View Filing Data

Other restaurant operating

$ 578,459

$ 1,021,930

$ 1,586,796

$ 2,150,061

Costs and expenses

Cost of sales

180,758

312,679

500,451

664,790

Labor and other related

205,537

301,213

514,806

620,228

177,846

240,895

424,401

491,749

Depreciation and amortization

45,784

49,788

94,052

99,270

General and administrative

55,487

71,955

140,289

142,544

Provision for impaired assets and restaurant closings

24,959

1,940

66,277

5,526

Total costs and expenses

690,371

978,470

1,740,276

2,024,107

(Loss) income from operations

(111,912)

43,460

(153,480)

125,954

Loss on modification of debt

(237)

Other income (expense), net

581

(212)

(156)

Interest expense, net

(16,639)

(12,448)

(28,347)

(23,629)

(Loss) income before (benefit) provision for income taxes

(128,207)

31,024

(182,276)

102,169

(Benefit) provision for income taxes

(35,779)

1,215

(55,434)

6,711

Less: net (loss) income attributable to noncontrolling interests

(92,428)

29,809

(126,842)

95,458

(172)

788

2,137

Net (loss) income attributable to Bloomin’ Brands

(92,256)

29,021

(126,867)

93,321

Redemption of preferred stock in excess of carrying value

(3,496)

^[1]

Net (loss) income attributable to common stockholders

(92,256)

29,021

(130,363)

93,321

Other comprehensive (loss) income:

Foreign currency translation adjustment

(29,146)

(8,476)

(37,107)

(2,721)

Unrealized loss on derivatives, net of tax

(1,556)

(7,239)

(14,892)

(11,620)

Reclassification of adjustment for loss (gain) on derivatives included in Net (loss) income, net of tax

2,585

130

3,981

(234)

Comprehensive (loss) income

(120,545)

14,224

(174,860)

80,883

Less: comprehensive (loss) income attributable to noncontrolling interests

(172)

896

(639)

2,153

Comprehensive (loss) income attributable to Bloomin’ Brands

$ (120,373)

$ 13,328

$ (174,221)

$ 78,730

(Loss) earnings per share attributable to common stockholders:

Basic (loss) earnings per share

$ (1.05)

$ 0.32

$ (1.49)

$ 1.03

Diluted (loss) earnings per share

$ (1.05)

$ 0.32

$ (1.49)

$ 1.02

Weighted average common shares outstanding:

Basic (shares)

87,496

90,194

87,312

90,805

Diluted (shares)

87,496

90,953

87,312

91,807

Restaurant sales [Member]

Revenues

Franchise and other revenues [Member]

$ 576,261

$ 1,005,687

$ 1,572,498

$ 2,117,329

Revenues

Balance (in shares) at Dec. 30, 2018

$ 2,198

$ 16,243

$ 14,298

$ 32,732

[1]

Consideration paid in excess of carrying value for the redemption of preferred stock is considered a deemed dividend and, for purposes of calculating earnings per share, reduces net income attributable to common stockholders for the twenty-six weeks ended June 28, 2020. See Note 14 - Stockholders’ Equity for additional details.

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($)
$ in Thousands

Total

Common stock [Member]

Additional paid-in capital [Member]

Accumulated deficit [Member]

Accumulated other comprehensive loss [Member]

Non-controlling interests [Member]

91,272,000

Balance at Dec. 30, 2018

$ 54,817

$ 913

$ 1,107,582

$ (920,010)

$ (142,755)

$ 9,087

Increase (Decrease) in Stockholders' Equity [Roll Forward]

95,458

93,321

2,137

Cash dividends declared per common share (in dollars per share)

$ (14,575)

(14,625)

$ 0.20

Repurchase and retirement of common stock (in shares)

$ (18,367)

(18,367)

(5,469,000)

Repurchase and retirement of common stock

(106,992)

$ (55)

(106,937)

9,130

^[1]

1,024,000

Purchase of noncontrolling interests

^[1]

1,420

$ 10

1,410

(41)

(157)

(4,007)

Balance (in shares) at Jun. 30, 2019

465

86,827,000

Balance at Jun. 30, 2019

158,593

$ 868

1,099,598

(792,341)

(157,346)

7,814

Balance (in shares) at Mar. 31, 2019

91,647,000

Balance at Mar. 31, 2019

252,363

$ 916

1,099,346

(714,425)

(141,653)

8,179

Increase (Decrease) in Stockholders' Equity [Roll Forward]

29,809

29,021

788

Cash dividends declared per common share (in dollars per share)

$ (15,585)

(15,727)

142

$ 0.10

Repurchase and retirement of common stock (in shares)

$ (9,227)

(9,227)

(5,469,000)

Repurchase and retirement of common stock

(106,992)

$ (55)

(106,937)

5,137

^[1]

649,000

Purchase of noncontrolling interests

^[1]

4,506

$ 7

4,499

(41)

(157)

(1,578)

Balance (in shares) at Jun. 30, 2019

201

86,827,000

Balance at Jun. 30, 2019

$ 158,593

$ 868

1,099,598

(792,341)

(157,346)

7,814

Balance (in shares) at Dec. 29, 2019

86,945,869

86,946,000

Balance at Dec. 29, 2019

$ 177,481

$ 869

1,094,338

(755,089)

(169,776)

7,139

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Consideration for preferred stock in excess of carrying value, net of tax

(17,480)

(3,500)

Balance (in shares) at Mar. 29, 2020

87,417,000

Balance at Mar. 29, 2020

$ 100,143

$ 874

1,074,081

(793,992)

(189,013)

8,193

Balance (in shares) at Dec. 29, 2019

86,945,869

86,946,000

Balance at Dec. 29, 2019

$ 177,481

$ 869

1,094,338

(755,089)

(169,776)

7,139

Increase (Decrease) in Stockholders' Equity [Roll Forward]

(126,842)

(126,867)

Cash dividends declared per common share (in dollars per share)

$ (48,018)

(47,871)

(147)

$ 0.20

$ (17,480)

(17,480)

Consideration for preferred stock in excess of carrying value, net of tax

8,360

(1,718)

(3,496)

517

1,261

^[1]

588,000

Purchase of noncontrolling interests

^[1]

(2,862)

$ 6

(2,868)

(57)

(58)

(338)

Adjustments to additional paid in capital, equity component of convertible debt, tax effect

147

650

Equity component value of convertible note issuance, net

64,367

Sale of common stock warrant

46,690

Purchase of convertible note hedge

$ (66,240)

(66,240)

Balance (in shares) at Jun. 28, 2020

87,533,599

87,534,000

Balance at Jun. 28, 2020

$ 29,198

$ 875

1,123,613

(886,248)

(217,130)

8,088

Balance (in shares) at Mar. 29, 2020

87,417,000

Balance at Mar. 29, 2020

100,143

$ 874

1,074,081

(793,992)

(189,013)

8,193

Increase (Decrease) in Stockholders' Equity [Roll Forward]

(92,428)

(92,256)

(172)

(28,117)

5,071

^[1]

117,000

^[1]

(355)

$ 1

(356)

(27)

Adjustments to additional paid in capital, equity component of convertible debt, tax effect

