED

(dollars in thousands) MARCH 30, 2025 MARCH 31, 2024

THIRTEEN WEEKS ENDED TWENTY-SIX WEEKS ENDED

(dollars in thousands) JUNE 29, 2025 JUNE 30, 2024 JUNE 29, 2025 JUNE 30, 2024

Coupon interest $ 86 $ 259 $ 345 $ 1,265

2 unchanged sentences

________________

(1) The effective rate of the 2025 Notes over their expected life is 5.85 %.

The 2025 Notes matured on May 1, 2025, and were settled in cash for $ 20.7 million, excluding accrued interest.

The warrants remain proportional to the 2025 Notes that matured May 1, 2025 and have a dilutive effect on the Company’s common stock to the extent that the price of its common stock exceeds the strike price of the warrants.

The warrants expire on various dates following the maturity of the 2025 Notes through November 21, 2025, unless the Company terminates the warrants prior to their scheduled expiration.

In connection with dividends paid during thirteen weeks ended March 30, 2025, the strike price for the remaining warrants decreased to $ 14.60 .

(1) The effective rate of the 2025 Notes was 5.85 %.

Stockholders’ Equity

Share Repurchases - In February 2024, the Company’s Board of Directors (the “Board”) approved a $ 350.0 million share repurchase authorization (the “2024 Share Repurchase Program”).

As of March 30, 2025, $ 96.8 million remained available for repurchase.

Dividends - The Company declared and paid dividends per share during fiscal year 2025 as follows:

1 unchanged sentence

First fiscal quarter $ 0.15 $ 12,747

In April 2025, the Board declared a quarterly cash dividend of $ 0.15 per share, payable on June 4, 2025 to shareholders of record at the close of business on May 20, 2025.

Second fiscal quarter 0.15 12,759

Total cash dividends declared and paid $ 0.30 $ 25,506

In July 2025, the Company’s Board of directors (the “Board”) declared a quarterly cash dividend of $ 0.15 per share, payable on September 3, 2025 to shareholders of record at the close of business on August 19, 2025.

BLOOMIN’ BRANDS, INC.

2 unchanged sentences

Accumulated Other Comprehensive Income (Loss) - The following table is a rollforward of the components of Accumulated Other Comprehensive Income (Loss) for the periods indicated:

THIRTEEN WEEKS ENDED

(dollars in thousands) MARCH 30, 2025 MARCH 31, 2024

THIRTEEN WEEKS ENDED TWENTY-SIX WEEKS ENDED

(dollars in thousands) JUNE 29, 2025 JUNE 30, 2024 JUNE 29, 2025 JUNE 30, 2024

Foreign currency translation:

15 unchanged sentences

____________________

(1) Represents foreign currency translation adjustments primarily related to the Company’s equity method investment.

(1) For the thirteen and twenty-six weeks ended June 29, 2025, represents foreign currency translation adjustments primarily related to the Company’s equity method investment.

Derivative Instruments and Hedging Activities

15 unchanged sentences

The following table presents the fair value and classification of the Company’s swap agreements as of the periods indicated:

(dollars in thousands) CONSOLIDATED BALANCE SHEETS CLASSIFICATION MARCH 30, 2025 DECEMBER 29, 2024

(dollars in thousands) CONSOLIDATED BALANCE SHEETS CLASSIFICATION JUNE 29, 2025 DECEMBER 29, 2024

Interest rate swaps - liability Accrued and other current liabilities $ 683 $ 579

6 unchanged sentences

The Company continually assesses the creditworthiness of its counterparties.

As of March 30, 2025, all counterparties to the Swap Transactions performed in accordance with their contractual obligations.

As of March 30, 2025 and December 29, 2024, the fair value of the Company’s Swap Transactions was in a net liability position, including accrued interest but excluding any adjustment for nonperformance risk, of $ 1.1 million and $ 0.8 million, respectively.

As of March 30, 2025 and December 29, 2024, the Company has not posted any collateral related to the Swap Transactions.

As of June 29, 2025, all counterparties to the Swap Transactions performed in accordance with their contractual obligations.

The Swap Transactions contain provisions whereby the Company could be declared in default on its derivative obligations if the repayment of the underlying indebtedness is accelerated by the lender due to the Company’s default on indebtedness.

If the Company had breached any of these provisions as of March 30, 2025 and December 29, 2024, it could have been required to settle its obligations under the Swap Transactions at their termination value of $ 1.1 million and $ 0.8 million, respectively.

If the Company had breached any of these provisions as of June 29, 2025 and December 29, 2024, it could have been required to settle its obligations under the Swap Transactions at their termination value of $ 0.7 million and $ 0.8 million, respectively.

