Bloomin' Brands (BLMN) 10-Q 1 Aug 23 2023 Q2 Quarterly report Financial data

Cover Page

Cover Page - $ / shares	6 Months Ended
	Jun. 25, 2023	Jul. 27, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 25, 2023
Document Transition Report	false
Entity File Number	001-35625
Entity Registrant Name	BLOOMIN’ BRANDS, INC.
Entity Incorporation, State	DE
Entity Tax Identification Number	20-8023465
Entity Address, Address Line One	2202 North West Shore Boulevard
Entity Address, Address Line Two	Suite 500
Entity Address City	Tampa
Entity Address State	FL
Entity Address Postal Zip Code	33607
City Area Code	813
Local Phone Number	282-1225
Title of 12(b) Security	Common Stock
Security Trading Currency	USD
Par Value Per Share	$ 0.01
Trading Symbol	BLMN
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Reporting Company	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		87,097,283
Amendment Flag	false
Entity Central Index Key	0001546417
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 25, 2023	Dec. 25, 2022
Current assets
Cash and cash equivalents	$ 88,794	$ 84,735
Inventories	62,327	78,124
Other current assets, net	96,770	183,718
Total current assets	247,891	346,577
Property, fixtures and equipment, net	975,986	914,142
Operating lease right-of-use assets	1,089,218	1,103,083
Goodwill	274,629	273,032
Intangible assets, net	445,630	448,326
Deferred income tax assets, net	152,387	153,118
Other assets, net	87,391	82,147
Total assets	3,273,132	3,320,425
Current liabilities
Accounts payable	202,207	183,715
Current operating lease liabilities	185,362	183,510
Accrued and other current liabilities	211,481	217,427
Unearned revenue	312,556	394,215
Total current liabilities	911,606	978,867
Non-current operating lease liabilities	1,132,015	1,148,607
Long-term debt, net	763,998	828,507
Other long-term liabilities, net	93,645	90,535
Total liabilities	2,901,264	3,046,516
Commitments and contingencies
Bloomin’ Brands stockholders’ equity
Preferred stock, $0.01 par value, 25,000,000 shares authorized; no shares issued and outstanding as of June 25, 2023 and December 25, 2022	0	0
Common stock, $0.01 par value, 475,000,000 shares authorized; 87,339,455 and 87,696,200 shares issued and outstanding as of June 25, 2023 and December 25, 2022, respectively	873	877
Additional paid-in capital	1,132,732	1,161,912
Accumulated deficit	(582,738)	(706,109)
Accumulated other comprehensive loss	(181,943)	(185,311)
Total Bloomin’ Brands stockholders’ equity	368,924	271,369
Noncontrolling interests	2,944	2,540
Total stockholders’ equity	371,868	273,909
Total liabilities and stockholders’ equity	$ 3,273,132	$ 3,320,425

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 25, 2023	Dec. 25, 2022
Statement of Financial Position [Abstract]
Preferred stock, par value (in USD per share)	$ 0.01	$ 0.01
Preferred stock, authorized (in shares)	25,000,000	25,000,000
Preferred stock, issued (in shares)	0	0
Preferred stock, outstanding (in shares)	0	0
Common stock, par value (in USD per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	475,000,000	475,000,000
Common stock, issued (in shares)	87,339,455	87,696,200
Common stock, outstanding (in shares)	87,339,455	87,696,200

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 25, 2023	Jun. 26, 2022		Jun. 25, 2023	Jun. 26, 2022
Revenues
Restaurant sales, franchise and other revenues	$ 1,152,694	$ 1,125,162		$ 2,397,440	$ 2,265,697
Costs and expenses
Food and beverage	351,226	364,459		735,440	723,829
Labor and other related	325,934	308,759		667,476	621,270
Other restaurant operating	273,338	263,529		556,265	522,639
Depreciation and amortization	47,565	41,257		93,867	83,032
General and administrative	63,358	59,246		129,162	117,920
Provision for impaired assets and restaurant closings	1,827	193		5,151	2,032
Total costs and expenses	1,063,248	1,037,443		2,187,361	2,070,722
Income from operations	89,446	87,719		210,079	194,975
Loss on extinguishment and modification of debt	0	(107,630)		0	(107,630)
Loss on fair value adjustment of derivatives, net	0	(17,685)		0	(17,685)
Interest expense, net	(12,961)	(12,548)		(25,405)	(26,181)
Income (loss) before provision for income taxes	76,485	(50,144)		184,674	43,479
Provision for income taxes	6,483	11,536		21,244	27,465
Net income (loss)	70,002	(61,680)		163,430	16,014
Less: net income attributable to noncontrolling interests	1,725	1,955		3,842	4,138
Net income (loss) attributable to Bloomin’ Brands	68,277	(63,635)	[1]	159,588	11,876
Other comprehensive income (loss):
Foreign currency translation adjustment	4,502	11,940		3,368	23,223
Unrealized gain on derivatives, net of tax	0	0		0	573
Reclassification of adjustments for loss on derivatives included in Net income (loss), net of tax	0	273		0	954
Impact of terminated interest rate swaps included in Net income (loss), net of tax	0	2,164		0	5,185
Comprehensive income (loss)	74,504	(47,303)		166,798	45,949
Less: comprehensive income attributable to noncontrolling interests	1,725	1,955		3,842	4,138
Comprehensive income (loss) attributable to Bloomin’ Brands	$ 72,779	$ (49,258)		$ 162,956	$ 41,811
Earnings (loss) per share:
Basic (in USD per share)	$ 0.77	$ (0.72)	[1]	$ 1.80	$ 0.13
Diluted (in USD per share)	$ 0.70	$ (0.72)	[1]	$ 1.63	$ 0.12
Weighted average common shares outstanding:
Basic (in shares)	88,559	88,898	[1]	88,838	89,127
Diluted (in shares)	97,401	88,898	[1]	97,706	102,045
Restaurant sales
Revenues
Restaurant sales, franchise and other revenues	$ 1,137,330	$ 1,108,918		$ 2,365,564	$ 2,232,493
Franchise and other revenues
Revenues
Restaurant sales, franchise and other revenues	$ 15,364	$ 16,244		$ 31,876	$ 33,204
[1]Due to the Company’s net loss during the thirteen weeks ended June 26, 2022, the effect of dilutive securities was excluded from the computation of diluted earnings per share as their effect would be antidilutive.

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands		Total	Common stock	Additional paid-in capital	Accumulated deficit	Accumulated other comprehensive loss	Non-controlling interests
Balance at beginning of period (in shares) at Dec. 26, 2021			89,253,000
Balance at beginning of period at Dec. 26, 2021		$ 222,850	$ 893	$ 1,119,728	$ (698,171)	$ (205,989)	$ 6,389
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)		16,014			11,876		4,138
Other comprehensive income, net of tax		29,935				29,935
Cash dividends declared, per common share		(24,977)		(24,977)
Repurchase and retirement of common stock (in shares)			(2,312,000)
Repurchase and retirement of common stock, including excise tax of $48		(47,451)	$ (23)		(47,428)
Stock-based compensation		9,802		9,802
Common stock issued under stock plans (in shares)	[1]		897,000
Common stock issued under stock plans	[1]	2,007	$ 9	1,998
Purchase of noncontrolling interest, net of tax		(4,650)		(735)			(3,915)
Distributions to noncontrolling interests		(5,154)					(5,154)
Contributions from noncontrolling interests		461					461
Retirement of convertible senior note hedges		112,956		112,956
Retirement of warrants		(97,617)		(97,617)
Issuance of common stock from repurchase of convertible senior notes (in shares)			2,313,000
Issuance of common stock from repurchase of convertible senior notes		48,565	$ 23	48,542
Balance at end of period (in shares) at Jun. 26, 2022			90,151,000
Balance at end of period at Jun. 26, 2022		262,741	$ 902	1,169,697	(733,723)	(176,054)	1,919
Balance at beginning of period (in shares) at Mar. 27, 2022			89,185,000
Balance at beginning of period at Mar. 27, 2022		293,257	$ 892	1,115,458	(634,356)	(190,431)	1,694
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)		(61,680)			(63,635)		1,955
Other comprehensive income, net of tax		14,377				14,377
Cash dividends declared, per common share		(12,418)		(12,418)
Repurchase and retirement of common stock (in shares)			(1,761,000)
Repurchase and retirement of common stock, including excise tax of $48		(35,749)	$ (17)		(35,732)
Stock-based compensation		4,959		4,959
Common stock issued under stock plans (in shares)	[1]		414,000
Common stock issued under stock plans	[1]	1,122	$ 4	1,118
Purchase of noncontrolling interest, net of tax		(2,762)		(3,301)			539
Distributions to noncontrolling interests		(2,513)					(2,513)
Contributions from noncontrolling interests		244					244
Retirement of convertible senior note hedges		112,956		112,956
Retirement of warrants		(97,617)		(97,617)
Issuance of common stock from repurchase of convertible senior notes (in shares)			2,313,000
Issuance of common stock from repurchase of convertible senior notes		48,565	$ 23	48,542
Balance at end of period (in shares) at Jun. 26, 2022			90,151,000
Balance at end of period at Jun. 26, 2022		$ 262,741	$ 902	1,169,697	(733,723)	(176,054)	1,919
Balance at beginning of period (in shares) at Dec. 25, 2022		87,696,200	87,696,000
Balance at beginning of period at Dec. 25, 2022		$ 273,909	$ 877	1,161,912	(706,109)	(185,311)	2,540
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cash dividends declared, per common share		(21,014)
Balance at end of period (in shares) at Mar. 26, 2023			87,465,000
Balance at end of period at Mar. 26, 2023		$ 322,841	$ 875	1,141,017	(635,451)	(186,445)	2,845
Balance at beginning of period (in shares) at Dec. 25, 2022		87,696,200	87,696,000
Balance at beginning of period at Dec. 25, 2022		$ 273,909	$ 877	1,161,912	(706,109)	(185,311)	2,540
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)		163,430			159,588		3,842
Other comprehensive income, net of tax		3,368				3,368
Cash dividends declared, per common share		(42,004)		(42,004)
Repurchase and retirement of common stock (in shares)			(1,482,000)
Repurchase and retirement of common stock, including excise tax of $48		(36,232)	$ (15)		(36,217)
Stock-based compensation		8,042		8,042
Common stock issued under stock plans (in shares)	[1]		1,125,000
Common stock issued under stock plans	[1]	4,793	$ 11	4,782
Distributions to noncontrolling interests		(4,640)					(4,640)
Contributions from noncontrolling interests		$ 1,202					1,202
Balance at end of period (in shares) at Jun. 25, 2023		87,339,455	87,339,000
Balance at end of period at Jun. 25, 2023		$ 371,868	$ 873	1,132,732	(582,738)	(181,943)	2,944
Balance at beginning of period (in shares) at Mar. 26, 2023			87,465,000
Balance at beginning of period at Mar. 26, 2023		322,841	$ 875	1,141,017	(635,451)	(186,445)	2,845
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)		70,002			68,277		1,725
Other comprehensive income, net of tax		4,502				4,502
Cash dividends declared, per common share		(20,990)		(20,990)
Repurchase and retirement of common stock (in shares)			(619,000)
Repurchase and retirement of common stock, including excise tax of $48		(15,570)	$ (6)		(15,564)
Stock-based compensation		5,138		5,138
Common stock issued under stock plans (in shares)	[1]		493,000
Common stock issued under stock plans	[1]	7,571	$ 4	7,567
Distributions to noncontrolling interests		(2,085)					(2,085)
Contributions from noncontrolling interests		$ 459					459
Balance at end of period (in shares) at Jun. 25, 2023		87,339,455	87,339,000
Balance at end of period at Jun. 25, 2023		$ 371,868	$ 873	$ 1,132,732	$ (582,738)	$ (181,943)	$ 2,944
[1]Net of forfeitures and shares withheld for employee taxes.