650

Equity component value of convertible note issuance, net

64,367

Sale of common stock warrant

46,690

Purchase of convertible note hedge

$ (66,240)

(66,240)

Balance (in shares) at Jun. 28, 2020

87,533,599

87,534,000

Balance at Jun. 28, 2020

$ 29,198

$ 875

$ 1,123,613

$ (886,248)

$ (217,130)

$ 8,088

[1]	Net of forfeitures and shares withheld for employee taxes.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019
Cash flows (used in) provided by operating activities:
Net (loss) income	$ (126,842)	$ 95,458
Adjustments to reconcile Net (loss) income to cash (used in) provided by operating activities:
Depreciation and amortization	94,052	99,270
Amortization of debt discounts and issuance costs	2,966	1,255
Amortization of deferred gift card sales commissions	11,592	14,089
Provision for impaired assets and restaurant closings	66,277	5,526
Non-cash operating lease costs	36,230	36,096
Provision for expected credit losses and contingent lease liabilities	7,447	0
Inventory obsolescence and spoilage	6,413	0
Stock-based and other non-cash compensation expense	8,360	12,854
Deferred income tax benefit	(58,578)	(945)
Loss on sale of a business or subsidiary	0	214
Loss on modification of debt	237	0
Loss on disposal of property, fixtures and equipment	1,014	328
Other, net	(1,228)	(4,627)
Change in assets and liabilities	(51,253)	(127,075)
Net cash (used in) provided by operating activities	(3,313)	132,443
Cash flows used in investing activities:
Proceeds from disposal of property, fixtures and equipment	422	1,717
Proceeds from sale-leaseback transactions, net	0	3,052
Capital expenditures	(53,205)	(80,773)
Other investments, net	4,782	2,150
Net cash used in investing activities	(48,001)	(73,854)
Cash flows provided by (used in) financing activities:
Repayments of long-term debt and finance lease obligations	(13,242)	(14,031)
Proceeds from borrowings on revolving credit facilities, net	505,000	408,000
Repayments of borrowings on revolving credit facilities	(489,000)	(321,200)
Financing fees	(3,096)	0
Proceeds from issuance of convertible senior notes	230,000	0
Proceeds from issuance of warrants	46,690	0
Purchase of convertible note hedge	(66,240)	0
Issuance costs related to convertible senior notes	(8,416)	0
(Payments of taxes) proceeds from share-based compensation, net	(2,862)	1,420
Distributions to noncontrolling interests	(338)	(4,007)
Contributions from noncontrolling interests	147	465
Purchase of limited partnership and noncontrolling interests	(57)	(41)
Payments for partner equity plan	(9,976)	(8,662)
Repurchase of common stock	0	(106,992)
Cash dividends paid on common stock	(17,480)	(18,367)
Redemption of subsidiary preferred stock	(1,475)	0
Net cash provided by (used in) financing activities	169,655	(63,415)
Effect of exchange rate changes on cash and cash equivalents	(2,955)	(157)
Net increase (decrease) in cash, cash equivalents and restricted cash	115,386	(4,983)
Cash, cash equivalents and restricted cash as of the beginning of the period	67,145	71,823
Cash, cash equivalents and restricted cash as of the end of the period	182,531	66,840
Supplemental disclosures of cash flow information:
Cash paid for interest	23,595	25,263
Cash paid for income taxes, net of refunds	5,287	11,309
Supplemental disclosures of non-cash investing and financing activities:
Leased assets obtained in exchange for new operating lease liabilities	13,549	33,679
Leased assets obtained in exchange for new finance lease liabilities	538	194
Decrease in liabilities from the acquisition of property, fixtures and equipment	$ (9,666)	$ (5,494)

Description of the Business and Basis of Presentation	6 Months Ended
Description of the Business and Basis of Presentation	Jun. 28, 2020
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 consolidated financial statements have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). 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 29, 2019. Risks and Uncertainties - In March 2020, the World Health Organization declared the novel strain of coronavirus (“COVID-19”) a global pandemic and recommended containment and mitigation measures worldwide. In response to COVID-19, the Company temporarily closed all restaurant dining rooms in the U.S. as of March 20, 2020 and shifted operations to provide only take-out and delivery service, resulting in significantly reduced traffic in its restaurants. In early May 2020, the Company began to reopen its restaurant dining rooms with limited seating capacity in compliance with state and local regulations and as of June 28, 2020 had reopened substantially all of its restaurant dining rooms with limited seating capacity. The temporary closure of the Company’s dining rooms and the limitations on seating capacity in its reopened dining rooms have resulted in significantly reduced traffic in the Company’s restaurants. The negative effect of COVID-19 on the Company’s business was significant during the thirteen and twenty-six weeks ended June 28, 2020. See Note 2 - COVID-19 Charges for details regarding the financial impact of the COVID-19 pandemic on the Company’s financial results. The duration and severity of the COVID-19 pandemic and its long-term impact on the Company’s business are uncertain at this time. Given the daily evolution of the pandemic and the global responses to curb its spread, the Company may be unable to accurately estimate the effects of the pandemic on its results of operations, financial condition, or liquidity for the foreseeable future. Recently Adopted Financial Accounting Standards - On December 30, 2019, the Company adopted Accounting Standards Update (“ASU”) No. 2016-13, “Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments,” (“ASU No. 2016-13”), which requires measurement and recognition of losses for financial instruments under the current expected credit loss model versus incurred losses under previous guidance. The Company’s adoption of ASU No. 2016-13 and its related amendments (“the new credit loss standard”) resulted in a cumulative-effect debit adjustment to the beginning balance of Accumulated deficit of $4.3 million, including $4.8 million of contingent lease liabilities related to lease guarantees and $1.0 million of incremental reserve for credit losses, net of the $1.5 million net increase in related deferred tax assets. Measurement processes and related controls have been implemented by the Company to ensure compliance with the new credit loss standard. See Note 18 - Allowance for Expected Credit Losses for additional details regarding the Company’s allowance for expected credit losses. On December 30, 2019, the Company adopted ASU No. 2018-15, “Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract,” (“ASU No. 2018-15”), which clarifies the accounting for implementation costs in cloud computing arrangements. Under ASU No. 2018-15, implementation costs incurred by customers in cloud computing arrangements are deferred and recognized over the term of the arrangement similar to internal-use software guidance. The Company contracts with 3^rd party information technology providers for various service arrangements including software, platform and information technology infrastructure. The capitalized implementation costs are recorded within Other assets, net on the Company’s Consolidated Balance Sheets and are amortized on a straight-line basis over the term of the hosting arrangements, including reasonably certain renewal periods, within the same financial statement line as the related hosting fees. The amortization of the Company’s current arrangements is recorded in General and administrative expense in the Company’s Consolidated Statements of Operations and Comprehensive (Loss) Income. The Company’s prospective adoption of ASU No. 2018-15 did not have a material effect on its consolidated financial statements. In March 2020, the Financial Accounting Standards Board (the “FASB”) issued ASU No. 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting,” (“ASU No. 2020-04”). The new guidance provides optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships and other transactions affected by reference rate reform if certain criteria are met. ASU No. 2020-04 was effective beginning March 12, 2020 and may be applied prospectively to contract modifications made and hedging relationships entered into or evaluated on or before December 31, 2022. The Company has elected to apply the hedge accounting expedients related to hedge effectiveness for future LIBOR-indexed cash flows, which enables the Company to continue to apply hedge accounting to hedging relationships impacted by reference rate reform. Application of these expedients allows for presentation of derivatives consistent with the Company’s historical presentation. The Company continues to evaluate the impact of the guidance and may apply other elections, as applicable. 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. These reclassifications had no effect on previously reported net income.