As of June 29, 2025 and December 29, 2024, the Company has not posted any collateral related to the Swap Transactions.

Non-Designated Hedges

During the fourth quarter of 2024, the Company entered into foreign currency forward contracts to partially offset the foreign currency exchange gains and losses generated by the Brazilian Reais rate risk associated with the purchase price installment payments from the Brazil Sale Transaction.

As of March 30, 2025, the Company had R$ 697.0 million Brazilian Reais (approximately $ 120.2 million U.S.

As of June 29, 2025, the Company had R$ 720.0 million Brazilian Reais (approximately $ 130.6 million U.S.

Dollars) of outstanding notional amounts related to its foreign currency forward contracts.

The liability and asset related to the foreign exchange forward contracts as of March 30, 2025 and December 29, 2024 are not material.

As of March 30, 2025 and December 29, 2024, the Company has not posted any collateral related to the foreign currency forward contracts.

The followin g table summarizes the effects of the Company’s foreign exchange forward contracts on the Consolidated Statements of Operations and Comprehensive Income (Loss) for the period indicated:

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) CLASSIFICATION THIRTEEN WEEKS ENDED

(dollars in thousands) MARCH 30, 2025

The asset related to the foreign exchange forward contracts as of June 29, 2025 and December 29, 2024 is not material as they are short term and typically mature monthly.

As of June 29, 2025 and December 29, 2024, the Company has not posted any collateral related to the foreign currency forward contracts.

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) CLASSIFICATION THIRTEEN WEEKS ENDED TWENTY-SIX WEEKS ENDED

(dollars in thousands) JUNE 29, 2025 JUNE 29, 2025

Loss on foreign currency forward contracts (1) General and administrative $ 8,461 $ 18,711

____________________

(1) The loss on foreign currency forward contracts is materially offset by the gains on foreign currency exchange related to the installment receivable from the Brazil Sale Transaction.

(1) The loss on foreign currency forward contracts is materially offset within General and administrative expense by the gains on foreign currency exchange related to the installment receivable from the Brazil Sale Transaction.

The Company’s interest rate swaps and foreign currency forward contracts are subject to master netting arrangements.

As of March 30, 2025, the Company elected not to offset derivative positions in the balance sheet with the same counterparty under the same agreement.

As of June 29, 2025, the Company elected not to offset derivative positions in its Consolidated Balance Sheet with the same counterparty under the same agreement.

BLOOMIN’ BRANDS, INC.

2 unchanged sentences

The following table includes a detail of lease assets and liabilities included on the Company’s Consolidated Balance Sheets as of the periods indicated:

(dollars in thousands) CONSOLIDATED BALANCE SHEETS CLASSIFICATION MARCH 30, 2025 DECEMBER 29, 2024

(dollars in thousands) CONSOLIDATED BALANCE SHEETS CLASSIFICATION JUNE 29, 2025 DECEMBER 29, 2024

Operating lease right-of-use assets Operating lease right-of-use assets $ 1,015,518 $ 1,012,857

7 unchanged sentences

________________

(1) Net of accumulated amortization of $ 4.7 million and $ 4.0 million as of March 30, 2025 and December 29, 2024, respectively.

(1) Net of accumulated amortization of $ 5.3 million and $ 4.0 million as of June 29, 2025 and December 29, 2024, respectively.

Following is a summary of expenses and income related to leases recognized in the Company’s Consolidated Statements of Operations and Comprehensive Income (Loss) for the periods indicated:

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) CLASSIFICATION THIRTEEN WEEKS ENDED

(dollars in thousands) MARCH 30, 2025 MARCH 31, 2024

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) CLASSIFICATION THIRTEEN WEEKS ENDED TWENTY-SIX WEEKS ENDED

(dollars in thousands) JUNE 29, 2025 JUNE 30, 2024 JUNE 29, 2025 JUNE 30, 2024

Operating lease cost (1) Other restaurant operating $ 42,623 $ 42,364 $ 84,928 $ 85,296

6 unchanged sentences

________________

(1) Excludes rent expense for office facilities and Company-owned closed or subleased properties of $ 3.6 million and $ 3.4 million for the thirteen weeks ended March 30, 2025 and March 31, 2024, respectively, which is included in General and administrative expense.

(1) Excludes rent expense for office facilities and closed or subleased properties of $ 3.4 million and $ 3.6 million for the thirteen weeks ended June 29, 2025 and June 30, 2024, respectively, and $ 7.0 million for the twenty-six weeks ended June 29, 2025 and June 30, 2024, which is included in General and administrative expense.