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 25, 2023	Jun. 26, 2022	Jun. 25, 2023	Jun. 26, 2022
Cash dividends declared per common share (in USD per share)	$ 0.24	$ 0.14	$ 0.48	$ 0.28
Excise tax on share repurchases	$ 31		$ 48
Additional paid-in capital
Deferred tax effect of purchase of noncontrolling interests		$ (1,142)		$ 254

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 25, 2023	Jun. 26, 2022
Cash flows provided by operating activities:
Net income	$ 163,430	$ 16,014
Adjustments to reconcile Net income to cash provided by operating activities:
Depreciation and amortization	93,867	83,032
Amortization of debt discounts and issuance costs	1,532	2,025
Amortization of deferred gift card sales commissions	13,180	13,458
Provision for impaired assets and restaurant closings	5,151	2,032
Non-cash interest expense from terminated interest rate swaps	0	6,980
Non-cash operating lease costs	42,884	41,336
Stock-based compensation expense	8,042	9,802
Deferred income tax (benefit) expense	(1,164)	8,329
Loss on extinguishment and modification of debt	0	107,630
Loss on fair value adjustment of derivatives, net	0	17,685
Other, net	(3,515)	4,935
Change in assets and liabilities	(36,114)	(94,440)
Net cash provided by operating activities	287,293	218,818
Cash flows used in investing activities:
Capital expenditures	(142,153)	(76,901)
Other investments, net	1,502	1,163
Net cash used in investing activities	(140,651)	(75,738)
Cash flows used in financing activities:
Repayments of long-term debt and finance lease obligations	(816)	(195,733)
Proceeds from borrowings on revolving credit facilities	448,000	624,500
Repayments of borrowings on revolving credit facilities	(513,000)	(304,500)
Financing fees	0	(853)
Principal settlements and repurchase of convertible senior notes	(214)	(196,919)
Proceeds from retirement of convertible senior note hedges	0	131,869
Payments for retirement of warrants	0	(114,825)
Proceeds from share-based compensation, net	4,793	2,007
Distributions to noncontrolling interests	(4,640)	(5,154)
Contributions from noncontrolling interests	1,202	461
Purchase of noncontrolling interests	(100)	(4,904)
Payments for partner equity plan	0	(5,743)
Repurchase of common stock	(36,435)	(46,151)
Cash dividends paid on common stock	(42,004)	(24,977)
Net cash used in financing activities	(143,214)	(140,922)
Effect of exchange rate changes on cash and cash equivalents	631	4,232
Net increase in cash, cash equivalents and restricted cash	4,059	6,390
Cash, cash equivalents and restricted cash as of the beginning of the period	84,735	89,057
Cash, cash equivalents and restricted cash as of the end of the period	88,794	95,447
Supplemental disclosures of cash flow information:
Cash paid for interest	16,951	18,862
Cash paid for income taxes, net of refunds	15,356	17,191
Supplemental disclosures of non-cash investing and financing activities:
Leased assets obtained in exchange for new operating lease liabilities	30,249	26,415
Leased assets obtained in exchange for new finance lease liabilities	5,367	2,417
Increase in liabilities from the acquisition of property, fixtures and equipment	$ 7,522	$ 2,545

Description of the Business and

Description of the Business and Basis of Presentation	6 Months Ended
	Jun. 25, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of the Business and Basis of Presentation	Description of the Business and Basis of Presentation Description of the Business - Bloomin’ Brands (“Bloomin’ Brands” or the “Company”) owns and operates casual, upscale casual and fine dining restaurants. The Company’s restaurant portfolio has four concepts: Outback Steakhouse, Carrabba’s Italian Grill, Bonefish Grill and Fleming’s Prime Steakhouse & Wine Bar. Additional Outback Steakhouse, Carrabba’s Italian Grill and Bonefish Grill restaurants in which the Company has no direct investment are operated under franchise agreements. Basis of Presentation - The accompanying interim unaudited condensed consolidated financial statements have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission. Accordingly, they do not include all the information and footnotes required by generally accepted accounting principles in the United States (“U.S. GAAP”) for complete financial statements. In the opinion of the Company, all adjustments necessary for fair financial statement presentation for the periods presented have been included and are of a normal, recurring nature. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year. These financial statements should be read in conjunction with the audited financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 25, 2022. Recently Issued Financial Accounting Standards Not Yet Adopted - Recent accounting guidance not discussed herein is not applicable, did not have or is not expected to have a material impact to the Company. Reclassifications - The Company reclassified certain items in the accompanying consolidated financial statements for prior periods to be comparable with the classification for the current period, including, but not limited to, finance lease liabilities presented within other liabilities that were formerly presented within long-term debt, the separate presentation of current operating lease liabilities on the face of the Consolidated Balance Sheets and the presentation of certain items within the Condensed Consolidated Statements of Cash Flows. These reclassifications had no effect on previously reported net income.

Revenue Recognition

Revenue Recognition	6 Months Ended
	Jun. 25, 2023
Revenue Recognition and Deferred Revenue [Abstract]
Revenue Recognition	Revenue Recognition The following table includes the categories of revenue included in the Company’s Consolidated Statements of Operations and Comprehensive Income (Loss) for the periods indicated: THIRTEEN WEEKS ENDED TWENTY-SIX WEEKS ENDED (dollars in thousands) JUNE 25, 2023 JUNE 26, 2022 JUNE 25, 2023 JUNE 26, 2022 Revenues Restaurant sales $ 1,137,330 $ 1,108,918 $ 2,365,564 $ 2,232,493 Franchise and other revenues Franchise revenues 12,568 12,596 26,091 26,002 Other revenues 2,796 3,648 5,785 7,202 Total Franchise and other revenues 15,364 16,244 31,876 33,204 Total revenues $ 1,152,694 $ 1,125,162 $ 2,397,440 $ 2,265,697 The following tables include the disaggregation of Restaurant sales and franchise revenues, by restaurant concept and major international market, for the periods indicated: THIRTEEN WEEKS ENDED JUNE 25, 2023 JUNE 26, 2022 (dollars in thousands) RESTAURANT SALES FRANCHISE REVENUES RESTAURANT SALES FRANCHISE REVENUES U.S. Outback Steakhouse $ 576,989 $ 8,219 $ 573,563 $ 8,156 Carrabba’s Italian Grill 176,666 758 170,190 797 Bonefish Grill 143,458 95 145,472 173 Fleming’s Prime Steakhouse & Wine Bar 92,851 — 93,933 — Other 3,474 10 2,769 8 U.S. total 993,438 9,082 985,927 9,134 International Outback Steakhouse - Brazil (1) 119,295 — 100,647 — Other (1)(2) 24,597 3,486 22,344 3,462 International total 143,892 3,486 122,991 3,462 Total $ 1,137,330 $ 12,568 $ 1,108,918 $ 12,596 TWENTY-SIX WEEKS ENDED JUNE 25, 2023 JUNE 26, 2022 (dollars in thousands) RESTAURANT SALES FRANCHISE REVENUES RESTAURANT SALES FRANCHISE REVENUES U.S. Outback Steakhouse $ 1,205,172 $ 16,763 $ 1,168,956 $ 16,615 Carrabba’s Italian Grill 364,708 1,553 345,818 1,458 Bonefish Grill 301,147 266 296,888 350 Fleming’s Prime Steakhouse & Wine Bar 195,624 — 191,595 — Other 7,356 25 6,305 13 U.S. total 2,074,007 18,607 2,009,562 18,436 International Outback Steakhouse - Brazil (1) 241,311 — 185,948 — Other (1)(2) 50,246 7,484 36,983 7,566 International total 291,557 7,484 222,931 7,566 Total $ 2,365,564 $ 26,091 $ 2,232,493 $ 26,002 ________________ (1) Restaurant sales in Brazil increased $9.6 million and $19.2 million during the thirteen and twenty-six weeks ended June 25, 2023, respectively, in connection with value added tax exemptions resulting from tax legislation. See Note 12 - Income Taxes for details regarding the Brazil tax legislation. (2) Includes Restaurant sales for Company-owned Outback Steakhouse restaurants outside of Brazil and Abbraccio restaurants in Brazil. Franchise revenues primarily include revenues from franchised Outback Steakhouse restaurants. 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) JUNE 25, 2023 DECEMBER 25, 2022 Other current assets, net Deferred gift card sales commissions $ 12,694 $ 17,755 Unearned revenue Deferred gift card revenue $ 304,942 $ 386,495 Deferred loyalty revenue 5,391 5,628 Deferred franchise fees - current 472 460 Other 1,751 1,632 Total Unearned revenue $ 312,556 $ 394,215 Other long-term liabilities, net Deferred franchise fees - non-current $ 4,132 $ 4,126 The following table is a rollforward of deferred gift card sales commissions for the periods indicated: THIRTEEN WEEKS ENDED TWENTY-SIX WEEKS ENDED (dollars in thousands) JUNE 25, 2023 JUNE 26, 2022 JUNE 25, 2023 JUNE 26, 2022 Balance, beginning of the period $ 13,403 $ 13,033 $ 17,755 $ 17,793 Deferred gift card sales commissions amortization (5,383) (5,441) (13,180) (13,458) Deferred gift card sales commissions capitalization 5,340 5,436 9,743 9,605 Other (666) (690) (1,624) (1,602) Balance, end of the period $ 12,694 $ 12,338 $ 12,694 $ 12,338 The following table is a rollforward of unearned gift card revenue for the periods indicated: THIRTEEN WEEKS ENDED TWENTY-SIX WEEKS ENDED (dollars in thousands) JUNE 25, 2023 JUNE 26, 2022 JUNE 25, 2023 JUNE 26, 2022 Balance, beginning of the period $ 314,096 $ 314,974 $ 386,495 $ 387,945 Gift card sales 65,338 65,174 118,343 115,454 Gift card redemptions (70,175) (72,428) (188,458) (189,050) Gift card breakage (4,317) (4,176) (11,438) (10,805) Balance, end of the period $ 304,942 $ 303,544 $ 304,942 $ 303,544

Earnings (Loss) Per Share

Earnings (Loss) Per Share	6 Months Ended
	Jun. 25, 2023
Earnings Per Share [Abstract]
Earnings (Loss) Per Share	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 TWENTY-SIX WEEKS ENDED (in thousands, except per share data) JUNE 25, 2023 JUNE 26, 2022 (1) JUNE 25, 2023 JUNE 26, 2022 Net income (loss) attributable to Bloomin’ Brands $ 68,277 $ (63,635) $ 159,588 $ 11,876 Basic weighted average common shares outstanding 88,559 88,898 88,838 89,127 Effect of dilutive securities: Stock options 395 — 398 305 Nonvested restricted stock units 132 — 201 192 Nonvested performance-based share units — — 143 143 Convertible senior notes (2) 5,002 — 4,917 8,253 Warrants (2) 3,313 — 3,209 4,025 Diluted weighted average common shares outstanding 97,401 88,898 97,706 102,045 Basic earnings (loss) per share $ 0.77 $ (0.72) $ 1.80 $ 0.13 Diluted earnings (loss) per share $ 0.70 $ (0.72) $ 1.63 $ 0.12 ______________ (1) Due to the Company’s net loss during the thirteen weeks ended June 26, 2022, the effect of dilutive securities was excluded from the computation of diluted earnings per share as their effect would be antidilutive. (2) During the thirteen weeks ended June 26, 2022, the Company repurchased $125.0 million of the convertible notes due in 2025 and settled the corresponding portion of the related note hedges and warrants (the “2025 Notes Partial Repurchase”). Share-based compensation-related weighted average securities outstanding not included in the computation of earnings (loss) per share because their effect was antidilutive were as follows for the periods indicated: THIRTEEN WEEKS ENDED TWENTY-SIX WEEKS ENDED (shares in thousands) JUNE 25, 2023 JUNE 26, 2022 JUNE 25, 2023 JUNE 26, 2022 Stock options 689 2,563 707 1,870 Nonvested restricted stock units 21 485 70 299 Nonvested performance-based share units 581 596 463 475

Stock-based Compensation Plans

Stock-based Compensation Plans	6 Months Ended
	Jun. 25, 2023
Share-Based Payment Arrangement [Abstract]
Stock-based Compensation Plans	Stock-based Compensation Plans The Company recognized stock-based compensation expense, net of capitalized expense, as follows for the periods indicated: THIRTEEN WEEKS ENDED TWENTY-SIX WEEKS ENDED (dollars in thousands) JUNE 25, 2023 JUNE 26, 2022 JUNE 25, 2023 JUNE 26, 2022 Performance-based share units $ 2,297 $ 2,840 $ 3,220 $ 5,459 Restricted stock units 1,985 2,027 3,948 3,837 Stock options 835 55 835 432 Total stock-based compensation expense, net $ 5,117 $ 4,922 $ 8,003 $ 9,728 In February 2023, the Company granted performance-based share units (“PSUs”) subject to final payout modification by a Relative Total Shareholder Return (“Relative TSR”) modifier. This Relative TSR modifier can adjust the final payout outcome by 75%, 100% or 125% of the achieved performance metric, with the overall payout capped at 200% of the annual target grant. These PSUs have a three-year cliff vesting period and their fair value was estimated using the Monte Carlo simulation model. The following table presents a summary of the Company’s PSU activity: (in thousands, except per unit data) PERFORMANCE-BASED SHARE UNITS WEIGHTED AVERAGE GRANT DATE FAIR VALUE PER UNIT AGGREGATE Outstanding as of December 25, 2022 874 $ 24.83 $ 18,323 Granted 301 $ 29.01 Performance adjustment (2) 154 $ 19.84 Vested (470) $ 19.84 Forfeited (32) $ 26.39 Outstanding as of June 25, 2023 827 $ 26.92 $ 21,308 Expected to vest as of June 25, 2023 (3) 1,067 $ 27,486 ________________ (1) Based on the $20.96 and $25.76 share price of the Company’s common stock on December 23, 2022 and June 23, 2023, the last trading day of the year ended December 25, 2022 and the twenty-six weeks ended June 25, 2023, respectively. (2) Represents adjustment to 148% payout for PSUs granted during 2020. (3) Estimated number of units to be issued upon the vesting of outstanding PSU awards based on Company performance projections of performance criteria set forth in the 2021, 2022 and 2023 PSU award agreements. Assumptions used in the Monte Carlo simulation model and the grant date fair value of PSUs granted were as follows for the periods indicated: TWENTY-SIX WEEKS ENDED JUNE 25, 2023 JUNE 26, 2022 Assumptions: Risk-free interest rate (1) 4.26 % 1.64 % Dividend yield (2) 3.47 % 2.31 % Volatility (3) 51.02 % 49.11 % Grant date fair value per unit (4) $ 29.01 $ 26.10 ________________ (1) Risk-free interest rate is the U.S. Treasury yield curve in effect as of the grant date for the performance period of the unit. (2) Dividend yield is the level of dividends expected to be paid on the Company’s common stock over the expected term. (3) Based on the historical volatility of the Company’s stock over the last seven years. (4) Represents a premium above the grant date per share value of the Company’s common stock for the Relative TSR modifier of 2.7% and 7.9% during the twenty-six weeks ended June 25, 2023 and June 26, 2022, respectively. The following represents unrecognized stock-based compensation expense and the remaining weighted average vesting period as of June 25, 2023: UNRECOGNIZED COMPENSATION EXPENSE REMAINING WEIGHTED AVERAGE VESTING PERIOD (in years) Performance-based share units $ 14,306 1.7 Restricted stock units $ 11,917 2.0

Other Current Assets, Net

Other Current Assets, Net	6 Months Ended
	Jun. 25, 2023
Other Current Assets, Net [Abstract]
Other Current Assets, Net	Other Current Assets, Net Other current assets, net, consisted of the following as of the periods indicated: (dollars in thousands) JUNE 25, 2023 DECEMBER 25, 2022 Prepaid expenses $ 24,387 $ 29,343 Accounts receivable - gift cards, net 15,754 85,606 Accounts receivable - vendors, net 15,638 25,385 Accounts receivable - franchisees, net 3,993 2,550 Accounts receivable - other, net 18,094 18,408 Deferred gift card sales commissions 12,694 17,755 Other current assets, net 6,210 4,671 $ 96,770 $ 183,718

Goodwill and Intangible Assets,

Goodwill and Intangible Assets, Net	6 Months Ended
	Jun. 25, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets, Net	Goodwill and Intangible Assets, Net Annual Goodwill and Intangible Assets Impairment Assessment - The Company performs its annual assessment for impairment of goodwill and other indefinite-lived intangible assets during its second fiscal quarter. The Company’s 2023 assessment was quantitative and the 2022 assessment was qualitative. In connection with these assessments, the Company did not record any impairment charges.