COVID-19 Impact

6 Months Ended

Jun. 28, 2020

COVID-19 Impact [Abstract]

COVID-19 Charges

Following is a summary of the charges recorded in connection with the COVID-19 pandemic for the periods indicated below (dollars in thousands):


CHARGES	CONSOLIDATED INCOME STATEMENT CLASSIFICATION	THIRTEEN WEEKS ENDED		TWENTY-SIX WEEKS ENDED
				JUNE 28, 2020		JUNE 28, 2020
Inventory obsolescence and spoilage (1)	Cost of sales	$	1,163	$	7,345

Compensation for idle employees (2)	Labor and other related	11,388		27,574
Other operating charges	Other restaurant operating	2,467		2,467
Lease guarantee contingent liabilities (3)	General and administrative	—		4,188
Allowance for expected credit losses (4)	General and administrative	—		3,334
Other charges	General and administrative	1,216		1,789
Right-of-use asset impairment (5)	Provision for impaired assets and restaurant closings	5,273		25,757
Fixed asset impairment (5)	Provision for impaired assets and restaurant closings	19,611		31,339
Goodwill and other impairment (6)	Provision for impaired assets and restaurant closings	611		2,999

		$	41,729	$	106,792

________________

(1)Includes the write-off of value added tax credits in the twenty-six weeks ended June 28, 2020 related to the purchase of inventory by the Company’s Brazil subsidiary.

(2)Represents relief pay for hourly employees impacted by the closure of dining rooms, net of $13.7 million of employee retention tax credits earned during the thirteen and twenty-six weeks ended June 28, 2020.

(3)Represents additional contingent liabilities recorded for lease guarantees related to certain former restaurant locations now operated by franchisees or other third parties.

(4)Includes additional reserves based on the Company’s increase in expected credit losses, primarily related to franchise receivables.

(5)Includes impairments resulting from the remeasurement of assets utilizing projected future cash flows revised for current economic conditions, restructuring charges and the closure of certain restaurants. See Note 4 - Impairments, Exit Costs and Disposals for details regarding COVID-19 Restructuring costs.

(6)Includes impairment of goodwill for the Company’s Hong Kong subsidiary during the twenty-six weeks ended June 28, 2020. See Note 9 - Goodwill and Intangible Assets, Net for details regarding impairment of goodwill.

Revenue Recognition

6 Months Ended

Jun. 28, 2020

Revenue Recognition [Abstract]

Revenue Recognition

The following table includes the categories of revenue included in the Company’s Consolidated Statements of Operations and Comprehensive (Loss) Income for the periods indicated:


	THIRTEEN WEEKS ENDED						TWENTY-SIX WEEKS ENDED
(dollars in thousands)	JUNE 28, 2020		JUNE 30, 2019		JUNE 28, 2020		JUNE 30, 2019
Revenues
Restaurant sales	$	576,261	$	1,005,687	$	1,572,498	$	2,117,329
Franchise and other revenues
Franchise revenue	$	1,951	$	12,792	$	11,500	$	26,554
Other revenue	247		3,451		2,798		6,178
Total Franchise and other revenues	$	2,198	$	16,243	$	14,298	$	32,732
Total revenues	$	578,459	$	1,021,930	$	1,586,796	$	2,150,061

The following tables include the disaggregation of Restaurant sales and Franchise revenue, by restaurant concept and major international market, for the periods indicated:


	THIRTEEN WEEKS ENDED
	JUNE 28, 2020						JUNE 30, 2019
(dollars in thousands)	RESTAURANT SALES		FRANCHISE REVENUE		RESTAURANT SALES		FRANCHISE REVENUE
U.S.
Outback Steakhouse	$	346,553	$	136	$	527,049	$	9,586
Carrabba’s Italian Grill	93,738		7		150,000		626
Bonefish Grill	63,744		4		148,065		200
Fleming’s Prime Steakhouse & Wine Bar	31,156		—		74,397		—
Other	1,576		—		1,105		—
U.S. total	$	536,767	$	147	$	900,616	$	10,412
International
Outback Steakhouse Brazil	$	24,003	$	—	$	83,985	$	—
Other (1)	15,491		1,804		21,086		2,380
International total	$	39,494	$	1,804	$	105,071	$	2,380
Total	$	576,261	$	1,951	$	1,005,687	$	12,792

________________

(1)Includes Restaurant sales for the Company’s Abbraccio concept in Brazil.


















	TWENTY-SIX WEEKS ENDED
	JUNE 28, 2020						JUNE 30, 2019
(dollars in thousands)	RESTAURANT SALES		FRANCHISE REVENUE		RESTAURANT SALES		FRANCHISE REVENUE
U.S.
Outback Steakhouse	$	877,238	$	6,677	$	1,113,820	$	20,187
Carrabba’s Italian Grill	240,613		468		323,475		797
Bonefish Grill	198,816		140		304,499		410
Fleming’s Prime Steakhouse & Wine Bar	102,116		—		157,423		—
Other	2,873		—		2,212		—
U.S. total	$	1,421,656	$	7,285	$	1,901,429	$	21,394
International
Outback Steakhouse Brazil	$	115,593	$	—	$	173,550	$	—
Other (1)	35,249		4,215		42,350		5,160
International total	$	150,842	$	4,215	$	215,900	$	5,160
Total	$	1,572,498	$	11,500	$	2,117,329	$	26,554

________________

(1)Includes Restaurant sales for the Company’s Abbraccio concept in Brazil.

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 28, 2020		DECEMBER 29, 2019
Other current assets, net
Deferred gift card sales commissions	$	13,624	$	18,554

Unearned revenue
Deferred gift card revenue	$	279,973	$	358,757
Deferred loyalty revenue (1)	13,177		10,034
Deferred franchise fees - current	477		491

Total Unearned revenue	$	293,627	$	369,282

Other long-term liabilities, net
Deferred franchise fees - non-current	$	4,278	$	4,599

________________

(1)During the twenty-six weeks ended June 28, 2020, the Company extended the expiration dates of certain awards under its Dine Rewards program to June 30, 2020 in response to the interruption COVID-19 had to the Company’s business.