The following table is a summary of cash flow impacts to the Company’s Consolidated Financial Statements related to its leases for the periods indicated:

THIRTEEN WEEKS ENDED

(dollars in thousands) MARCH 30, 2025 MARCH 31, 2024

TWENTY-SIX WEEKS ENDED

(dollars in thousands) JUNE 29, 2025 JUNE 30, 2024

Cash flows from operating activities:

12 unchanged sentences

MEASUREMENT LEVEL FAIR VALUE

(dollars in thousands) MARCH 30, 2025 DECEMBER 29, 2024

(dollars in thousands) JUNE 29, 2025 DECEMBER 29, 2024

Short-term investments Cash and cash equivalents Level 1 $ 5,026 $ 11,868

1 unchanged sentence

Interest rate swaps Accrued and other current liabilities Level 2 $ 683 $ 579

Foreign currency forward contracts Other current liabilities, net Level 2 $ 192 $ —

Interest rate swaps Other long-term liabilities Level 2 $ — $ 255

8 unchanged sentences

The Company also considers its own nonperformance risk and the respective counterparty’s nonperformance risk in the fair value measurements.

As of March 30, 2025 and December 29, 2024, the Company determined that the credit valuation adjustments were not significant to the overall valuation of its derivatives.

As of June 29, 2025 and December 29, 2024, the Company determined that the credit valuation adjustments were not significant to the overall valuation of its derivatives.

Interim Disclosures about Fair Value of Financial Instruments - The Company’s non-derivative financial instruments consist of cash equivalents, accounts receivable, accounts payable and long-term debt.

The fair values of cash equivalents, accounts receivable and accounts payable approximate their carrying amounts reported on the Company’s Consolidated Balance Sheets due to their short duration.

The fair values of cash equivalents, accounts receivable, including the second installment receivable related to the Brazil Sale Transaction, and accounts payable approximate their carrying amounts reported on the Company’s Consolidated Balance Sheets due to their short duration.

BLOOMIN’ BRANDS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(UNAUDITED) - Continued

Debt is carried at amortized cost;

1 unchanged sentence

The following table includes the carrying value and fair value of the Company’s debt by hierarchy level as of the periods indicated:

MARCH 30, 2025 DECEMBER 29, 2024

JUNE 29, 2025 DECEMBER 29, 2024

(dollars in thousands) CARRYING VALUE FAIR VALUE LEVEL 2 CARRYING VALUE FAIR VALUE LEVEL 2

2 unchanged sentences

2029 Notes $ 300,000 $ 277,776 $ 300,000 $ 270,132

________________

(1) On May 1, 2025, the 2025 Notes matured and were settled in cash.

See Note 9 - Convertible Senior Notes for additional details.

THIRTEEN WEEKS ENDED TWENTY-SIX WEEKS ENDED

(dollars in thousands) JUNE 29, 2025 JUNE 30, 2024 JUNE 29, 2025 JUNE 30, 2024

Income (loss) before (benefit) provision for income taxes $ 18,951 $ 28,756 $ 64,995 $ ( 49,800 )

(Benefit) provision for income taxes $ ( 8,748 ) $ 2,780 $ ( 7,845 ) $ 9,422

Effective income tax rate (NM) 9.7 % ( 12.1 ) % ( 18.9 ) %

________________

NM Not meaningful.

For the thirteen weeks ended June 29, 2025 and June 30, 2024, the (benefit) provision for income taxes includes the impact of changes to the estimate of forecasted annual pre-tax book income relative to the prior quarter in each respective year and the benefit of FICA tax credits on certain tipped wages.

The effective income tax rate for the twenty-six weeks ended June 29, 2025 includes the benefit of FICA tax credits on certain tipped wages relative to forecasted annual pre-tax book income which resulted in a negative effective income tax rate.

The effective income tax rate for the twenty-six weeks ended June 30, 2024 includes the impact of the non-deductible losses associated with the repurchase of $ 83.6 million of the outstanding 2025 Notes (the “Second 2025 Notes Partial Repurchase”) recorded in the twenty-six weeks ended June 30, 2024, which, relative to a pre-tax book loss, resulted in a negative effective income tax rate.

In the U.S., a restaurant company employer may claim a credit against its federal income taxes for FICA taxes paid on certain tipped wages (the “FICA tax credit”).

The level of FICA tax credits is primarily driven by U.S.

Restaurant sales and is not impacted by costs incurred that may reduce Income (loss) before (benefit) provision for income taxes.