Long-term Debt, Net

Long-term Debt, Net	6 Months Ended
	Jun. 25, 2023
Debt Disclosure [Abstract]
Long-term Debt, Net	Long-term Debt, Net Following is a summary of outstanding Long-term debt, net, as of the periods indicated: JUNE 25, 2023 DECEMBER 25, 2022 (dollars in thousands) OUTSTANDING BALANCE INTEREST RATE OUTSTANDING BALANCE INTEREST RATE Senior secured credit facility - revolving credit facility (1) $ 365,000 6.77 % $ 430,000 5.79 % 2025 Notes 104,786 5.00 % 105,000 5.00 % 2029 Notes 300,000 5.13 % 300,000 5.13 % Less: unamortized debt discount and issuance costs (5,788) (6,493) Long-term debt, net $ 763,998 $ 828,507 ________________ (1) Interest rate represents the weighted average interest rate as of the respective periods. Debt Covenants - As of June 25, 2023 and December 25, 2022, the Company was in compliance with its debt covenants.

Convertible Senior Notes

Convertible Senior Notes	6 Months Ended
	Jun. 25, 2023
Convertible Notes [Abstract]
Convertible Senior Notes	Convertible Senior Notes 2025 Notes - In connection with dividends paid during the twenty-six weeks ended June 25, 2023, the conversion rate for the Company’s remaining convertible senior notes due 2025 (the “2025 Notes”) decreased to approximately $11.37 per share, which represents 87.962 shares of common stock per $1,000 principal amount of the 2025 Notes, or a total of approximately 9.217 million shares. The following table includes the outstanding principal amount and carrying value of the 2025 Notes as of the periods indicated: (dollars in thousands) JUNE 25, 2023 DECEMBER 25, 2022 Principal $ 104,786 $ 105,000 Less: debt issuance costs (1,542) (1,939) Net carrying amount $ 103,244 $ 103,061 Following is a summary of interest expense for the 2025 Notes by component for the periods indicated: THIRTEEN WEEKS ENDED TWENTY-SIX WEEKS ENDED (dollars in thousands) JUNE 25, 2023 JUNE 26, 2022 JUNE 25, 2023 JUNE 26, 2022 Coupon interest $ 1,310 $ 2,597 $ 2,622 $ 5,472 Debt issuance cost amortization 198 370 394 774 Total interest expense (1) $ 1,508 $ 2,967 $ 3,016 $ 6,246 ________________ (1) The effective rate of the 2025 Notes over their expected life is 5.85%. The decrease in interest expense during the thirteen and twenty-six weeks ended June 25, 2023 relates to the 2025 Notes Partial Repurchase in May 2022. Based on the daily closing prices of the Company’s stock during the quarter ended June 25, 2023, the remaining holders of the 2025 Notes are eligible to convert their notes during the third quarter of 2023.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 25, 2023
Stockholders' Equity Attributable to Parent [Abstract]
Stockholders' Equity	Stockholders’ Equity Share Repurchases - On February 7, 2023, the Company’s Board of Directors (the “Board”) approved a share repurchase program (the “2023 Share Repurchase Program”) under which the Company is authorized to repurchase up to $125.0 million of its outstanding common stock. The 2023 Share Repurchase Program will expire on August 7, 2024. As of June 25, 2023, $103.8 million remained available for repurchase under the 2023 Share Repurchase Program. Following is a summary of the shares repurchased during fiscal year 2023: (in thousands, except per share data) NUMBER OF SHARES AVERAGE REPURCHASE PRICE PER SHARE AMOUNT First fiscal quarter 863 $ 23.92 $ 20,645 Second fiscal quarter 619 $ 25.11 15,539 Total common stock repurchases (1) 1,482 $ 24.42 $ 36,184 ________________ (1) Excludes excise tax on share repurchases. Subsequent to June 25, 2023, the Company repurchased 269 thousand shares of its common stock for $7.3 million under a Rule 10b5-1 plan. Dividends - The Company declared and paid dividends per share during fiscal year 2023 as follows: (dollars in thousands, except per share data) DIVIDENDS PER SHARE AMOUNT First fiscal quarter $ 0.24 $ 21,014 Second fiscal quarter 0.24 20,990 Total cash dividends declared and paid $ 0.48 $ 42,004 In July 2023, the Board declared a quarterly cash dividend of $0.24 per share, payable on August 25, 2023 to shareholders of record at the close of business on August 14, 2023. Accumulated Other Comprehensive Loss (“AOCL”) - AOCL consisted of foreign currency translation adjustments as of June 25, 2023 and December 25, 2022. Following are the components of Other comprehensive income attributable to Bloomin’ Brands for the periods indicated: THIRTEEN WEEKS ENDED TWENTY-SIX WEEKS ENDED (dollars in thousands) JUNE 25, 2023 JUNE 26, 2022 JUNE 25, 2023 JUNE 26, 2022 Foreign currency translation adjustment $ 4,502 $ 11,940 $ 3,368 $ 23,223 Unrealized gain on derivatives, net of tax — — — 573 Reclassification of adjustments for loss on derivatives included in Net income (loss), net of tax — 273 — 954 Impact of terminated interest rate swaps included in Net income (loss), net of tax — 2,164 — 5,185 Total gain on derivatives, net of tax — 2,437 — 6,712 Other comprehensive income attributable to Bloomin’ Brands $ 4,502 $ 14,377 $ 3,368 $ 29,935

Leases

Leases	6 Months Ended
	Jun. 25, 2023
Leases [Abstract]
Leases	Leases 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 SHEET CLASSIFICATION JUNE 25, 2023 DECEMBER 25, 2022 Operating lease right-of-use assets Operating lease right-of-use assets $ 1,089,218 $ 1,103,083 Finance lease right-of-use assets (1) Property, fixtures and equipment, net 10,045 4,679 Total lease assets, net $ 1,099,263 $ 1,107,762 Current operating lease liabilities Current operating lease liabilities $ 185,362 $ 183,510 Current finance lease liabilities Accrued and other current liabilities 2,508 1,636 Non-current operating lease liabilities (2) Non-current operating lease liabilities 1,131,843 1,148,379 Non-current finance lease liabilities Other long-term liabilities, net 8,037 3,149 Total lease liabilities $ 1,327,750 $ 1,336,674 ________________ (1) Net of accumulated amortization of $3.5 million and $3.6 million as of June 25, 2023 and December 25, 2022, respectively. (2) Excludes immaterial COVID-19-related deferred rent accruals. 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 TWENTY-SIX WEEKS ENDED (dollars in thousands) JUNE 25, 2023 JUNE 26, 2022 JUNE 25, 2023 JUNE 26, 2022 Operating lease cost (1) Other restaurant operating $ 46,237 $ 45,579 $ 91,984 $ 90,940 Variable lease cost Other restaurant operating 1,629 1,619 3,353 3,502 Finance lease costs: Amortization of leased assets Depreciation and amortization 549 356 1,037 693 Interest on lease liabilities Interest expense, net 174 44 310 76 Sublease revenue Franchise and other revenues (1,635) (2,436) (3,343) (4,994) Lease costs, net $ 46,954 $ 45,162 $ 93,341 $ 90,217 ________________ (1) Excludes rent expense for office facilities and Company-owned closed or subleased properties of $3.0 million and $3.1 million for the thirteen weeks ended June 25, 2023 and June 26, 2022, respectively, and $6.0 million and $6.1 million for the twenty-six weeks ended June 25, 2023 and June 26, 2022, respectively, 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: TWENTY-SIX WEEKS ENDED (dollars in thousands) JUNE 25, 2023 JUNE 26, 2022 Cash flows from operating activities: Cash paid for amounts included in the measurement of operating lease liabilities $ 97,804 $ 97,255
Leases	Leases 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 SHEET CLASSIFICATION JUNE 25, 2023 DECEMBER 25, 2022 Operating lease right-of-use assets Operating lease right-of-use assets $ 1,089,218 $ 1,103,083 Finance lease right-of-use assets (1) Property, fixtures and equipment, net 10,045 4,679 Total lease assets, net $ 1,099,263 $ 1,107,762 Current operating lease liabilities Current operating lease liabilities $ 185,362 $ 183,510 Current finance lease liabilities Accrued and other current liabilities 2,508 1,636 Non-current operating lease liabilities (2) Non-current operating lease liabilities 1,131,843 1,148,379 Non-current finance lease liabilities Other long-term liabilities, net 8,037 3,149 Total lease liabilities $ 1,327,750 $ 1,336,674 ________________ (1) Net of accumulated amortization of $3.5 million and $3.6 million as of June 25, 2023 and December 25, 2022, respectively. (2) Excludes immaterial COVID-19-related deferred rent accruals. 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 TWENTY-SIX WEEKS ENDED (dollars in thousands) JUNE 25, 2023 JUNE 26, 2022 JUNE 25, 2023 JUNE 26, 2022 Operating lease cost (1) Other restaurant operating $ 46,237 $ 45,579 $ 91,984 $ 90,940 Variable lease cost Other restaurant operating 1,629 1,619 3,353 3,502 Finance lease costs: Amortization of leased assets Depreciation and amortization 549 356 1,037 693 Interest on lease liabilities Interest expense, net 174 44 310 76 Sublease revenue Franchise and other revenues (1,635) (2,436) (3,343) (4,994) Lease costs, net $ 46,954 $ 45,162 $ 93,341 $ 90,217 ________________ (1) Excludes rent expense for office facilities and Company-owned closed or subleased properties of $3.0 million and $3.1 million for the thirteen weeks ended June 25, 2023 and June 26, 2022, respectively, and $6.0 million and $6.1 million for the twenty-six weeks ended June 25, 2023 and June 26, 2022, respectively, 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: TWENTY-SIX WEEKS ENDED (dollars in thousands) JUNE 25, 2023 JUNE 26, 2022 Cash flows from operating activities: Cash paid for amounts included in the measurement of operating lease liabilities $ 97,804 $ 97,255

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 25, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Fair value is the price that would be received for an asset or paid to transfer a liability, or the exit price, in an orderly transaction between market participants on the measurement date. Fair value is categorized into one of the following three levels based on the lowest level of significant input: Level 1 Unadjusted quoted market prices in active markets for identical assets or liabilities Level 2 Observable inputs available at measurement date other than quoted prices included in Level 1 Level 3 Unobservable inputs that cannot be corroborated by observable market data Fair Value Measurements on a Recurring Basis - The following table summarizes the Company’s financial assets measured at fair value by hierarchy level on a recurring basis as of the periods indicated: JUNE 25, 2023 DECEMBER 25, 2022 (dollars in thousands) TOTAL LEVEL 1 TOTAL LEVEL 1 Assets (1): Cash equivalents: Fixed income funds $ 11,715 $ 11,715 $ 3,301 $ 3,301 Money market funds 8,880 8,880 4,786 4,786 Total asset recurring fair value measurements $ 20,595 $ 20,595 $ 8,087 $ 8,087 ________________ (1) Carrying value approximates fair value because maturities are less than three months. Interim Disclosures about Fair Value of Financial Instruments - The Company’s 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 its Consolidated Balance Sheets due to their short duration. Debt is carried at amortized cost; however, the Company estimates the fair value of debt for disclosure purposes. The following table includes the carrying value and fair value of the Company’s debt by hierarchy level as of the periods indicated: JUNE 25, 2023 DECEMBER 25, 2022 (dollars in thousands) CARRYING VALUE FAIR VALUE LEVEL 2 CARRYING VALUE FAIR VALUE LEVEL 2 Senior secured credit facility - revolving credit facility $ 365,000 $ 365,000 $ 430,000 $ 430,000 2025 Notes $ 104,786 $ 241,722 $ 105,000 $ 198,843 2029 Notes $ 300,000 $ 269,343 $ 300,000 $ 260,265