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 28, 2020		JUNE 30, 2019		JUNE 28, 2020		JUNE 30, 2019
Balance, beginning of period	$	13,049	$	11,195	$	18,554	$	16,431
Deferred gift card sales commissions amortization	(2,502)		(5,682)		(11,592)		(14,089)
Deferred gift card sales commissions capitalization	3,142		5,399		7,466		9,232
Other	(65)		(424)		(804)		(1,086)
Balance, end of period	$	13,624	$	10,488	$	13,624	$	10,488

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 28, 2020		JUNE 30, 2019		JUNE 28, 2020		JUNE 30, 2019
Balance, beginning of period	$	277,518	$	240,923	$	358,757	$	333,794
Gift card sales	41,649		75,658		100,088		131,130
Gift card redemptions	(37,404)		(84,942)		(170,585)		(226,401)
Gift card breakage	(1,790)		(4,267)		(8,287)		(11,151)
Balance, end of period	$	279,973	$	227,372	$	279,973	$	227,372

Impairments, Exit Costs and Disposals

6 Months Ended

Jun. 28, 2020

Impairments, Exit Costs and Disposals [Abstract]

Impairments, Exit Costs and Disposals

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


	THIRTEEN WEEKS ENDED						TWENTY-SIX WEEKS ENDED
(dollars in thousands)	JUNE 28, 2020		JUNE 30, 2019		JUNE 28, 2020		JUNE 30, 2019
Impairment losses
U.S.	$	23,741	$	165	$	54,713	$	3,629
International (1)	296		1,767		3,468		1,785
Corporate	(119)		—		6,161		—
Total impairment losses	$	23,918	$	1,932	$	64,342	$	5,414
Restaurant closure expenses
U.S.	$	1,041	$	8	$	1,762	$	95
International	—		—		173		17
Total restaurant closure expenses	$	1,041	$	8	$	1,935	$	112
Provision for impaired assets and restaurant closings	$	24,959	$	1,940	$	66,277	$	5,526

________________

(1)Includes goodwill impairment charges of $2.0 million during the twenty-six weeks ended June 28, 2020. See Note 9 - Goodwill and Intangible Assets, Net for details regarding impairment of goodwill.

During the thirteen and twenty-six weeks ended June 28, 2020, the Company recognized asset impairment and closure charges related to the COVID-19 pandemic of $25.0 million and $56.3 million, respectively, in the U.S. segment (including charges related to the COVID-19 Restructuring discussed below) and $0.3 million and $3.6 million, respectively, in the international segment. The Company also recognized asset impairment charges related to transformational initiatives of $6.3 million during the twenty-six weeks ended June 28, 2020, which were not allocated to its operating segments.

COVID-19 Restructuring - During the thirteen and twenty-six weeks ended June 28, 2020, the Company recognized pre-tax asset impairments and closure costs in connection with the closure of 22 restaurants and from the update of certain cash flow assumptions, including lease renewal considerations (the “COVID-19 Restructuring”). Following is a summary of the COVID-19 Restructuring charges recognized in the Consolidated Statements of Operations and Comprehensive (Loss) Income for the period indicated (in thousands):

LOCATION OF CHARGE IN THE CONSOLIDATED STATEMENT OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME

THIRTEEN AND TWENTY-SIX WEEKS ENDED

DESCRIPTION

JUNE 28, 2020

Property, fixtures and equipment impairments

Provision for impaired assets and restaurant closings

16,932

Lease right-of-use asset impairments and closing costs

Provision for impaired assets and restaurant closings

3,920

Severance and other expenses

General and administrative

1,160

22,012

The remaining impairment and closing charges during the periods presented resulted primarily from locations identified for remodel, relocation or closure and certain other assets.

Accrued Facility Closure and Other Costs Rollforward - The following table summarizes the Company’s accrual activity related to certain closure and restructuring initiatives, for the period indicated:


	TWENTY-SIX WEEKS ENDED
(dollars in thousands)	JUNE 28, 2020
Balance, beginning of the period	$	14,542
Additions	2,103
Cash payments	(1,994)
Accretion	566
Adjustments	723
Balance, end of the period (1)	$	15,940

________________

(1)As of June 28, 2020, the Company had exit-related accruals related to certain closure and restructuring initiatives of $4.8 million recorded in Accrued and other current liabilities and $11.1 million recorded in Non-current operating lease liabilities on its Consolidated Balance Sheet.

Refranchising - During the thirteen weeks ended March 31, 2019, the Company completed the sale of 18 of its existing U.S. Company-owned Carrabba’s Italian Grill locations to an existing franchisee for cash proceeds of $3.6 million, net of certain purchase price adjustments. The Company remains contingently liable on certain real estate lease agreements assigned to the buyer. See Note 20 - Commitments and Contingencies for additional details regarding lease guarantees.

(Loss) Earnings Per Share

6 Months Ended

Jun. 28, 2020

Earnings Per Share [Abstract]

(Loss) Earnings Per Share

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


	THIRTEEN WEEKS ENDED						TWENTY-SIX WEEKS ENDED
(in thousands, except per share data)	JUNE 28, 2020		JUNE 30, 2019		JUNE 28, 2020		JUNE 30, 2019
Net (loss) income attributable to Bloomin’ Brands	$	(92,256)	$	29,021	$	(126,867)	$	93,321
Redemption of preferred stock in excess of carrying value (1)	—		—		(3,496)		—
Net (loss) income attributable to common stockholders	$	(92,256)	$	29,021	$	(130,363)	$	93,321

Basic weighted average common shares outstanding	87,496		90,194		87,312		90,805

Effect of diluted securities:
Stock options	—		561		—		676
Nonvested restricted stock units	—		198		—		278
Nonvested performance-based share units	—		—		—		48
Diluted weighted average common shares outstanding	87,496		90,953		87,312		91,807

Basic (loss) earnings per share attributable to common stockholders	$	(1.05)	$	0.32	$	(1.49)	$	1.03
Diluted (loss) earnings per share attributable to common stockholders	$	(1.05)	$	0.32	$	(1.49)	$	1.02

________________

(1)Consideration paid in excess of carrying value for the redemption of preferred stock is considered a deemed dividend and, for purposes of calculating earnings per share, reduces net income attributable to common stockholders for the twenty-six weeks ended June 28, 2020. See Note 14 - Stockholders’ Equity for additional details.

Weighted-average securities outstanding not included in the computation of (loss) earnings per share attributable to common stock holders because their effect was antidilutive were as follows, for the periods indicated:


	THIRTEEN WEEKS ENDED			TWENTY-SIX WEEKS ENDED
(shares in thousands)	JUNE 28, 2020	JUNE 30, 2019	JUNE 28, 2020	JUNE 30, 2019
Stock options	5,352	4,214	5,009	3,799
Nonvested restricted stock units	990	200	821	211
Nonvested performance-based share units	624	330	578	295
Convertible senior notes and warrants	23,388	—	11,694	—

There are approximately 19.348 million shares of the Company’s common stock that underlie its senior convertible notes based on the initial conversion rate and full principal amount. The conversion spread on the Company’s convertible senior notes will have a dilutive impact on diluted earnings per share when the average market price of the Company’s common stock for a given period exceeds the conversion price of $11.89 per share of common stock. The Company expects to settle the principal amount of its outstanding convertible senior notes in cash and any excess in shares. As a result, upon conversion of the convertible senior notes, only the amounts in excess of the principal amount are considered in diluted earnings per share under the treasury stock method, if applicable. For the thirteen and twenty-six weeks ended June 28, 2020, the convertible senior notes have been excluded from the computation of diluted earnings per share as the effect would be antidilutive given the Company’s net loss, and also since the conversion price of the convertible senior notes exceeded the average market price of the Company’s common stock. Warrants to purchase approximately 19.348 million shares of the Company’s common shares at $16.64 per share were outstanding as of June 28, 2020 but were excluded from the computation of diluted earnings per share since the warrants’ strike price was greater than the average market price of the Company’s common stock during the period. See Note 12 - Convertible Senior Notes for additional information regarding the Company’s convertible senior notes.