The effective income tax rates for the thirteen weeks ended June 29, 2025 and June 30, 2024 and the twenty-six weeks ended June 29, 2025 were lower than the Company’s blended federal and state statutory rate of approximately 26 % primarily due to the benefit of FICA tax credits on certain tipped wages.

The effective income tax rate for the twenty-six weeks ended June 30, 2024 was lower than the Company’s blended federal and state statutory rate of approximately 26 % primarily due to the impact of the non-deductible losses associated with the Second 2025 Notes Partial Repurchase partially offset by the benefit of FICA tax credits on certain tipped wages, which, relative to a pre-tax book loss, resulted in a negative effective income tax rate.

BLOOMIN’ BRANDS, INC.

1 unchanged sentence

(UNAUDITED) - Continued

THIRTEEN WEEKS ENDED

(dollars in thousands) MARCH 30, 2025 MARCH 31, 2024

Income (loss) before provision for income taxes $ 46,044 $ ( 78,556 )

Provision for income taxes $ 903 $ 6,642

Effective income tax rate 2.0 % ( 8.5 ) %

The effective income tax rate for the thirteen weeks ended March 30, 2025 increased by 10.5 percentage points as compared to the thirteen weeks ended March 31, 2024.

This increase was primarily due to impact of the non-deductible losses associated with the repurchase of $ 83.6 million of the outstanding 2025 Notes (the “Second 2025 Notes Partial Repurchase”) recorded in the thirteen weeks ended March 31, 2024 which, relative to a pre-tax book loss, resulted in a negative effective income tax rate.

The increase was partially offset by the benefit of FICA tax credits on certain employees’ tips in 2025 relative to forecasted pretax book income.

In the U.S., a restaurant company employer may claim a credit against its federal income taxes for FICA taxes paid on certain tipped wages (the “FICA tax credit”).

The level of FICA tax credits is primarily driven by U.S.

Restaurant sales and is not impacted by costs incurred that may reduce Income (loss) before provision for income taxes.

The effective income tax rate for the thirteen weeks ended March 30, 2025 was lower than the Company’s blended federal and state statutory rate of approximately 26 % primarily due to the benefit of FICA tax credits on certain tipped wages.

The effective income tax rate for the thirteen weeks ended March 31, 2024 was lower than the Company’s blended federal and state statutory rate of approximately 26 % primarily due to the impact of nondeductible losses associated with the Second 2025 Notes Partial Repurchase, partially offset by the benefit of FICA tax credits on certain tipped wages which, relative to a pre-tax book loss during the quarter, resulted in a negative effective income tax rate.

On July 4, 2025, the One Big Beautiful Bill Act (“OBBBA”) was signed into law, which enacted or modified, among other things, several business tax rules.

The Company is currently evaluating the potential impact of the OBBBA and does not anticipate it will have a material impact on the Company’s financial statements.

Commitments and Contingencies

Litigation and Other Matters - The Company recorded reserves of $ 2.2 million and $ 2.3 million for certain of its outstanding legal proceedings as of March 30, 2025 and December 29, 2024, respectively, within Accrued and other current liabilities on its Consolidated Balance Sheets.

Litigation and Other Matters - The Company recorded reserves of $ 2.1 million and $ 2.3 million for certain of its outstanding legal proceedings as of June 29, 2025 and December 29, 2024, respectively, within Accrued and other current liabilities on its Consolidated Balance Sheets.

While the Company believes that additional losses beyond these accruals are reasonably possible, it cannot estimate a possible loss contingency or range of reasonably possible loss contingencies beyond these accruals.

1 unchanged sentence

These leases have varying terms, the latest of which expires in 2032.

As of March 30, 2025, the undiscounted payments that the Company could be required to make in the event of non-payment by the primary lessees was $ 11.6 million.

The present value of these potential payments discounted at the Company’s incremental borrowing rate as of March 30, 2025 was $ 9.4 million.

As of June 29, 2025, the undiscounted payments that the Company could be required to make in the event of non-payment by the primary lessees was $ 11.3 million.

The present value of these potential payments discounted at the Company’s incremental borrowing rate as of June 29, 2025 was $ 8.7 million.

In the event of default, the indemnity clauses in the Company’s purchase and sale agreements generally govern its ability to pursue and recover damages incurred.

As of March 30, 2025 and December 29, 2024, the Company’s recorded contingent lease liability was $ 1.8 million and $ 1.6 million, respectively.

BLOOMIN’ BRANDS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(UNAUDITED) - Continued

As of June 29, 2025 and December 29, 2024, the Company’s recorded contingent lease liability was $ 1.7 million and $ 1.6 million, respectively.