Income Taxes

Income Taxes	6 Months Ended
	Jun. 25, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes THIRTEEN WEEKS ENDED TWENTY-SIX WEEKS ENDED (dollars in thousands) JUNE 25, 2023 JUNE 26, 2022 JUNE 25, 2023 JUNE 26, 2022 Income (loss) before provision for income taxes $ 76,485 $ (50,144) $ 184,674 $ 43,479 Provision for income taxes $ 6,483 $ 11,536 $ 21,244 $ 27,465 Effective income tax rate 8.5 % (23.0) % 11.5 % 63.2 % The effective income tax rate for the thirteen weeks ended June 25, 2023 changed by 31.5 percentage points as compared to the thirteen weeks ended June 26, 2022. This change is primarily due to the non-deductible losses associated with the 2025 Notes Partial Repurchase which, relative to the Loss before provision for income taxes during the thirteen weeks ended June 26, 2022, resulted in a negative effective income tax rate. This change was partially offset by a reduction in the effective tax rate during the thirteen weeks ended June 25, 2023 from benefits of Brazil tax legislation that include a temporary reduction in the Brazilian income tax rate from 34% to 0% and the revaluation of Brazilian deferred tax assets and liabilities as a result of the May 2023 Brazil tax legislation, as defined and further discussed below. The effective income tax rate for the twenty-six weeks ended June 25, 2023 decreased by 51.7 percentage points as compared to the twenty-six weeks ended June 26, 2022. This decrease was primarily due to the benefits of Brazil tax legislation that include a temporary reduction in the Brazilian income tax rate from 34% to 0% for the twenty-six weeks ended June 25, 2023, and the non-deductible losses associated with the 2025 Notes Partial Repurchase recorded during the twenty-six weeks ended June 26, 2022. In September 2022, the Company’s Brazilian subsidiary received a preliminary injunction authorizing it to benefit from the exemptions enacted by Law 14,148/2021 which provides for emergency and temporary actions that grant certain industries a 100% exemption from income tax (IRPJ and CSLL) and federal value added taxes (PIS and COFINS) for a five-year period. The injunction was issued as part of an ongoing lawsuit initiated by the Company’s Brazilian subsidiary due to the uncertainty regarding the restaurant industry’s eligibility for the exemptions under this legislation. In May 2023, Brazil enacted tax legislation that prospectively limits the Company’s ability to benefit from the 100% exemption from income tax (IRPJ and CSLL) and federal value added taxes (PIS and COFINS) for the full five-year period (the “May 2023 Brazil tax legislation”). As a result of this legislation, the Company expects to be subject to PIS and COFINS and CSLL beginning in the fourth quarter of 2023 and IRPJ beginning in 2024. 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 before provision for income taxes. The effective income tax rates for the thirteen and twenty-six weeks ended June 25, 2023 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, benefits of Brazil tax legislation that include a temporary reduction in the Brazilian income tax rate from 34% to 0%, and the revaluation of Brazilian deferred tax assets and liabilities as a result of the May 2023 Brazil tax legislation. The effective income tax rate for the thirteen weeks ended June 26, 2022 was lower than the Company’s blended federal and state statutory rate of approximately 26%. The income tax rate includes the impact of non-deductible losses associated with the 2025 Notes Partial Repurchase which, relative to the Loss before provision for income taxes during the quarter, resulted in a negative effective income tax rate. The effective income tax rate for the twenty-six weeks ended June 26, 2022 was higher than the statutory rate primarily due to the non-deductible losses associated with the 2025 Notes Partial Repurchase recorded during the twenty-six weeks ended June 26, 2022.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 25, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Litigation and Other Matters - The Company is subject to legal proceedings, claims and liabilities, such as liquor liability, slip and fall cases, wage and hour and other employment-related litigation, which arise in the ordinary course of business. A reserve is recorded when it is both: (i) probable that a loss has occurred and (ii) the amount of loss can be reasonably estimated. There may be instances in which an exposure to loss exceeds the recorded reserve. The Company evaluates, on a quarterly basis, developments in legal proceedings that could cause an increase or decrease in the amount of the reserve that has been previously recorded, or a revision to the disclosed estimated range of possible losses, as applicable. The Company’s legal proceedings range from cases brought by a single plaintiff to threatened class actions with many putative class members. While some matters pending against the Company specify the damages claimed by the plaintiff or class, many seek unspecified amounts or are at very early stages of the legal process. Even when the amount of damages claimed against the Company are stated, the claimed amount may be exaggerated, unsupported or unrelated to possible outcomes, and as such, are not meaningful indicators of the Company’s potential liability or financial exposure. As a result, some matters have not yet progressed sufficiently through discovery or development of important factual information and legal issues to enable the Company to estimate an amount of loss or a range of possible loss. The Company intends to defend itself in legal matters. Some of these matters may be covered, at least in part, by insurance if they exceed specified retention or deductible amounts. However, it is possible that claims may be denied by the Company’s insurance carriers, the Company may be required by its insurance carriers to contribute to the payment of claims, or the Company’s insurance coverage may not continue to be available on acceptable terms or in sufficient amounts. The Company records receivables from third party insurers when recovery has been determined to be probable. The Company believes that the ultimate determination of liability in connection with legal claims pending against the Company, if any, in excess of amounts already provided for such matters in the consolidated financial statements, will not have a material adverse effect on its business, annual results of operations, liquidity or financial position. However, it is possible that the Company’s business, results of operations, liquidity, or financial condition could be materially affected in a particular future reporting period by the unfavorable resolution of one or more matters or contingencies during such period. The Company recorded reserves of $16.4 million and $15.1 million for certain of its outstanding legal proceedings as of June 25, 2023 and December 25, 2022, 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. Lease Guarantees - The Company assigned its interest, and is contingently liable, under certain real estate leases. These leases have varying terms, the latest of which expires in 2032. As of June 25, 2023, the undiscounted payments that the Company could be required to make in the event of non-payment by the primary lessees was approximately $21.9 million. The present value of these potential payments discounted at the Company’s incremental borrowing rate as of June 25, 2023 was approximately $16.5 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 June 25, 2023 and December 25, 2022, the Company’s recorded contingent lease liability was $5.6 million and $6.2 million, respectively.

Segment Reporting

Segment Reporting	6 Months Ended
	Jun. 25, 2023
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting The following is a summary of reporting segments: REPORTABLE SEGMENT (1) CONCEPT GEOGRAPHIC LOCATION U.S. Outback Steakhouse United States of America Carrabba’s Italian Grill Bonefish Grill Fleming’s Prime Steakhouse & Wine Bar International Outback Steakhouse Brazil, Hong Kong/China Carrabba’s Italian Grill (Abbraccio) Brazil _________________ (1) Includes franchise locations. Segment accounting policies are the same as those described in Note 2 - Summary of Significant Accounting Policies in the Company’s Annual Report on Form 10-K for the year ended December 25, 2022. Revenues for all segments include only transactions with customers and exclude intersegment revenues. Excluded from Income from operations for U.S. and international are certain legal and corporate costs not directly related to the performance of the segments, most stock-based compensation expenses, certain insurance expenses and certain bonus expenses. The following table is a summary of revenues by segment for the periods indicated: THIRTEEN WEEKS ENDED TWENTY-SIX WEEKS ENDED (dollars in thousands) JUNE 25, 2023 JUNE 26, 2022 JUNE 25, 2023 JUNE 26, 2022 Revenues U.S. $ 1,005,229 $ 998,627 $ 2,098,225 $ 2,035,034 International 147,465 126,535 299,215 230,663 Total revenues $ 1,152,694 $ 1,125,162 $ 2,397,440 $ 2,265,697 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 TWENTY-SIX WEEKS ENDED (dollars in thousands) JUNE 25, 2023 JUNE 26, 2022 JUNE 25, 2023 JUNE 26, 2022 Segment income from operations U.S. $ 103,008 $ 104,620 $ 236,251 $ 236,846 International 20,486 14,126 44,994 23,010 Total segment income from operations 123,494 118,746 281,245 259,856 Unallocated corporate operating expense (34,048) (31,027) (71,166) (64,881) Total income from operations 89,446 87,719 210,079 194,975 Loss on extinguishment and modification of debt — (107,630) — (107,630) Loss on fair value adjustment of derivatives, net — (17,685) — (17,685) Interest expense, net (12,961) (12,548) (25,405) (26,181) Income (loss) before provision for income taxes $ 76,485 $ (50,144) $ 184,674 $ 43,479 The following table is a summary of Depreciation and amortization expense by segment for the periods indicated: THIRTEEN WEEKS ENDED TWENTY-SIX WEEKS ENDED (dollars in thousands) JUNE 25, 2023 JUNE 26, 2022 JUNE 25, 2023 JUNE 26, 2022 Depreciation and amortization U.S. $ 39,375 $ 33,544 $ 77,538 $ 68,303 International 6,126 6,019 12,045 11,556 Corporate 2,064 1,694 4,284 3,173 Total depreciation and amortization $ 47,565 $ 41,257 $ 93,867 $ 83,032 Geographic Areas - International assets are defined as assets residing in a country other than the U.S. The following table details long-lived assets, excluding goodwill, operating lease right-of-use assets, intangible assets and deferred tax assets, by major geographic area as of the periods indicated: (dollars in thousands) JUNE 25, 2023 DECEMBER 25, 2022 U.S. $ 945,616 $ 891,379 International Brazil 108,791 93,972 Other 8,970 10,938 Total long-lived assets $ 1,063,377 $ 996,289 International revenues are defined as revenues generated from restaurant sales originating in a country other than the U.S. The following table details Total revenues by major geographic area for the periods indicated: THIRTEEN WEEKS ENDED TWENTY-SIX WEEKS ENDED (dollars in thousands) JUNE 25, 2023 JUNE 26, 2022 JUNE 25, 2023 JUNE 26, 2022 U.S. $ 1,005,229 $ 998,627 $ 2,098,225 $ 2,035,034 International Brazil 126,245 106,505 265,239 196,605 Other 21,220 20,030 33,976 34,058 Total revenues $ 1,152,694 $ 1,125,162 $ 2,397,440 $ 2,265,697

Description of the Business a_2

Description of the Business and Basis of Presentation (Policies)	6 Months Ended
	Jun. 25, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of presentation	Basis of Presentation - The accompanying interim unaudited condensed consolidated financial statements have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission. Accordingly, they do not include all the information and footnotes required by generally accepted accounting principles in the United States (“U.S. GAAP”) for complete financial statements. In the opinion of the Company, all adjustments necessary for fair financial statement presentation for the periods presented have been included and are of a normal, recurring nature. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year. These financial statements should be read in conjunction with the audited financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 25, 2022.
Recently issued financial accounting standards not yet adopted	Recently Issued Financial Accounting Standards Not Yet Adopted - Recent accounting guidance not discussed herein is not applicable, did not have or is not expected to have a material impact to the Company.
Reclassifications	Reclassifications - The Company reclassified certain items in the accompanying consolidated financial statements for prior periods to be comparable with the classification for the current period, including, but not limited to, finance lease liabilities presented within other liabilities that were formerly presented within long-term debt, the separate presentation of current operating lease liabilities on the face of the Consolidated Balance Sheets and the presentation of certain items within the Condensed Consolidated Statements of Cash Flows. These reclassifications had no effect on previously reported net income.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
	Jun. 25, 2023
Revenue Recognition [Line Items]
Schedule of principal transactions, revenue	The following table includes the categories of revenue included in the Company’s Consolidated Statements of Operations and Comprehensive Income (Loss) for the periods indicated: THIRTEEN WEEKS ENDED TWENTY-SIX WEEKS ENDED (dollars in thousands) JUNE 25, 2023 JUNE 26, 2022 JUNE 25, 2023 JUNE 26, 2022 Revenues Restaurant sales $ 1,137,330 $ 1,108,918 $ 2,365,564 $ 2,232,493 Franchise and other revenues Franchise revenues 12,568 12,596 26,091 26,002 Other revenues 2,796 3,648 5,785 7,202 Total Franchise and other revenues 15,364 16,244 31,876 33,204 Total revenues $ 1,152,694 $ 1,125,162 $ 2,397,440 $ 2,265,697
Disaggregation of revenue	The following tables include the disaggregation of Restaurant sales and franchise revenues, by restaurant concept and major international market, for the periods indicated: THIRTEEN WEEKS ENDED JUNE 25, 2023 JUNE 26, 2022 (dollars in thousands) RESTAURANT SALES FRANCHISE REVENUES RESTAURANT SALES FRANCHISE REVENUES U.S. Outback Steakhouse $ 576,989 $ 8,219 $ 573,563 $ 8,156 Carrabba’s Italian Grill 176,666 758 170,190 797 Bonefish Grill 143,458 95 145,472 173 Fleming’s Prime Steakhouse & Wine Bar 92,851 — 93,933 — Other 3,474 10 2,769 8 U.S. total 993,438 9,082 985,927 9,134 International Outback Steakhouse - Brazil (1) 119,295 — 100,647 — Other (1)(2) 24,597 3,486 22,344 3,462 International total 143,892 3,486 122,991 3,462 Total $ 1,137,330 $ 12,568 $ 1,108,918 $ 12,596 TWENTY-SIX WEEKS ENDED JUNE 25, 2023 JUNE 26, 2022 (dollars in thousands) RESTAURANT SALES FRANCHISE REVENUES RESTAURANT SALES FRANCHISE REVENUES U.S. Outback Steakhouse $ 1,205,172 $ 16,763 $ 1,168,956 $ 16,615 Carrabba’s Italian Grill 364,708 1,553 345,818 1,458 Bonefish Grill 301,147 266 296,888 350 Fleming’s Prime Steakhouse & Wine Bar 195,624 — 191,595 — Other 7,356 25 6,305 13 U.S. total 2,074,007 18,607 2,009,562 18,436 International Outback Steakhouse - Brazil (1) 241,311 — 185,948 — Other (1)(2) 50,246 7,484 36,983 7,566 International total 291,557 7,484 222,931 7,566 Total $ 2,365,564 $ 26,091 $ 2,232,493 $ 26,002 ________________ (1) Restaurant sales in Brazil increased $9.6 million and $19.2 million during the thirteen and twenty-six weeks ended June 25, 2023, respectively, in connection with value added tax exemptions resulting from tax legislation. See Note 12 - Income Taxes for details regarding the Brazil tax legislation.
Contract with customers, asset and liability	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) JUNE 25, 2023 DECEMBER 25, 2022 Other current assets, net Deferred gift card sales commissions $ 12,694 $ 17,755 Unearned revenue Deferred gift card revenue $ 304,942 $ 386,495 Deferred loyalty revenue 5,391 5,628 Deferred franchise fees - current 472 460 Other 1,751 1,632 Total Unearned revenue $ 312,556 $ 394,215 Other long-term liabilities, net Deferred franchise fees - non-current $ 4,132 $ 4,126
Deferred gift card sales commissions
Revenue Recognition [Line Items]
Contract with customers, asset and liability	The following table is a rollforward of deferred gift card sales commissions for the periods indicated: THIRTEEN WEEKS ENDED TWENTY-SIX WEEKS ENDED (dollars in thousands) JUNE 25, 2023 JUNE 26, 2022 JUNE 25, 2023 JUNE 26, 2022 Balance, beginning of the period $ 13,403 $ 13,033 $ 17,755 $ 17,793 Deferred gift card sales commissions amortization (5,383) (5,441) (13,180) (13,458) Deferred gift card sales commissions capitalization 5,340 5,436 9,743 9,605 Other (666) (690) (1,624) (1,602) Balance, end of the period $ 12,694 $ 12,338 $ 12,694 $ 12,338
Unearned revenue
Revenue Recognition [Line Items]
Contract with customers, asset and liability	The following table is a rollforward of unearned gift card revenue for the periods indicated: THIRTEEN WEEKS ENDED TWENTY-SIX WEEKS ENDED (dollars in thousands) JUNE 25, 2023 JUNE 26, 2022 JUNE 25, 2023 JUNE 26, 2022 Balance, beginning of the period $ 314,096 $ 314,974 $ 386,495 $ 387,945 Gift card sales 65,338 65,174 118,343 115,454 Gift card redemptions (70,175) (72,428) (188,458) (189,050) Gift card breakage (4,317) (4,176) (11,438) (10,805) Balance, end of the period $ 304,942 $ 303,544 $ 304,942 $ 303,544