Stock-based Compensation Plans

6 Months Ended

Jun. 28, 2020

Share-based Payment Arrangement [Abstract]

Stock-based Compensation Plans

The Company recognized stock-based compensation expense as follows for the periods indicated:


	THIRTEEN WEEKS ENDED						TWENTY-SIX WEEKS ENDED
(dollars in thousands)	JUNE 28, 2020		JUNE 30, 2019		JUNE 28, 2020		JUNE 30, 2019
Stock options	$	1,038	$	1,413	$	1,870	$	2,572
Restricted stock units	2,340		2,410		4,023		4,159
Performance-based share units	1,693		1,254		2,392		2,257

	$	5,071	$	5,077	$	8,285	$	8,988

During the twenty-six weeks ended June 28, 2020, the Company made grants of 0.1 million stock options, 0.4 million time-based restricted stock units and 0.5 million performance-based share units.

Assumptions used in the Black-Scholes option pricing model and the weighted-average fair value of option awards granted were as follows for the periods indicated:


	TWENTY-SIX WEEKS ENDED
	JUNE 28, 2020			JUNE 30, 2019
Assumptions:
Weighted-average risk-free interest rate (1)	0.90		%	2.39		%
Dividend yield (2)	4.34		%	1.92		%
Expected term (3)	5.5 years			4.7 years
Weighted-average volatility (4)	30.43		%	30.96		%

Weighted-average grant date fair value per option	$	3.12		$	5.11

________________

(1)Risk-free interest rate is the U.S. Treasury yield curve in effect as of the grant date for periods within the expected term of the option.

(2)Dividend yield is the level of dividends expected to be paid on the Company’s common stock over the expected term of the option.

(3)Expected term represents the period of time that the options are expected to be outstanding. The Company estimates the expected term based on historical exercise experience for its stock options.

(4)Based on the historical volatility of the Company’s stock.

The following represents unrecognized stock compensation expense and the remaining weighted-average vesting period as of June 28, 2020:


	UNRECOGNIZED COMPENSATION EXPENSE (dollars in thousands)		REMAINING WEIGHTED-AVERAGE VESTING PERIOD (in years)
Stock options	$	5,085	1.6
Restricted stock units	$	15,568	2.1
Performance-based share units	$	12,316	2.1

Other Current Assets, Net

6 Months Ended

Jun. 28, 2020

Other Current Assets, Net [Abstract]

Other Current Assets, Net

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


(dollars in thousands)	JUNE 28, 2020		DECEMBER 29, 2019
Prepaid expenses	$	21,729	$	20,218
Accounts receivable - gift cards, net	13,100		104,591
Accounts receivable - vendors, net	6,550		13,465
Accounts receivable - franchisees, net	545		1,322
Accounts receivable - other, net	13,699		21,734
Deferred gift card sales commissions	13,624		18,554
Assets held for sale	3,786		3,317
Other current assets, net (1)	8,456		3,261
	$	81,489	$	186,462

________________

(1)Includes $3.7 million of Company-owned life insurance policies as of June 28, 2020 transferred to Other current assets, net during the twenty-six weeks ended June 28, 2020 for planned payment of deferred compensation obligations.

Property, Fixtures and Equipment, Net

6 Months Ended

Jun. 28, 2020

Property, Plant and Equipment [Abstract]

Property, Fixtures and Equipment, Net

Property, fixtures and equipment, net, consisted of the following as of the periods indicated:


(dollars in thousands)	JUNE 28, 2020		DECEMBER 29, 2019
Land	$	41,298	$	42,570
Buildings	1,153,329		1,202,434
Furniture and fixtures	447,195		458,169
Equipment	617,961		665,815
Construction in progress	21,543		24,477
Less: accumulated depreciation	(1,351,294)		(1,357,388)
	$	930,032	$	1,036,077

Goodwill and Intangible Assets, Net

3 Months Ended

Mar. 29, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets, Net

Goodwill - The following table is a rollforward of goodwill:


(dollars in thousands)	U.S.		INTERNATIONAL		CONSOLIDATED
Balance as of December 29, 2019	$	170,657	$	117,782	$	288,439

Translation adjustments	—		(15,071)		(15,071)
Impairment charges	—		(1,973)		(1,973)


Balance as of June 28, 2020	$	170,657	$	100,738	$	271,395

The COVID-19 outbreak was considered a triggering event in the thirteen weeks ended March 29, 2020, indicating that the carrying amount of goodwill may not be recoverable. As a result, the Company performed a quantitative assessment for all reporting units to determine whether a reporting unit was impaired. Based on this assessment, which utilized a discounted cash flow analysis, the Company recorded full impairment of goodwill related to its Hong Kong reporting unit of $2.0 million, within the international segment, during the thirteen weeks ended March 29, 2020. Impairment was not recorded for any of the Company’s other reporting units as a result the quantitative assessment.

Annual Goodwill and Intangible Asset Impairment Assessment - The Company performs its annual assessment for impairment of goodwill and other indefinite-lived intangible assets as of the first day of its second fiscal quarter. Since the Company performed a quantitative assessment on the last day of the first fiscal quarter in 2020, as described above, the Company utilized the same assumptions and analysis in performing a quantitative annual assessment in its second fiscal quarter and concluded that no additional impairment was required. In 2019, the Company performed a qualitative assessment and did not record any impairment charges.

Other Assets, Net

6 Months Ended

Jun. 28, 2020

Other Assets [Abstract]

Other Assets, Net

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


(dollars in thousands)	JUNE 28, 2020		DECEMBER 29, 2019
Company-owned life insurance (1)	$	49,908	$	60,126
Deferred financing fees (2)	5,909		4,893
Liquor licenses	24,250		24,289
Other assets	19,039		27,802
	$	99,106	$	117,110

________________

(1)During the twenty-six weeks ended June 28, 2020, the Company reclassified $9.1 million of Company-owned life insurance policies to current assets in anticipation of settlement of such policies to pay deferred compensation obligations.

(2)Net of accumulated amortization of $7.7 million and $6.8 million as of June 28, 2020 and December 29, 2019, respectively.

Long-term Debt, Net

6 Months Ended

Jun. 28, 2020

Debt Disclosure [Abstract]

Long-term Debt, Net

Following is a summary of outstanding long-term debt, as of the periods indicated:


	JUNE 28, 2020						DECEMBER 29, 2019
(dollars in thousands)	OUTSTANDING BALANCE		INTEREST RATE		OUTSTANDING BALANCE		INTEREST RATE
Senior Secured Credit Facility:
Term loan A (1)	$	437,500	2.90	%	$	450,000	3.40	%
Revolving credit facility (1)	615,000		2.89	%	599,000		3.44	%
Total Senior Secured Credit Facility	$	1,052,500			$	1,049,000
Convertible Senior Notes (2)	230,000		5.00	%	—
Finance lease liabilities	1,957				2,308
Other	—				50		2.18	%
Less: unamortized debt discount and issuance costs	(73,665)				(2,654)
Total debt, net	$	1,210,792			$	1,048,704
Less: current portion of long-term debt	(32,354)				(26,411)
Long-term debt, net	$	1,178,438			$	1,022,293

________________

(1)Interest rate represents the weighted-average interest rate for the respective periods.