Segment Reporting

15 unchanged sentences

The below segment disclosures have been recast to include amounts that relate solely to the Company’s continuing operations.

In the tables below, “other” includes amounts related to the Company’s equity method investment in Brazil and its Hong Kong subsidiary.

In the tables below, “other” includes amounts related to its Hong Kong subsidiary.

BLOOMIN’ BRANDS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(UNAUDITED) - Continued

The following table is a summary of revenues by segment for the periods indicated:

THIRTEEN WEEKS ENDED

(dollars in thousands) MARCH 30, 2025 MARCH 31, 2024

THIRTEEN WEEKS ENDED TWENTY-SIX WEEKS ENDED

(dollars in thousands) JUNE 29, 2025 JUNE 30, 2024 JUNE 29, 2025 JUNE 30, 2024

$ 985,828 $ 974,173 $ 2,016,731 $ 2,017,277

3 unchanged sentences

Total revenues $ 1,002,366 $ 999,369 $ 2,051,960 $ 2,068,442

BLOOMIN’ BRANDS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(UNAUDITED) - Continued

The following table presents segment operating income and significant segment expense information for the periods indicated:

THIRTEEN WEEKS ENDED

(dollars in thousands) MARCH 30, 2025 MARCH 31, 2024

THIRTEEN WEEKS ENDED TWENTY-SIX WEEKS ENDED

(dollars in thousands) JUNE 29, 2025 JUNE 30, 2024 JUNE 29, 2025 JUNE 30, 2024

Total revenues $ 985,828 $ 974,173 $ 2,016,731 $ 2,017,277

18 unchanged sentences

(2) Includes general and administrative expense.

The following table is a reconciliation of segment income from operations to Income (loss) before provision for income taxes for the periods indicated:

THIRTEEN WEEKS ENDED

(dollars in thousands) MARCH 30, 2025 MARCH 31, 2024

BLOOMIN’ BRANDS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(UNAUDITED) - Continued

The following table is a reconciliation of segment income from operations to Income (loss) before (benefit) provision for income taxes for the periods indicated:

THIRTEEN WEEKS ENDED TWENTY-SIX WEEKS ENDED

(dollars in thousands) JUNE 29, 2025 JUNE 30, 2024 JUNE 29, 2025 JUNE 30, 2024

Total segment income from operations $ 75,299 $ 88,727 $ 171,973 $ 195,900

4 unchanged sentences

Interest expense, net ( 10,699 ) ( 15,296 ) ( 21,886 ) ( 28,972 )

Income (loss) before provision for income taxes $ 46,044 $ ( 78,556 )

BLOOMIN’ BRANDS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(UNAUDITED) - Continued

The following table is a summary of depreciation and amortization and capital expenditures by segment for the periods indicated:

THIRTEEN WEEKS ENDED

DEPRECIATION AND AMORTIZATION CAPITAL EXPENDITURES

(dollars in thousands) MARCH 30, 2025 MARCH 31, 2024 MARCH 30, 2025 MARCH 31, 2024

Income (loss) before (benefit) provision for income taxes $ 18,951 $ 28,756 $ 64,995 $ ( 49,800 )

The following table is a summary of depreciation and amortization by segment for the periods indicated:

THIRTEEN WEEKS ENDED TWENTY-SIX WEEKS ENDED

(dollars in thousands) JUNE 29, 2025 JUNE 30, 2024 JUNE 29, 2025 JUNE 30, 2024

Depreciation and amortization

$ 42,145 $ 40,616 $ 83,758 $ 80,584

1 unchanged sentence

Other 248 560 498 1,239

Total $ 43,947 $ 42,700 $ 48,654 $ 51,217

Total depreciation and amortization $ 44,598 $ 43,390 $ 88,545 $ 86,090

The following table is a summary of capital expenditures by segment, excluding non-cash activity, for the periods indicated:

TWENTY-SIX WEEKS ENDED

(dollars in thousands) JUNE 29, 2025 JUNE 30, 2024

Capital expenditures

$ 76,906 $ 103,691

Corporate 7,380 3,836

Total capital expenditures $ 84,297 $ 108,242

The following table sets forth Total assets by segment as of the periods i ndicated:

(dollars in thousands) MARCH 30, 2025 DECEMBER 29, 2024

(dollars in thousands) JUNE 29, 2025 DECEMBER 29, 2024

$ 2,630,373 $ 2,735,251

5 unchanged sentences

Total assets $ 3,307,548 $ 3,384,805

_________________

(1) Includes the Company’s equity method investment in Brazil.

BLOOMIN’ BRANDS, INC.

2 unchanged sentences

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 1. Financial Statements