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	6 Months Ended
	Jun. 25, 2023
Earnings Per Share [Abstract]
Schedule of earnings (loss) per share, basic and diluted	The following table presents the computation of basic and diluted earnings (loss) per share for the periods indicated: THIRTEEN WEEKS ENDED TWENTY-SIX WEEKS ENDED (in thousands, except per share data) JUNE 25, 2023 JUNE 26, 2022 (1) JUNE 25, 2023 JUNE 26, 2022 Net income (loss) attributable to Bloomin’ Brands $ 68,277 $ (63,635) $ 159,588 $ 11,876 Basic weighted average common shares outstanding 88,559 88,898 88,838 89,127 Effect of dilutive securities: Stock options 395 — 398 305 Nonvested restricted stock units 132 — 201 192 Nonvested performance-based share units — — 143 143 Convertible senior notes (2) 5,002 — 4,917 8,253 Warrants (2) 3,313 — 3,209 4,025 Diluted weighted average common shares outstanding 97,401 88,898 97,706 102,045 Basic earnings (loss) per share $ 0.77 $ (0.72) $ 1.80 $ 0.13 Diluted earnings (loss) per share $ 0.70 $ (0.72) $ 1.63 $ 0.12 ______________ (1) Due to the Company’s net loss during the thirteen weeks ended June 26, 2022, the effect of dilutive securities was excluded from the computation of diluted earnings per share as their effect would be antidilutive.
Schedule of antidilutive securities excluded from computation of earnings (loss) per share	Share-based compensation-related weighted average securities outstanding not included in the computation of earnings (loss) per share because their effect was antidilutive were as follows for the periods indicated: THIRTEEN WEEKS ENDED TWENTY-SIX WEEKS ENDED (shares in thousands) JUNE 25, 2023 JUNE 26, 2022 JUNE 25, 2023 JUNE 26, 2022 Stock options 689 2,563 707 1,870 Nonvested restricted stock units 21 485 70 299 Nonvested performance-based share units 581 596 463 475

Stock-based Compensation Plans

Stock-based Compensation Plans (Tables)	6 Months Ended
	Jun. 25, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of compensation cost for stock-based payment arrangements, allocation of share-based compensation costs by plan	The Company recognized stock-based compensation expense, net of capitalized expense, as follows for the periods indicated: THIRTEEN WEEKS ENDED TWENTY-SIX WEEKS ENDED (dollars in thousands) JUNE 25, 2023 JUNE 26, 2022 JUNE 25, 2023 JUNE 26, 2022 Performance-based share units $ 2,297 $ 2,840 $ 3,220 $ 5,459 Restricted stock units 1,985 2,027 3,948 3,837 Stock options 835 55 835 432 Total stock-based compensation expense, net $ 5,117 $ 4,922 $ 8,003 $ 9,728
Schedule of nonvested performance-based units activity	The following table presents a summary of the Company’s PSU activity: (in thousands, except per unit data) PERFORMANCE-BASED SHARE UNITS WEIGHTED AVERAGE GRANT DATE FAIR VALUE PER UNIT AGGREGATE Outstanding as of December 25, 2022 874 $ 24.83 $ 18,323 Granted 301 $ 29.01 Performance adjustment (2) 154 $ 19.84 Vested (470) $ 19.84 Forfeited (32) $ 26.39 Outstanding as of June 25, 2023 827 $ 26.92 $ 21,308 Expected to vest as of June 25, 2023 (3) 1,067 $ 27,486 ________________ (1) Based on the $20.96 and $25.76 share price of the Company’s common stock on December 23, 2022 and June 23, 2023, the last trading day of the year ended December 25, 2022 and the twenty-six weeks ended June 25, 2023, respectively. (2) Represents adjustment to 148% payout for PSUs granted during 2020. (3) Estimated number of units to be issued upon the vesting of outstanding PSU awards based on Company performance projections of performance criteria set forth in the 2021, 2022 and 2023 PSU award agreements.
Monte Carlo schedule of assumptions used to calculate far value of PSUs	Assumptions used in the Monte Carlo simulation model and the grant date fair value of PSUs granted were as follows for the periods indicated: TWENTY-SIX WEEKS ENDED JUNE 25, 2023 JUNE 26, 2022 Assumptions: Risk-free interest rate (1) 4.26 % 1.64 % Dividend yield (2) 3.47 % 2.31 % Volatility (3) 51.02 % 49.11 % Grant date fair value per unit (4) $ 29.01 $ 26.10 ________________ (1) Risk-free interest rate is the U.S. Treasury yield curve in effect as of the grant date for the performance period of the unit. (2) Dividend yield is the level of dividends expected to be paid on the Company’s common stock over the expected term. (3) Based on the historical volatility of the Company’s stock over the last seven years.
Schedule of unrecognized compensation cost, nonvested awards	The following represents unrecognized stock-based compensation expense and the remaining weighted average vesting period as of June 25, 2023: UNRECOGNIZED COMPENSATION EXPENSE REMAINING WEIGHTED AVERAGE VESTING PERIOD (in years) Performance-based share units $ 14,306 1.7 Restricted stock units $ 11,917 2.0

Other Current Assets, Net (Tabl

Other Current Assets, Net (Tables)	6 Months Ended
	Jun. 25, 2023
Other Current Assets, Net [Abstract]
Schedule of other current assets	Other current assets, net, consisted of the following as of the periods indicated: (dollars in thousands) JUNE 25, 2023 DECEMBER 25, 2022 Prepaid expenses $ 24,387 $ 29,343 Accounts receivable - gift cards, net 15,754 85,606 Accounts receivable - vendors, net 15,638 25,385 Accounts receivable - franchisees, net 3,993 2,550 Accounts receivable - other, net 18,094 18,408 Deferred gift card sales commissions 12,694 17,755 Other current assets, net 6,210 4,671 $ 96,770 $ 183,718

Long-term Debt, Net (Tables)

Long-term Debt, Net (Tables)	6 Months Ended
	Jun. 25, 2023
Debt Disclosure [Abstract]
Schedule of long-term debt, net	Following is a summary of outstanding Long-term debt, net, as of the periods indicated: JUNE 25, 2023 DECEMBER 25, 2022 (dollars in thousands) OUTSTANDING BALANCE INTEREST RATE OUTSTANDING BALANCE INTEREST RATE Senior secured credit facility - revolving credit facility (1) $ 365,000 6.77 % $ 430,000 5.79 % 2025 Notes 104,786 5.00 % 105,000 5.00 % 2029 Notes 300,000 5.13 % 300,000 5.13 % Less: unamortized debt discount and issuance costs (5,788) (6,493) Long-term debt, net $ 763,998 $ 828,507 ________________ (1) Interest rate represents the weighted average interest rate as of the respective periods.

Convertible Senior Notes (Table

Convertible Senior Notes (Tables)	6 Months Ended
	Jun. 25, 2023
Convertible Notes [Abstract]
Convertible senior notes balances	The following table includes the outstanding principal amount and carrying value of the 2025 Notes as of the periods indicated: (dollars in thousands) JUNE 25, 2023 DECEMBER 25, 2022 Principal $ 104,786 $ 105,000 Less: debt issuance costs (1,542) (1,939) Net carrying amount $ 103,244 $ 103,061
Convertible senior notes interest expense	Following is a summary of interest expense for the 2025 Notes by component for the periods indicated: THIRTEEN WEEKS ENDED TWENTY-SIX WEEKS ENDED (dollars in thousands) JUNE 25, 2023 JUNE 26, 2022 JUNE 25, 2023 JUNE 26, 2022 Coupon interest $ 1,310 $ 2,597 $ 2,622 $ 5,472 Debt issuance cost amortization 198 370 394 774 Total interest expense (1) $ 1,508 $ 2,967 $ 3,016 $ 6,246 ________________ (1) The effective rate of the 2025 Notes over their expected life is 5.85%. The decrease in interest expense during the thirteen and twenty-six weeks ended June 25, 2023 relates to the 2025 Notes Partial Repurchase in May 2022.

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Jun. 25, 2023
Stockholders' Equity Attributable to Parent [Abstract]
Schedule of repurchases of common stock	Following is a summary of the shares repurchased during fiscal year 2023: (in thousands, except per share data) NUMBER OF SHARES AVERAGE REPURCHASE PRICE PER SHARE AMOUNT First fiscal quarter 863 $ 23.92 $ 20,645 Second fiscal quarter 619 $ 25.11 15,539 Total common stock repurchases (1) 1,482 $ 24.42 $ 36,184 ________________ (1) Excludes excise tax on share repurchases. Subsequent to June 25, 2023, the Company repurchased 269 thousand shares of its common stock for $7.3 million under a Rule 10b5-1 plan.
Dividends declared and paid	The Company declared and paid dividends per share during fiscal year 2023 as follows: (dollars in thousands, except per share data) DIVIDENDS PER SHARE AMOUNT First fiscal quarter $ 0.24 $ 21,014 Second fiscal quarter 0.24 20,990 Total cash dividends declared and paid $ 0.48 $ 42,004
Other comprehensive income	Following are the components of Other comprehensive income attributable to Bloomin’ Brands for the periods indicated: THIRTEEN WEEKS ENDED TWENTY-SIX WEEKS ENDED (dollars in thousands) JUNE 25, 2023 JUNE 26, 2022 JUNE 25, 2023 JUNE 26, 2022 Foreign currency translation adjustment $ 4,502 $ 11,940 $ 3,368 $ 23,223 Unrealized gain on derivatives, net of tax — — — 573 Reclassification of adjustments for loss on derivatives included in Net income (loss), net of tax — 273 — 954 Impact of terminated interest rate swaps included in Net income (loss), net of tax — 2,164 — 5,185 Total gain on derivatives, net of tax — 2,437 — 6,712 Other comprehensive income attributable to Bloomin’ Brands $ 4,502 $ 14,377 $ 3,368 $ 29,935

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 25, 2023
Leases [Abstract]
Assets and liabilities, lessee	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 SHEET CLASSIFICATION JUNE 25, 2023 DECEMBER 25, 2022 Operating lease right-of-use assets Operating lease right-of-use assets $ 1,089,218 $ 1,103,083 Finance lease right-of-use assets (1) Property, fixtures and equipment, net 10,045 4,679 Total lease assets, net $ 1,099,263 $ 1,107,762 Current operating lease liabilities Current operating lease liabilities $ 185,362 $ 183,510 Current finance lease liabilities Accrued and other current liabilities 2,508 1,636 Non-current operating lease liabilities (2) Non-current operating lease liabilities 1,131,843 1,148,379 Non-current finance lease liabilities Other long-term liabilities, net 8,037 3,149 Total lease liabilities $ 1,327,750 $ 1,336,674 ________________ (1) Net of accumulated amortization of $3.5 million and $3.6 million as of June 25, 2023 and December 25, 2022, respectively.
Lease, cost	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 TWENTY-SIX WEEKS ENDED (dollars in thousands) JUNE 25, 2023 JUNE 26, 2022 JUNE 25, 2023 JUNE 26, 2022 Operating lease cost (1) Other restaurant operating $ 46,237 $ 45,579 $ 91,984 $ 90,940 Variable lease cost Other restaurant operating 1,629 1,619 3,353 3,502 Finance lease costs: Amortization of leased assets Depreciation and amortization 549 356 1,037 693 Interest on lease liabilities Interest expense, net 174 44 310 76 Sublease revenue Franchise and other revenues (1,635) (2,436) (3,343) (4,994) Lease costs, net $ 46,954 $ 45,162 $ 93,341 $ 90,217 ________________ (1) Excludes rent expense for office facilities and Company-owned closed or subleased properties of $3.0 million and $3.1 million for the thirteen weeks ended June 25, 2023 and June 26, 2022, respectively, and $6.0 million and $6.1 million for the twenty-six weeks ended June 25, 2023 and June 26, 2022, respectively, which is included in General and administrative expense.
Cash flow, operating activities	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: TWENTY-SIX WEEKS ENDED (dollars in thousands) JUNE 25, 2023 JUNE 26, 2022 Cash flows from operating activities: Cash paid for amounts included in the measurement of operating lease liabilities $ 97,804 $ 97,255