(2)See Note 12 - Convertible Senior Notes for details regarding the convertible senior notes and related hedge and warrant transactions.

Amended Credit Agreement - On May 4, 2020, the Company and its wholly-owned subsidiary OSI Restaurant Partners, LLC (“OSI”), as co-borrowers, entered into an amendment to the existing credit agreement, dated November 30, 2017 (the “Amended Credit Agreement”), which provides relief for the financial covenant to maintain a specified quarterly Total Net Leverage Ratio (“TNLR”). Without such amendment, violation of financial covenants under the original credit agreement could have resulted in default. TNLR is the ratio of Consolidated Total Debt (Current portion of long-term debt and Long-term debt, net of cash, excluding the convertible senior notes) to Consolidated EBITDA (earnings before interest, taxes, depreciation and amortization and certain other adjustments as defined in the Amended Credit Agreement).

The Amended Credit Agreement waives the TNLR requirement for the remainder of fiscal year 2020 and requires a TNLR based on a seasonally annualized calculation of Consolidated EBITDA not to exceed the following thresholds for the periods indicated:


QUARTERLY PERIOD ENDED	MAXIMUM RATIO
March 28, 2021 (1)	5.50	to	1.00
June 27, 2021 (2)	5.00	to	1.00
September 26, 2021 and thereafter (3)	4.50	to	1.00

________________

(1)Seasonally annualized Consolidated EBITDA calculated as Consolidated EBITDA for the fiscal quarter ending March 28, 2021 divided by 34.1%.

(2)Seasonally annualized Consolidated EBITDA calculated as Consolidated EBITDA for the two consecutive quarters ending June 27, 2021 divided by 58.5%.

(3)Seasonally annualized Consolidated EBITDA calculated as Consolidated EBITDA for the three consecutive quarters ending September 26, 2021 divided by 77.0%.

The Company is also required to meet a minimum monthly liquidity threshold of $125.0 million through March 28, 2021, calculated as the sum of available capacity under the Company’s revolving credit facility, unrestricted domestic cash on hand and up to $25.0 million of unrestricted cash held by foreign subsidiaries.

Under the Amended Credit Agreement, the Company is limited to $100.0 million of aggregate capital expenditures for the four fiscal quarters through March 28, 2021. The Company is also prohibited from making certain restricted payments, investments or acquisitions until after September 26, 2021, with an exception for investments in the Company’s foreign subsidiaries which are capped at $27.5 million. Repurchasing shares of the Company’s outstanding common stock and paying dividends are also restricted until after September 26, 2021 and the Company is compliant with its financial covenants under the terms of the Amended Credit Agreement.

Interest rates under the Amended Credit Agreement are 275 and 175 basis points above the Eurocurrency Rate and Base Rate, respectively, and letter of credit fees and fees for the daily unused availability under the revolving credit facility are 2.75% and 0.40%, respectively, subject to reversion to rates under the original credit agreement when the Company is in compliance with the TNLR covenant for the test period ending September 26, 2021. The Company is also subject to a 0% Eurocurrency floor under the Amended Credit Agreement.

Deferred Financing Fees - The Company deferred $2.9 million of financing costs incurred in connection with the Amended Credit Agreement. Deferred financing fees of $2.0 million associated with the revolving credit facility portion of the Amended Credit Agreement were recorded in Other assets, net and all other deferred financing fees were recorded in Long-term debt, net.

As of June 28, 2020 and December 29, 2019, the Company was in compliance with its debt covenants.

Convertible Senior Notes

6 Months Ended

Jun. 28, 2020

Convertible Notes [Abstract]

Convertible Senior Notes

Convertible Senior Notes Convertible Senior Notes - On May 8, 2020, the Company completed a $200.0 million principal amount private offering of 5.00% convertible senior notes due 2025 and on May 12, 2020, issued an additional $30.0 million principal amount in connection with the option granted to the initial purchasers as part of the offering (collectively, the “2025 Notes”). The 2025 Notes are governed by the terms of an indenture between the Company and Wells Fargo Bank, National Association, as the Trustee. The 2025 Notes will mature on May 1, 2025, unless earlier converted, redeemed or purchased by the Company. The 2025 Notes bear cash interest at an annual rate of 5.00%, payable semi-annually in arrears on May 1 and November 1 of each year, beginning on November 1, 2020.

The 2025 Notes are unsecured obligations and do not contain any financial covenants or restrictions on incurring additional indebtedness, paying dividends or issuing or repurchasing any securities. Events of default under the indenture for the 2025 Notes include, among other things, a default in the payment when due of the principal of, or the redemption price for, any note and a default for 30 days in the payment when due of interest on any note. If an event of default, the principal amount of, and all accrued and unpaid interest on, all of the notes then outstanding will immediately become due and payable.

The initial conversion rate applicable to the 2025 Notes is 84.122 shares of common stock per $1,000 principal amount of 2025 Notes, or a total of approximately 19.348 million shares for the total $230.0 million principal amount. This initial conversion rate is equivalent to an initial conversion price of approximately $11.89 per share. The conversion rate will be subject to adjustment upon the occurrence of certain specified events. Noteholders may convert their notes at their option only in the circumstances described in the indenture.

The Company will settle conversions by paying or delivering, as applicable, cash, shares of its common stock or a combination of cash and shares of its common stock, at the Company’s election, based on the applicable conversion rate.

Net proceeds from the 2025 Notes offering were approximately $221.6 million, after deducting the initial purchaser’s discounts and commissions and the Company’s offering expenses. Upon issuance, the principal amount was separated into a liability and an equity component, such that interest expense reflects the Company’s nonconvertible debt interest rate.

The initial carrying value of the 2025 Notes, excluding the discounts upon original issuance and third party offering costs allocated to the liability, and recorded during the thirteen weeks ended June 28, 2020, is as follows (in thousands):


Liability component
Principal	$	230,000
Less: Debt discount (1)	(66,137)
Less: Debt issuance costs (1)	(5,996)
Net carrying amount	$	157,867
Equity component (2)	$	64,367

________________

(1)Debt discount and issuance costs are amortized to interest expense using the effective interest method over the expected life of the 2025 Notes.

(2)Recorded in Additional paid-in capital on the Consolidated Balance Sheet. Includes $2.4 million of equity issuance costs and net deferred tax assets of $0.6 million.

Convertible Note Hedge and Warrant Transactions - In connection with the offering of the 2025 Notes, the Company entered into convertible note hedge transactions (the “Convertible Note Hedge Transactions”) with certain of the initial purchasers of the 2025 Notes and/or their respective affiliates and other financial institutions (in this capacity, the “Hedge Counterparties”). Concurrently with the Company’s entry into the Convertible Note Hedge Transactions, the Company also entered into separate, warrant transactions with the Hedge Counterparties collectively relating to the same number of shares of the Company’s common stock, subject to customary anti-dilution adjustments, and for which the Company received proceeds that partially offset the cost of entering into the Convertible Note Hedge Transactions (the “Warrant Transactions”).