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 25, 2023
Fair Value Disclosures [Abstract]
Fair value measurement inputs and valuation techniques	Fair value is categorized into one of the following three levels based on the lowest level of significant input: Level 1 Unadjusted quoted market prices in active markets for identical assets or liabilities Level 2 Observable inputs available at measurement date other than quoted prices included in Level 1 Level 3 Unobservable inputs that cannot be corroborated by observable market data
Schedule of assets measured at fair value on a recurring basis	The following table summarizes the Company’s financial assets measured at fair value by hierarchy level on a recurring basis as of the periods indicated: JUNE 25, 2023 DECEMBER 25, 2022 (dollars in thousands) TOTAL LEVEL 1 TOTAL LEVEL 1 Assets (1): Cash equivalents: Fixed income funds $ 11,715 $ 11,715 $ 3,301 $ 3,301 Money market funds 8,880 8,880 4,786 4,786 Total asset recurring fair value measurements $ 20,595 $ 20,595 $ 8,087 $ 8,087 ________________ (1) Carrying value approximates fair value because maturities are less than three months.
Schedule of carrying value and fair value of senior secured credit facility and other unsecured debt	The following table includes the carrying value and fair value of the Company’s debt by hierarchy level as of the periods indicated: JUNE 25, 2023 DECEMBER 25, 2022 (dollars in thousands) CARRYING VALUE FAIR VALUE LEVEL 2 CARRYING VALUE FAIR VALUE LEVEL 2 Senior secured credit facility - revolving credit facility $ 365,000 $ 365,000 $ 430,000 $ 430,000 2025 Notes $ 104,786 $ 241,722 $ 105,000 $ 198,843 2029 Notes $ 300,000 $ 269,343 $ 300,000 $ 260,265

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
	Jun. 25, 2023
Income Tax Disclosure [Abstract]
Schedule of effective income tax rate reconciliation	THIRTEEN WEEKS ENDED TWENTY-SIX WEEKS ENDED (dollars in thousands) JUNE 25, 2023 JUNE 26, 2022 JUNE 25, 2023 JUNE 26, 2022 Income (loss) before provision for income taxes $ 76,485 $ (50,144) $ 184,674 $ 43,479 Provision for income taxes $ 6,483 $ 11,536 $ 21,244 $ 27,465 Effective income tax rate 8.5 % (23.0) % 11.5 % 63.2 %

Segment Reporting (Tables)

Segment Reporting (Tables)	6 Months Ended
	Jun. 25, 2023
Segment Reporting [Abstract]
Schedule of segment reporting information, by segment	The following is a summary of reporting segments: REPORTABLE SEGMENT (1) CONCEPT GEOGRAPHIC LOCATION U.S. Outback Steakhouse United States of America Carrabba’s Italian Grill Bonefish Grill Fleming’s Prime Steakhouse & Wine Bar International Outback Steakhouse Brazil, Hong Kong/China Carrabba’s Italian Grill (Abbraccio) Brazil _________________ (1) Includes franchise locations.
Reconciliation of revenue from segments to consolidated	The following table is a summary of revenues by segment for the periods indicated: THIRTEEN WEEKS ENDED TWENTY-SIX WEEKS ENDED (dollars in thousands) JUNE 25, 2023 JUNE 26, 2022 JUNE 25, 2023 JUNE 26, 2022 Revenues U.S. $ 1,005,229 $ 998,627 $ 2,098,225 $ 2,035,034 International 147,465 126,535 299,215 230,663 Total revenues $ 1,152,694 $ 1,125,162 $ 2,397,440 $ 2,265,697
Reconciliation of operating profit from segments to consolidated	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 TWENTY-SIX WEEKS ENDED (dollars in thousands) JUNE 25, 2023 JUNE 26, 2022 JUNE 25, 2023 JUNE 26, 2022 Segment income from operations U.S. $ 103,008 $ 104,620 $ 236,251 $ 236,846 International 20,486 14,126 44,994 23,010 Total segment income from operations 123,494 118,746 281,245 259,856 Unallocated corporate operating expense (34,048) (31,027) (71,166) (64,881) Total income from operations 89,446 87,719 210,079 194,975 Loss on extinguishment and modification of debt — (107,630) — (107,630) Loss on fair value adjustment of derivatives, net — (17,685) — (17,685) Interest expense, net (12,961) (12,548) (25,405) (26,181) Income (loss) before provision for income taxes $ 76,485 $ (50,144) $ 184,674 $ 43,479
Reconciliation of segment depreciation and amortization	The following table is a summary of Depreciation and amortization expense by segment for the periods indicated: THIRTEEN WEEKS ENDED TWENTY-SIX WEEKS ENDED (dollars in thousands) JUNE 25, 2023 JUNE 26, 2022 JUNE 25, 2023 JUNE 26, 2022 Depreciation and amortization U.S. $ 39,375 $ 33,544 $ 77,538 $ 68,303 International 6,126 6,019 12,045 11,556 Corporate 2,064 1,694 4,284 3,173 Total depreciation and amortization $ 47,565 $ 41,257 $ 93,867 $ 83,032
Schedule of long-lived assets, by geographic area	The following table details long-lived assets, excluding goodwill, operating lease right-of-use assets, intangible assets and deferred tax assets, by major geographic area as of the periods indicated: (dollars in thousands) JUNE 25, 2023 DECEMBER 25, 2022 U.S. $ 945,616 $ 891,379 International Brazil 108,791 93,972 Other 8,970 10,938 Total long-lived assets $ 1,063,377 $ 996,289
Schedule of revenues, by geographic area	The following table details Total revenues by major geographic area for the periods indicated: THIRTEEN WEEKS ENDED TWENTY-SIX WEEKS ENDED (dollars in thousands) JUNE 25, 2023 JUNE 26, 2022 JUNE 25, 2023 JUNE 26, 2022 U.S. $ 1,005,229 $ 998,627 $ 2,098,225 $ 2,035,034 International Brazil 126,245 106,505 265,239 196,605 Other 21,220 20,030 33,976 34,058 Total revenues $ 1,152,694 $ 1,125,162 $ 2,397,440 $ 2,265,697

Description of the Business a_3

Description of the Business and Basis of Presentation (Description of the Business) (Details)	Jun. 25, 2023 restaurant_concept
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Restaurant concepts in portfolio	4

Revenue Recognition (Principal

Revenue Recognition (Principal Revenue Transactions) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 25, 2023	Jun. 26, 2022	Jun. 25, 2023	Jun. 26, 2022
Disaggregation of Revenue [Line Items]
Restaurant sales, franchise and other revenues	$ 1,152,694	$ 1,125,162	$ 2,397,440	$ 2,265,697
Restaurant sales
Disaggregation of Revenue [Line Items]
Restaurant sales, franchise and other revenues	1,137,330	1,108,918	2,365,564	2,232,493
Franchise and other revenues
Disaggregation of Revenue [Line Items]
Restaurant sales, franchise and other revenues	15,364	16,244	31,876	33,204
Franchise revenues
Disaggregation of Revenue [Line Items]
Restaurant sales, franchise and other revenues	12,568	12,596	26,091	26,002
Other revenues
Disaggregation of Revenue [Line Items]
Restaurant sales, franchise and other revenues	$ 2,796	$ 3,648	$ 5,785	$ 7,202

Revenue Recognition (Disaggrega

Revenue Recognition (Disaggregated Revenue) (Details) - USD ($) $ in Thousands		3 Months Ended			6 Months Ended
		Jun. 25, 2023		Jun. 26, 2022	Jun. 25, 2023		Jun. 26, 2022
Disaggregation of Revenue [Line Items]
Restaurant sales, franchise and other revenues		$ 1,152,694		$ 1,125,162	$ 2,397,440		$ 2,265,697
U.S. segment
Disaggregation of Revenue [Line Items]
Restaurant sales, franchise and other revenues		1,005,229		998,627	2,098,225		2,035,034
International segment
Disaggregation of Revenue [Line Items]
Restaurant sales, franchise and other revenues		147,465		126,535	299,215		230,663
International segment | Brazil
Disaggregation of Revenue [Line Items]
Restaurant sales, franchise and other revenues		126,245		106,505	265,239		196,605
Restaurant sales
Disaggregation of Revenue [Line Items]
Restaurant sales, franchise and other revenues		1,137,330		1,108,918	2,365,564		2,232,493
Restaurant sales | U.S. segment
Disaggregation of Revenue [Line Items]
Restaurant sales, franchise and other revenues		993,438		985,927	2,074,007		2,009,562
Restaurant sales | International segment
Disaggregation of Revenue [Line Items]
Restaurant sales, franchise and other revenues		143,892		122,991	291,557		222,931
Restaurant sales | International segment | Brazil | Brazilian tax legislation
Disaggregation of Revenue [Line Items]
Restaurant sales, franchise and other revenues		9,600			19,200
Restaurant sales | Outback Steakhouse
Disaggregation of Revenue [Line Items]
Restaurant sales, franchise and other revenues		576,989		573,563	1,205,172		1,168,956
Restaurant sales | Carrabba’s Italian Grill
Disaggregation of Revenue [Line Items]
Restaurant sales, franchise and other revenues		176,666		170,190	364,708		345,818
Restaurant sales | Bonefish Grill
Disaggregation of Revenue [Line Items]
Restaurant sales, franchise and other revenues		143,458		145,472	301,147		296,888
Restaurant sales | Fleming’s Prime Steakhouse & Wine Bar
Disaggregation of Revenue [Line Items]
Restaurant sales, franchise and other revenues		92,851		93,933	195,624		191,595
Restaurant sales | Other - U.S.
Disaggregation of Revenue [Line Items]
Restaurant sales, franchise and other revenues		3,474		2,769	7,356		6,305
Restaurant sales | Outback Steakhouse - Brazil
Disaggregation of Revenue [Line Items]
Restaurant sales, franchise and other revenues		119,295	[1]	100,647	241,311	[1]	185,948
Restaurant sales | Other - international
Disaggregation of Revenue [Line Items]
Restaurant sales, franchise and other revenues	[2]	24,597	[1]	22,344	50,246	[1]	36,983
Franchise revenues
Disaggregation of Revenue [Line Items]
Restaurant sales, franchise and other revenues		12,568		12,596	26,091		26,002
Franchise revenues | U.S. segment
Disaggregation of Revenue [Line Items]
Restaurant sales, franchise and other revenues		9,082		9,134	18,607		18,436
Franchise revenues | International segment
Disaggregation of Revenue [Line Items]
Restaurant sales, franchise and other revenues		3,486		3,462	7,484		7,566
Franchise revenues | Outback Steakhouse
Disaggregation of Revenue [Line Items]
Restaurant sales, franchise and other revenues		8,219		8,156	16,763		16,615
Franchise revenues | Carrabba’s Italian Grill
Disaggregation of Revenue [Line Items]
Restaurant sales, franchise and other revenues		758		797	1,553		1,458
Franchise revenues | Bonefish Grill
Disaggregation of Revenue [Line Items]
Restaurant sales, franchise and other revenues		95		173	266		350
Franchise revenues | Fleming’s Prime Steakhouse & Wine Bar
Disaggregation of Revenue [Line Items]
Restaurant sales, franchise and other revenues		0		0	0		0
Franchise revenues | Other - U.S.
Disaggregation of Revenue [Line Items]
Restaurant sales, franchise and other revenues		10		8	25		13
Franchise revenues | Outback Steakhouse - Brazil
Disaggregation of Revenue [Line Items]
Restaurant sales, franchise and other revenues		0		0	0		0
Franchise revenues | Other - international
Disaggregation of Revenue [Line Items]
Restaurant sales, franchise and other revenues	[2]	$ 3,486		$ 3,462	$ 7,484		$ 7,566
[1] Restaurant sales in Brazil increased $9.6 million and $19.2 million during the thirteen and twenty-six weeks ended June 25, 2023, respectively, in connection with value added tax exemptions resulting from tax legislation. See Note 12 - Income Taxes

Revenue Recognition (Contract A

Revenue Recognition (Contract Assets and Liabilities Summary) (Details) - USD ($) $ in Thousands	Jun. 25, 2023	Mar. 26, 2023	Dec. 25, 2022	Jun. 26, 2022	Mar. 27, 2022	Dec. 26, 2021
Revenue Recognition [Line Items]
Deferred gift card sales commissions, current	$ 12,694	$ 13,403	$ 17,755	$ 12,338	$ 13,033	$ 17,793
Unearned revenue	312,556		394,215
Deferred gift card revenue
Revenue Recognition [Line Items]
Unearned revenue	304,942	$ 314,096	386,495	$ 303,544	$ 314,974	$ 387,945
Deferred gift card sales commissions
Revenue Recognition [Line Items]
Deferred gift card sales commissions, current	12,694		17,755
Unearned revenue
Revenue Recognition [Line Items]
Unearned revenue	312,556		394,215
Unearned revenue | Deferred gift card revenue
Revenue Recognition [Line Items]
Unearned revenue	304,942		386,495
Unearned revenue | Deferred loyalty revenue
Revenue Recognition [Line Items]
Unearned revenue	5,391		5,628
Unearned revenue | Deferred franchise fees
Revenue Recognition [Line Items]
Unearned revenue	472		460
Unearned revenue | Other
Revenue Recognition [Line Items]
Unearned revenue	1,751		1,632
Other long-term liabilities, net | Deferred franchise fees
Revenue Recognition [Line Items]
Deferred franchise fees - non-current	$ 4,132		$ 4,126

Revenue Recognition (Contract_2

Revenue Recognition (Contract Assets and Liabilities - Deferred Gift Card Commissions Rollforward) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 25, 2023	Jun. 26, 2022	Jun. 25, 2023	Jun. 26, 2022
Revenue Recognition and Deferred Revenue [Abstract]
Balance, beginning of the period	$ 13,403	$ 13,033	$ 17,755	$ 17,793
Deferred gift card sales commissions amortization	(5,383)	(5,441)	(13,180)	(13,458)
Deferred gift card sales commissions capitalization	5,340	5,436	9,743	9,605
Other	(666)	(690)	(1,624)	(1,602)
Balance, end of the period	$ 12,694	$ 12,338	$ 12,694	$ 12,338

Revenue Recognition (Contract_3

Revenue Recognition (Contract Assets and Liabilities - Deferred Gift Card Revenue Rollforward) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 25, 2023	Jun. 26, 2022	Jun. 25, 2023	Jun. 26, 2022
Revenue Recognition [Line Items]
Balance, beginning of the period			$ 394,215
Balance, end of the period	$ 312,556		312,556
Deferred gift card revenue
Revenue Recognition [Line Items]
Balance, beginning of the period	314,096	$ 314,974	386,495	$ 387,945
Gift card sales	65,338	65,174	118,343	115,454
Gift card redemptions	(70,175)	(72,428)	(188,458)	(189,050)
Gift card breakage	(4,317)	(4,176)	(11,438)	(10,805)
Balance, end of the period	$ 304,942	$ 303,544	$ 304,942	$ 303,544

Earnings (Loss) Per Share (Basi

Earnings (Loss) Per Share (Basic and Diluted EPS) (Details) - USD ($) $ / shares in Units, shares in Thousands	3 Months Ended			6 Months Ended
	Jun. 25, 2023	Jun. 26, 2022		Jun. 25, 2023	Jun. 26, 2022
Schedule of earnings (loss) per share, basic and diluted [Line Items]
Net income (loss) attributable to Bloomin’ Brands	$ 68,277,000	$ (63,635,000)	[1]	$ 159,588,000	$ 11,876,000
Basic weighted average common shares outstanding	88,559	88,898	[1]	88,838	89,127
Effect of dilutive securities:
Convertible senior notes (in shares)	5,002	0	[1],[2]	4,917	8,253	[2]
Warrants (in shares)	3,313	0	[1],[2]	3,209	4,025	[2]
Diluted weighted average common shares outstanding (in shares)	97,401	88,898	[1]	97,706	102,045
Basic earnings (loss) per share (in USD per share)	$ 0.77	$ (0.72)	[1]	$ 1.80	$ 0.13
Diluted earnings (loss) per share (in USD per share)	$ 0.70	$ (0.72)	[1]	$ 1.63	$ 0.12
2025 Notes | Convertible debt
Effect of dilutive securities:
2025 Notes repurchase amount		$ 125,000,000
Stock options
Effect of dilutive securities:
Dilutive shares (in shares)	395	0	[1]	398	305
Nonvested restricted stock units
Effect of dilutive securities:
Dilutive shares (in shares)	132	0	[1]	201	192
Nonvested performance-based share units
Effect of dilutive securities:
Dilutive shares (in shares)	0	0	[1]	143	143
[1]Due to the Company’s net loss during the thirteen weeks ended June 26, 2022, the effect of dilutive securities was excluded from the computation of diluted earnings per share as their effect would be antidilutive.[2] (2) During the thirteen weeks ended June 26, 2022, the Company repurchased $125.0 million of the convertible notes due in 2025 and settled the corresponding portion of the related note hedges and warrants (the “2025 Notes Partial Repurchase”).

Earnings (Loss) Per Share (Anti

Earnings (Loss) Per Share (Antidilutive Securities) (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 25, 2023	Jun. 26, 2022	Jun. 25, 2023	Jun. 26, 2022
Stock options
Antidilutive securities excluded from computation of earnings (loss) per share [Line Items]
Antidilutive securities not included in the computation of earnings (loss) per share (in shares)	689	2,563	707	1,870
Nonvested restricted stock units
Antidilutive securities excluded from computation of earnings (loss) per share [Line Items]
Antidilutive securities not included in the computation of earnings (loss) per share (in shares)	21	485	70	299
Nonvested performance-based share units
Antidilutive securities excluded from computation of earnings (loss) per share [Line Items]
Antidilutive securities not included in the computation of earnings (loss) per share (in shares)	581	596	463	475

Stock-based Compensation Plan_2

Stock-based Compensation Plans (Stock-based Compensation Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 25, 2023	Jun. 26, 2022	Jun. 25, 2023	Jun. 26, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense	$ 5,117	$ 4,922	$ 8,003	$ 9,728
Performance-based share units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense	2,297	2,840	3,220	5,459
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense	1,985	2,027	3,948	3,837
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense	$ 835	$ 55	$ 835	$ 432

Stock-based Compensation Plan_3

Stock-based Compensation Plans (PSU - Text) (Details) - Performance-based share units	1 Months Ended
	Feb. 28, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, total shareholder return modifier, option 1	75%
Share-based compensation arrangement by share-based payment award, total shareholder return modifier, option 2	100%
Share-based compensation arrangement by share-based payment award, total shareholder return modifier, option 3	125%
Share-based compensation arrangement by share-based payment award, award vesting period	3 years
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, award vesting rights, percentage	200%

Stock-based Compensation Plan_4

Stock-based Compensation Plans (PSU Activity - Table) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands		6 Months Ended
		Jun. 25, 2023	Jun. 23, 2023	Dec. 23, 2022
Common stock
WEIGHTED AVERAGE GRANT DATE FAIR VALUE PER UNIT
Share price applicable to outstanding share-based compensation (in USD per share)			$ 25.76	$ 20.96
Performance-based share units
PERFORMANCE-BASED SHARE UNITS
Outstanding as of December 25, 2022 (in shares)		874
Granted (in shares)		301
Performance adjustment (in shares)	[1]	154
Vested (in shares)		(470)
Forfeited (in shares)		(32)
Outstanding as of June 25, 2023 (in shares)		827
Expected to vest as of June 25, 2023 (in shares)	[2]	1,067
WEIGHTED AVERAGE GRANT DATE FAIR VALUE PER UNIT
Outstanding as of December 25, 2022 (in USD per share)		$ 24.83
Granted (in USD per share)		29.01
Performance adjustment (in USD per share)	[1]	19.84
Vested (in USD per share)		19.84
Forfeited (in USD per share)		26.39
Outstanding as of June 25, 2023 (in USD per share)		$ 26.92
Aggregate intrinsic value as of December 25, 2022	[3]	$ 18,323
Aggregate intrinsic value as of June 25, 2023	[3]	21,308
Aggregate intrinsic value, expected to vest as of June 25, 2023	[2],[3]	$ 27,486
Performance-based share units | 2020 PSU grant
WEIGHTED AVERAGE GRANT DATE FAIR VALUE PER UNIT
Share-based compensation arrangement by share-based payment award, award vesting rights, percentage		148%
[1]Represents adjustment to 148% payout for PSUs granted during 2020.[2]Estimated number of units to be issued upon the vesting of outstanding PSU awards based on Company performance projections of performance criteria set forth in the 2021, 2022 and 2023 PSU award agreements.[3]Based on the $20.96 and $25.76 share price of the Company’s common stock on December 23, 2022 and June 23, 2023, the last trading day of the year ended December 25, 2022 and the twenty-six weeks ended June 25, 2023, respectively.

Stock-based Compensation Plan_5

Stock-based Compensation Plans (Assumptions Used in the Monte Carlo Simulation Model and the Grant Date Fair Value of PSUs Granted) (Details) - Performance-based share units - $ / shares		6 Months Ended
		Jun. 25, 2023	Jun. 26, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	[1]	4.26%	1.64%
Dividend yield	[2]	3.47%	2.31%
Volatility	[3]	51.02%	49.11%
Grant date fair value per unit	[4]	$ 29.01	$ 26.10
Share-based compensation arrangement by share-based payment award, stock price premium, percentage		2.70%	7.90%
[1]Risk-free interest rate is the U.S. Treasury yield curve in effect as of the grant date for the performance period of the unit.[2]Dividend yield is the level of dividends expected to be paid on the Company’s common stock over the expected term.[3]Based on the historical volatility of the Company’s stock over the last seven years.[4]Represents a premium above the grant date per share value of the Company’s common stock for the Relative TSR modifier of 2.7% and 7.9% during the twenty-six weeks ended June 25, 2023 and June 26, 2022, respectively.

Stock-based Compensation Plan_6

Stock-based Compensation Plans (Unrecognized Stock Compensation Expense and the Remaining Weighted-Average Vesting Period) (Details) $ in Thousands	6 Months Ended
	Jun. 25, 2023 USD ($)
Performance-based share units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation, nonvested awards, compensation expense not yet recognized, stock-based awards other than options	$ 14,306
Employee service share-based compensation, nonvested awards, compensation expense not yet recognized, period for recognition	1 year 8 months 12 days
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation, nonvested awards, compensation expense not yet recognized, stock-based awards other than options	$ 11,917
Employee service share-based compensation, nonvested awards, compensation expense not yet recognized, period for recognition	2 years

Other Current Assets, Net (Deta

Other Current Assets, Net (Details) - USD ($) $ in Thousands	Jun. 25, 2023	Mar. 26, 2023	Dec. 25, 2022	Jun. 26, 2022	Mar. 27, 2022	Dec. 26, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Prepaid expenses	$ 24,387		$ 29,343
Deferred gift card sales commissions	12,694	$ 13,403	17,755	$ 12,338	$ 13,033	$ 17,793
Other current assets, net	6,210		4,671
Total other current assets, net	96,770		183,718
Accounts receivable - gift cards, net
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, net	15,754		85,606
Accounts receivable - vendors, net
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, net	15,638		25,385
Accounts receivable - franchisees, net
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, net	3,993		2,550
Accounts receivable - other, net
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, net	$ 18,094		$ 18,408

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets, Net (Details) - USD ($)	3 Months Ended
	Jun. 25, 2023	Jun. 26, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Impairment charges	$ 0	$ 0
Impairment of intangible assets, indefinite-lived (excluding goodwill)	$ 0	$ 0

Long-term Debt, Net (Schedule o

Long-term Debt, Net (Schedule of Long-term Debt, Net) (Details) - USD ($) $ in Thousands		Jun. 25, 2023	Dec. 25, 2022	Jun. 26, 2022
Debt Instrument [Line Items]
Less: unamortized debt discount and issuance costs		$ (5,788)	$ (6,493)
Long-term debt, net		763,998	828,507
Secured debt | Revolving credit facility | Senior secured credit facility - revolving credit facility
Debt Instrument [Line Items]
Senior secured credit facility - revolving credit facility		$ 365,000	$ 430,000
Debt instrument, effective interest rate	[1]	6.77%	5.79%
Convertible debt | 2025 Notes
Debt Instrument [Line Items]
Long-term debt, gross		$ 104,786	$ 105,000
Debt instrument, effective interest rate		5.85%		5.85%
Debt instrument, interest rate, stated percentage		5%	5%
Unsecured debt | 2029 Notes
Debt Instrument [Line Items]
Long-term debt, gross		$ 300,000	$ 300,000
Debt instrument, interest rate, stated percentage		5.13%	5.13%
[1]Interest rate represents the weighted average interest rate as of the respective periods.

Convertible Senior Notes (Conve

Convertible Senior Notes (Convertible Notes Text) (Details) - Convertible debt - 2025 Notes $ / shares in Units, shares in Thousands	May 24, 2023 USD ($) $ / shares shares
Debt Instrument [Line Items]
Debt instrument, convertible, conversion price | $ / shares	$ 11.37
Debt instrument, convertible, conversion ratio	87.962
Debt instrument, convertible principal amount | $	$ 1,000
Debt conversion, converted instrument, shares to be issued | shares	9,217

Convertible Senior Notes (Con_2

Convertible Senior Notes (Convertible Senior Notes Balances) (Details) - 2025 Notes - Convertible debt - USD ($) $ in Thousands	Jun. 25, 2023	Dec. 25, 2022
Debt Instrument [Line Items]
Principal	$ 104,786	$ 105,000
Less: debt issuance costs	(1,542)	(1,939)
Net carrying amount	$ 103,244	$ 103,061

Convertible Senior Notes (Con_3

Convertible Senior Notes (Convertible Senior Notes Interest Expense) (Details) - 2025 Notes - Convertible debt - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 25, 2023	Jun. 26, 2022	Jun. 25, 2023	Jun. 26, 2022
Debt Instrument [Line Items]
Coupon interest		$ 1,310	$ 2,597	$ 2,622	$ 5,472
Debt issuance cost amortization		198	370	394	774
Total interest expense	[1]	$ 1,508	$ 2,967	$ 3,016	$ 6,246
Debt instrument, effective interest rate		5.85%	5.85%	5.85%	5.85%
[1]The effective rate of the 2025 Notes over their expected life is 5.85%. The decrease in interest expense during the thirteen and twenty-six weeks ended June 25, 2023 relates to the 2025 Notes Partial Repurchase in May 2022.

Stockholders' Equity (Share Rep

Stockholders' Equity (Share Repurchases) (Details) - USD ($) $ / shares in Units, shares in Thousands	1 Months Ended	3 Months Ended			6 Months Ended
	Aug. 01, 2023	Jun. 25, 2023	Mar. 26, 2023	Jun. 26, 2022	Jun. 25, 2023		Jun. 26, 2022	Feb. 07, 2023
Share Repurchase Program [Line Items]
Repurchase and retirement of common stock		$ 15,570,000		$ 35,749,000	$ 36,232,000		$ 47,451,000
Subsequent event
Share Repurchase Program [Line Items]
Repurchase and retirement of common stock (in shares)	269
Repurchase and retirement of common stock	$ 7,300,000
2022 and 2023 share repurchase program
Share Repurchase Program [Line Items]
Repurchase and retirement of common stock (in shares)			863		1,482	[1]
Stock repurchase program, average price paid (in USD per share)			$ 23.92		$ 24.42	[1]
Repurchase and retirement of common stock			$ 20,645,000		$ 36,184,000	[1]
2023 share repurchase program
Share Repurchase Program [Line Items]
Stock repurchase program, authorized amount								$ 125,000,000
Stock repurchase program, remaining authorized repurchase amount		$ 103,800,000			$ 103,800,000
Repurchase and retirement of common stock (in shares)				619
Stock repurchase program, average price paid (in USD per share)				$ 25.11
Repurchase and retirement of common stock				$ 15,539,000
[1]Excludes excise tax on share repurchases. Subsequent to June 25, 2023, the Company repurchased 269 thousand shares of its common stock for $7.3 million under a Rule 10b5-1 plan.