The Convertible Note Hedge Transactions cover, subject to customary anti-dilution adjustments, the number of shares of the Company’s common stock that initially underlie the 2025 Notes, and are expected generally to reduce the potential equity dilution, and/or offset any cash payments in excess of the principal amount due, as the case may be, upon conversion of the 2025 Notes. The Warrant Transactions could have a dilutive effect on the Company’s

common stock to the extent that the price of its common stock exceeds the strike price of the Warrant Transactions. The strike price will initially be $16.64 per share and is subject to certain adjustments under the terms of the Warrant Transactions.

The portion of the net proceeds to the Company from the offering of the 2025 Notes that was used to pay the premium on the Convertible Note Hedge Transactions, net of the proceeds to the Company from the Warrant Transactions, was approximately $19.6 million. The net costs incurred in connection with the Convertible Note Hedge Transactions and Warrant Transactions were recorded as a reduction to Additional paid-in capital on the Company’s Consolidated Balance Sheet during the thirteen weeks ended June 28, 2020.

As these transactions meet certain accounting criteria, the Convertible Note Hedge Transactions and Warrant Transactions were recorded in stockholders’ equity, not accounted for as derivatives and are not remeasured each reporting period.

Other Long-term Liabilities, Net

6 Months Ended

Jun. 28, 2020

Other Liabilities Disclosure [Abstract]

Other Long-term Liabilities, Net

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


(dollars in thousands)	JUNE 28, 2020		DECEMBER 29, 2019
Accrued insurance liability	$	32,740	$	33,818
Chef and Restaurant Managing Partner deferred compensation obligations	38,187		47,831

Other long-term liabilities (1)	91,971		56,411
	$	162,898	$	138,060

________________

(1)The increase in Other long-term liabilities during the twenty-six weeks ended June 28, 2020, primarily relates to $16.9 million related to deferred payroll tax liabilities (as allowed for in the Coronavirus, Aid, Relief and Economic Security Act), $8.6 million of additional contingent lease liabilities subsequent to the adoption of ASU No. 2016-13 and $7.3 million of additional interest rate swap liabilities. See Note 19 - Income Taxes, Note 20 - Commitments and Contingencies and Note 15 - Derivative Instruments and Hedging Activities, respectively, for details regarding these increases.

Stockholders' Equity

6 Months Ended

Jun. 28, 2020

Stockholders' Equity Attributable to Parent [Abstract]

Stockholders' Equity

Stockholders’ Equity

Dividends - The Company declared and paid dividends per share during fiscal year 2020 as follows:


(in thousands, except per share data)	DIVIDENDS PER SHARE		AMOUNT
First fiscal quarter	$	0.20	$	17,480

Redeemable Preferred Stock - In connection with the development of its Abbraccio Cucina Italiana (“Abbraccio”) concept in 2015, the Company entered into an investment agreement (the “Abbraccio Investment Agreement”) to sell preferred shares of its Abbraccio subsidiary (“Abbraccio Shares”) to certain investors. The Abbraccio Investment Agreement included a call option for the purchase of the Abbraccio Shares (the “Abbraccio Call Option”).

During the thirteen weeks ended March 29, 2020, the Company exercised the Abbraccio Call Option to purchase all outstanding Abbraccio Shares for $1.0 million and recorded a reduction to Accumulated deficit and an increase in Net loss applicable to common stockholders of $3.5 million for the consideration paid in excess of the Abbraccio Shares’ carrying value.

Accumulated Other Comprehensive Loss (“AOCL”) - Following are the components of AOCL as of the periods indicated:


(dollars in thousands)	JUNE 28, 2020		DECEMBER 29, 2019
Foreign currency translation adjustment	$	(188,474)	$	(152,031)
Unrealized loss on derivatives, net of tax	(28,656)		(17,745)
Accumulated other comprehensive loss	$	(217,130)	$	(169,776)

Following are the components of Other comprehensive loss attributable to Bloomin’ Brands for the periods indicated:


	THIRTEEN WEEKS ENDED						TWENTY-SIX WEEKS ENDED
(dollars in thousands)	JUNE 28, 2020		JUNE 30, 2019		JUNE 28, 2020		JUNE 30, 2019
Foreign currency translation adjustment	$	(29,146)	$	(8,584)	$	(36,443)	$	(2,737)

Unrealized loss on derivatives, net of tax (1)	$	(1,556)	$	(7,239)	$	(14,892)	$	(11,620)
Reclassification of adjustments for loss (gain) on derivatives included in Net (loss) income, net of tax (2)	2,585		130		3,981		(234)
Total unrealized gain (loss) on derivatives, net of tax	$	1,029	$	(7,109)	$	(10,911)	$	(11,854)

Other comprehensive loss attributable to Bloomin’ Brands	$	(28,117)	$	(15,693)	$	(47,354)	$	(14,591)

________________

(1)Unrealized loss on derivatives is net of tax of $0.5 million and $2.5 million for the thirteen weeks ended June 28, 2020 and June 30, 2019 and $5.2 million and $4.0 million for the twenty-six weeks ended June 28, 2020 and June 30, 2019, respectively.

(2)Reclassifications of adjustments for loss (gain) on derivatives are net of tax. See Note 15 - Derivative Instruments and Hedging Activities for the tax impact of reclassifications.

Derivative Instruments and Hedging Activities

6 Months Ended

Jun. 28, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments and Hedging Activities

Cash Flow Hedges of Interest Rate Risk - On October 24, 2018 and October 25, 2018, the Company entered into variable-to-fixed interest rate swap agreements with 12 counterparties to hedge a portion of the cash flows of the Company’s variable rate debt. The swap agreements have an aggregate notional amount of $550.0 million and mature on November 30, 2022. Under the terms of the swap agreements, the Company pays a weighted-average fixed rate of 3.04% on the notional amount and receives payments from the counterparty based on the one-month LIBOR rate.

The Company’s swap agreements have been designated and qualify as cash flow hedges, are recognized on its Consolidated Balance Sheets at fair value and are classified based on the instruments’ maturity dates. The Company estimates $16.0 million will be reclassified to interest expense over the next 12 fiscal months. The following table presents the fair value and classification of the Company’s swap agreements, as of the periods indicated:


(dollars in thousands)	JUNE 28, 2020		DECEMBER 29, 2019		CONSOLIDATED BALANCE SHEET CLASSIFICATION




Interest rate swaps - liability	$	14,555	$	7,174	Accrued and other current liabilities
Interest rate swaps - liability	24,152		16,835		Other long-term liabilities, net
Total fair value of derivative instruments - liabilities (1)	$	38,707	$	24,009

Accrued interest	$	1,356	$	632	Accrued and other current liabilities

____________________

(1)See Note 17 - Fair Value Measurements for fair value discussion of the interest rate swaps.

On May 4, 2020, concurrent with entering into the Amended Credit Agreement, the Company de-designated its interest rate swap hedge relationship and modified its hedge documentation to more closely align with certain terms

of the Amended Credit Agreement. On May 6, 2020, the Company re-designated the cash flow hedge relationship for the original $550.0 million notional amount, resulting in no impact to the Company’s consolidated financial statements as a result of the hedge activity.