Stockholders' Equity (Dividend)

Stockholders' Equity (Dividend) (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended			6 Months Ended
	Jul. 31, 2023	Jun. 25, 2023	Mar. 26, 2023	Jun. 26, 2022	Jun. 25, 2023	Jun. 26, 2022
Dividends payable [Line Items]
Common stock, dividends, cash paid (in USD per share)		$ 0.24	$ 0.24		$ 0.48
Dividends, common stock, cash		$ 20,990	$ 21,014	$ 12,418	$ 42,004	$ 24,977
Common stock, dividends declared (in USD per share)		$ 0.24		$ 0.14	$ 0.48	$ 0.28
Subsequent event
Dividends payable [Line Items]
Common stock, dividends declared (in USD per share)	$ 0.24
Dividends payable, date to be paid	Aug. 25, 2023
Dividends payable, date of record	Aug. 14, 2023

Stockholders' Equity (Other Com

Stockholders' Equity (Other Comprehensive Income) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 25, 2023	Jun. 26, 2022	Jun. 25, 2023	Jun. 26, 2022
Other comprehensive income [Line Items]
Unrealized gain on derivatives, net of tax	$ 0	$ 0	$ 0	$ 573
Reclassification of adjustments for loss on derivatives included in Net income (loss), net of tax	0	273	0	954
Impact of terminated interest rate swaps included in Net income (loss), net of tax	0	2,164	0	5,185
Other comprehensive income attributable to Bloomin’ Brands	4,502	14,377	3,368	29,935
Bloomin' Brands
Other comprehensive income [Line Items]
Foreign currency translation adjustment	4,502	11,940	3,368	23,223
Unrealized gain on derivatives, net of tax	0	0	0	573
Reclassification of adjustments for loss on derivatives included in Net income (loss), net of tax	0	273	0	954
Impact of terminated interest rate swaps included in Net income (loss), net of tax	0	2,164	0	5,185
Total gain on derivatives, net of tax	0	2,437	0	6,712
Other comprehensive income attributable to Bloomin’ Brands	$ 4,502	$ 14,377	$ 3,368	$ 29,935

Leases (Lessee, Lease Assets an

Leases (Lessee, Lease Assets and Liabilities) (Details) - USD ($) $ in Thousands		Jun. 25, 2023	Dec. 25, 2022
Leases [Abstract]
Operating lease right-of-use assets		$ 1,089,218	$ 1,103,083
Finance lease right-of-use assets	[1]	$ 10,045	$ 4,679
Finance lease, right-of-use asset, statement of financial position [Extensible Enumeration]		Property, fixtures and equipment, net	Property, fixtures and equipment, net
Total lease assets, net		$ 1,099,263	$ 1,107,762
Current operating lease liabilities		$ 185,362	$ 183,510
Operating lease, liability, current, statement of financial position [Extensible Enumeration]		Current operating lease liabilities	Current operating lease liabilities
Current finance lease liabilities		$ 2,508	$ 1,636
Finance lease, liability, current, statement of financial position [Extensible Enumeration]		Accrued and other current liabilities	Accrued and other current liabilities
Non-current operating lease liabilities	[2]	$ 1,131,843	$ 1,148,379
Non-current finance lease liabilities		$ 8,037	$ 3,149
Finance lease, liability, noncurrent, statement of financial position [Extensible Enumeration]		Other long-term liabilities, net	Other long-term liabilities, net
Total lease liabilities		$ 1,327,750	$ 1,336,674
Accumulated amortization		$ (3,500)	$ (3,600)
[1]Net of accumulated amortization of $3.5 million and $3.6 million as of June 25, 2023 and December 25, 2022, respectively.[2]Excludes immaterial COVID-19-related deferred rent accruals.

Leases (Lessee, Lease Costs) (D

Leases (Lessee, Lease Costs) (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 25, 2023	Jun. 26, 2022	Jun. 25, 2023	Jun. 26, 2022
Schedule of Lease Costs [Line Items]
Operating lease cost	[1]	$ 46,237	$ 45,579	$ 91,984	$ 90,940
Variable lease cost		1,629	1,619	3,353	3,502
Amortization of leased assets		549	356	1,037	693
Interest on lease liabilities		174	44	310	76
Sublease revenue		(1,635)	(2,436)	(3,343)	(4,994)
Lease costs, net		46,954	45,162	93,341	90,217
General and administrative expense
Schedule of Lease Costs [Line Items]
Operating lease cost		$ 3,000	$ 3,100	$ 6,000	$ 6,100
[1]Excludes rent expense for office facilities and Company-owned closed or subleased properties of $3.0 million and $3.1 million for the thirteen weeks ended June 25, 2023 and June 26, 2022, respectively, and $6.0 million and $6.1 million for the twenty-six weeks ended June 25, 2023 and June 26, 2022, respectively, which is included in General and administrative expense.

Leases (Other Information) (Det

Leases (Other Information) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 25, 2023	Jun. 26, 2022
Leases [Abstract]
Cash paid for amounts included in the measurement of operating lease liabilities	$ 97,804	$ 97,255

Fair Value Measurements (Fair V

Fair Value Measurements (Fair Value Measurements on a Recurring Basis) (Details) - Fair value, measurements, recurring - USD ($) $ in Thousands		Jun. 25, 2023	Dec. 25, 2022
Carrying value measurement
Fair Value, Assets on Recurring and Nonrecurring Basis [Line Items]
Total asset recurring fair value measurements	[1]	$ 20,595	$ 8,087
Fair value, inputs, level 1
Fair Value, Assets on Recurring and Nonrecurring Basis [Line Items]
Total asset recurring fair value measurements	[1]	20,595	8,087
Fixed income funds | Carrying value measurement
Fair Value, Assets on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents, fair value disclosure	[1]	11,715	3,301
Fixed income funds | Fair value, inputs, level 1
Fair Value, Assets on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents, fair value disclosure	[1]	11,715	3,301
Money market funds | Carrying value measurement
Fair Value, Assets on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents, fair value disclosure	[1]	8,880	4,786
Money market funds | Fair value, inputs, level 1
Fair Value, Assets on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents, fair value disclosure	[1]	$ 8,880	$ 4,786
[1]Carrying value approximates fair value because maturities are less than three months.

Fair Value Measurements (Carryi

Fair Value Measurements (Carrying Value and Fair Value of Debt by Hierarchy Level) (Details) - USD ($) $ in Thousands	Jun. 25, 2023	Dec. 25, 2022
Secured debt | Senior secured credit facility - revolving credit facility | Fair value, inputs, level 2 | Revolving credit facility
Fair Value, Assets on Recurring and Nonrecurring Basis [Line Items]
Loans payable, fair value	$ 365,000	$ 430,000
Secured debt | Senior secured credit facility - revolving credit facility | Carrying value measurement | Revolving credit facility
Fair Value, Assets on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value	365,000	430,000
Convertible debt | 2025 Notes | Fair value, inputs, level 2
Fair Value, Assets on Recurring and Nonrecurring Basis [Line Items]
Convertible debt, fair value	241,722	198,843
Convertible debt | 2025 Notes | Carrying value measurement
Fair Value, Assets on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value	104,786	105,000
Unsecured debt | 2029 Notes | Fair value, inputs, level 2
Fair Value, Assets on Recurring and Nonrecurring Basis [Line Items]
Notes payable, fair value	269,343	260,265
Unsecured debt | 2029 Notes | Carrying value measurement
Fair Value, Assets on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value	$ 300,000	$ 300,000

Income Taxes (Change in Effecti

Income Taxes (Change in Effective Rate) (Details) - USD ($) $ in Thousands	1 Months Ended		3 Months Ended		6 Months Ended
	May 31, 2023	Sep. 30, 2022	Jun. 25, 2023	Jun. 26, 2022	Jun. 25, 2023	Jun. 26, 2022
Income Tax Holiday [Line Items]
Income (loss) before provision for income taxes			$ 76,485	$ (50,144)	$ 184,674	$ 43,479
Provision for income taxes			$ 6,483	$ 11,536	$ 21,244	$ 27,465
Effective income tax rate			8.50%	(23.00%)	11.50%	63.20%
Change in effective income tax rate			31.50%		(51.70%)
Blended federal and state statutory income tax rate					26%	26%
Brazil | Secretariat of the Federal Revenue Bureau of Brazil
Income Tax Holiday [Line Items]
Effective income tax rate reconciliation, at federal statutory income tax rate, percent		34%
Brazilian tax legislation | Brazil | Secretariat of the Federal Revenue Bureau of Brazil
Income Tax Holiday [Line Items]
Effective income tax rate reconciliation, at federal statutory income tax rate, percent		0%
Effective income tax rate reconciliation, tax holiday, percent	100%	100%
Tax holiday, duration	5 years	5 years

Commitments and Contingencies (

Commitments and Contingencies (Litigation and Other Matters) (Details) - USD ($) $ in Millions	Jun. 25, 2023	Dec. 25, 2022
Commitments and Contingencies Disclosure [Abstract]
Estimated litigation liability	$ 16.4	$ 15.1

Commitments and Contingencies_2

Commitments and Contingencies (Lease Guarantees) (Details) - Property lease guarantee - USD ($) $ in Millions	Jun. 25, 2023	Dec. 25, 2022
Loss Contingencies [Line Items]
Guarantor obligations, maximum exposure, undiscounted	$ 21.9
Guarantee obligations, maximum exposure at present value	16.5
Lease guarantee contingent liabilities	$ 5.6	$ 6.2

Segment Reporting (Revenue by S

Segment Reporting (Revenue by Segment) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 25, 2023	Jun. 26, 2022	Jun. 25, 2023	Jun. 26, 2022
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenues	$ 1,152,694	$ 1,125,162	$ 2,397,440	$ 2,265,697
U.S. segment
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenues	1,005,229	998,627	2,098,225	2,035,034
International segment
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenues	$ 147,465	$ 126,535	$ 299,215	$ 230,663

Segment Reporting (Income from

Segment Reporting (Income from Operations Reconciliation) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 25, 2023	Jun. 26, 2022	Jun. 25, 2023	Jun. 26, 2022
Segment Reporting, Reconciling Item for Operating Profit from Segment to Consolidated [Line Items]
Income from operations	$ 89,446	$ 87,719	$ 210,079	$ 194,975
Loss on extinguishment and modification of debt	0	(107,630)	0	(107,630)
Loss on fair value adjustment of derivatives, net	0	(17,685)	0	(17,685)
Interest expense, net	(12,961)	(12,548)	(25,405)	(26,181)
Income (loss) before provision for income taxes	76,485	(50,144)	184,674	43,479
Operating segments
Segment Reporting, Reconciling Item for Operating Profit from Segment to Consolidated [Line Items]
Income from operations	123,494	118,746	281,245	259,856
Operating segments | U.S. segment
Segment Reporting, Reconciling Item for Operating Profit from Segment to Consolidated [Line Items]
Income from operations	103,008	104,620	236,251	236,846
Operating segments | International segment
Segment Reporting, Reconciling Item for Operating Profit from Segment to Consolidated [Line Items]
Income from operations	20,486	14,126	44,994	23,010
Corporate, non-segment
Segment Reporting, Reconciling Item for Operating Profit from Segment to Consolidated [Line Items]
Income from operations	$ (34,048)	$ (31,027)	$ (71,166)	$ (64,881)

Segment Reporting (Depreciation

Segment Reporting (Depreciation and Amortization by Segment) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 25, 2023	Jun. 26, 2022	Jun. 25, 2023	Jun. 26, 2022
Segment Reporting, Other Significant Reconciling Item [Line Items]
Depreciation and amortization	$ 47,565	$ 41,257	$ 93,867	$ 83,032
Operating segments | U.S. segment
Segment Reporting, Other Significant Reconciling Item [Line Items]
Depreciation and amortization	39,375	33,544	77,538	68,303
Operating segments | International segment
Segment Reporting, Other Significant Reconciling Item [Line Items]
Depreciation and amortization	6,126	6,019	12,045	11,556
Corporate, non-segment
Segment Reporting, Other Significant Reconciling Item [Line Items]
Depreciation and amortization	$ 2,064	$ 1,694	$ 4,284	$ 3,173

Segment Reporting (Long-lived A

Segment Reporting (Long-lived Assets by Geographic Area) (Details) - USD ($) $ in Thousands	Jun. 25, 2023	Dec. 25, 2022
Segment Reporting, Revenue Reconciling Item [Line Items]
Long-lived assets	$ 1,063,377	$ 996,289
U.S. | U.S. segment
Segment Reporting, Revenue Reconciling Item [Line Items]
Long-lived assets	945,616	891,379
Brazil | International segment
Segment Reporting, Revenue Reconciling Item [Line Items]
Long-lived assets	108,791	93,972
Other - international | International segment
Segment Reporting, Revenue Reconciling Item [Line Items]
Long-lived assets	$ 8,970	$ 10,938

Segment Reporting (Geographic A

Segment Reporting (Geographic Areas) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 25, 2023	Jun. 26, 2022	Jun. 25, 2023	Jun. 26, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]
Restaurant sales, franchise and other revenues	$ 1,152,694	$ 1,125,162	$ 2,397,440	$ 2,265,697
U.S. segment
Revenues from External Customers and Long-Lived Assets [Line Items]
Restaurant sales, franchise and other revenues	1,005,229	998,627	2,098,225	2,035,034
U.S. segment | U.S.
Revenues from External Customers and Long-Lived Assets [Line Items]
Restaurant sales, franchise and other revenues	1,005,229	998,627	2,098,225	2,035,034
International segment
Revenues from External Customers and Long-Lived Assets [Line Items]
Restaurant sales, franchise and other revenues	147,465	126,535	299,215	230,663
International segment | Brazil
Revenues from External Customers and Long-Lived Assets [Line Items]
Restaurant sales, franchise and other revenues	126,245	106,505	265,239	196,605
International segment | Other - international
Revenues from External Customers and Long-Lived Assets [Line Items]
Restaurant sales, franchise and other revenues	$ 21,220	$ 20,030	$ 33,976	$ 34,058