The following table summarizes the effects of the swap agreements on Net (loss) income for the periods indicated:


	THIRTEEN WEEKS ENDED						TWENTY-SIX WEEKS ENDED
(dollars in thousands)	JUNE 28, 2020		JUNE 30, 2019		JUNE 28, 2020		JUNE 30, 2019
Interest rate swap (expense) income recognized in Interest expense, net	$	(3,482)	$	(175)	$	(5,362)	$	316
Income tax benefit (expense) recognized in (Benefit) provision for income taxes	897		45		1,381		(82)
Total effects of the interest rate swaps on Net (loss) income	$	(2,585)	$	(130)	$	(3,981)	$	234

By utilizing the interest rate swaps, the Company is exposed to credit-related losses in the event that the counterparty fails to perform under the terms of the derivative contract. To mitigate this risk, the Company enters into derivative contracts with major financial institutions based upon credit ratings and other factors. The Company continually assesses the creditworthiness of its counterparties. As of June 28, 2020, all counterparties to the interest rate swaps had performed in accordance with their contractual obligations.

The Company has agreements with each of its derivative counterparties that contain a provision where the Company could be declared in default on its derivative obligations if the repayment of the underlying indebtedness is accelerated by the lender due to the Company’s default on indebtedness.

As of June 28, 2020 and December 29, 2019, the fair value of the Company’s interest rate swaps was in a net liability position, including accrued interest but excluding any adjustment for nonperformance risk, of $40.5 million and $24.8 million, respectively. As of June 28, 2020 and December 29, 2019, the Company has not posted any collateral related to these agreements. If the Company had breached any of these provisions as of June 28, 2020 and December 29, 2019, it could have been required to settle its obligations under the agreements at their termination value of $40.5 million and $24.8 million, respectively.

Leases

6 Months Ended

Jun. 28, 2020

Leases [Abstract]

Leases

LeasesIn April 2020, the FASB issued a question and answer document focused on the application of lease accounting guidance to lease concessions provided as a result of COVID-19 (the “Lease Modification Q&A”). The Lease Modification Q&A provides entities with the option to elect to account for lease concessions as though the enforceable rights and obligations existed in the original lease when the total cash flows resulting from the modified lease are substantially similar to the cash flows in the original lease. The Company elected this practical expedient for COVID-19-related rent concessions, primarily rent deferrals or rent abatements, and has elected not to remeasure the related lease liability and right-of-use asset for those leases. Rent deferrals are accrued with no impact to straight-line rent expense. Rent abatements are recognized as a reduction of variable rent expense in the month they occur. This election will continue while these concessions are in effect.

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 28, 2020		DECEMBER 29, 2019
Operating lease right-of-use assets	Operating lease right-of-use assets	$	1,212,916	$	1,266,548
Finance lease right-of-use assets (1)	Property, fixtures and equipment, net	1,729		2,036
Total lease assets, net		$	1,214,645	$	1,268,584

Current operating lease liabilities (2)	Accrued and other current liabilities	$	177,236	$	171,866
Current finance lease liabilities	Current portion of long-term debt	1,104		1,361
Non-current operating lease liabilities	Non-current operating lease liabilities	1,248,941		1,279,051
Non-current finance lease liabilities	Long-term debt, net	853		947
Total lease liabilities		$	1,428,134	$	1,453,225

________________

(1)Net of accumulated amortization of $1.8 million and $1.3 million as of June 28, 2020 and December 29, 2019, respectively.

(2)Excludes COVID-19-related deferred rent accruals of $18.3 million as of June 28, 2020 and accrued contingent percentage rent of $2.7 million and $2.4 million, as of June 28, 2020 and December 29, 2019, respectively.

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


	CONSOLIDATED INCOME STATEMENT CLASSIFICATION	THIRTEEN WEEKS ENDED									TWENTY-SIX WEEKS ENDED
(dollars in thousands)				JUNE 28, 2020			JUNE 30, 2019			JUNE 28, 2020			JUNE 30, 2019
Operating leases (1)	Other restaurant operating	$	42,776		$	45,079		$	88,658		$	90,312
Variable lease cost	Other restaurant operating	(1,046)			746			74			1,565
Finance leases
Amortization of leased assets	Depreciation and amortization	315			360			657			684
Interest on lease liabilities	Interest expense, net	37			72			83			145
Sublease revenue (2)	Franchise and other revenues	(109)			(1,792)			(1,786)			(3,106)
Lease costs, net		$	41,973		$	44,465		$	87,686		$	89,600

________________

(1)Excludes rent expense for office facilities and Company-owned closed or subleased properties of $3.3 million and $3.7 million for the thirteen weeks ended June 28, 2020 and June 30, 2019, respectively, and $6.9 million and $7.2 million for the twenty-six weeks ended June 28, 2020 and June 30, 2019, respectively, which is included in General and administrative expense. Also excludes certain supply chain related rent expense of $0.3 million for the thirteen weeks ended June 28, 2020 and June 30, 2019 and $0.6 million for the twenty-six weeks ended June 28, 2020 and June 30, 2019, which is included in Cost of sales.

(2)Excludes rental income from Company-owned properties of $0.1 million and $0.7 million for the thirteen weeks ended June 28, 2020 and June 30, 2019, respectively, and $0.3 million and $1.4 million for the twenty-six weeks ended June 28, 2020 and June 30, 2019, respectively.

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


	TWENTY-SIX WEEKS ENDED
(dollars in thousands)	JUNE 28, 2020		JUNE 30, 2019

Cash flows from operating activities:
Cash paid for amounts included in the measurement of operating lease liabilities	$	75,688	$	95,532

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 28, 2020		DECEMBER 29, 2019
Operating lease right-of-use assets	Operating lease right-of-use assets	$	1,212,916	$	1,266,548
Finance lease right-of-use assets (1)	Property, fixtures and equipment, net	1,729		2,036
Total lease assets, net		$	1,214,645	$	1,268,584

Current operating lease liabilities (2)	Accrued and other current liabilities	$	177,236	$	171,866
Current finance lease liabilities	Current portion of long-term debt	1,104		1,361
Non-current operating lease liabilities	Non-current operating lease liabilities	1,248,941		1,279,051
Non-current finance lease liabilities	Long-term debt, net	853		947
Total lease liabilities		$	1,428,134	$	1,453,225

________________

(1)Net of accumulated amortization of $1.8 million and $1.3 million as of June 28, 2020 and December 29, 2019, respectively.

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


	CONSOLIDATED INCOME STATEMENT CLASSIFICATION	THIRTEEN WEEKS ENDED									TWENTY-SIX WEEKS ENDED
(dollars in thousands)				JUNE 28, 2020			JUNE 30, 2019			JUNE 28, 2020			JUNE 30, 2019
Operating leases (1)	Other restaurant operating	$	42,776		$	45,079		$	88,658		$	90,312
Variable lease cost	Other restaurant operating	(1,046)			746			74			1,565
Finance leases
Amortization of leased assets	Depreciation and amortization	315			360			657			684
Interest on lease liabilities	Interest expense, net	37			72			83			145
Sublease revenue (2)	Franchise and other revenues	(109)			(1,792)			(1,786)			(3,106)
Lease costs, net		$	41,973		$	44,465		$	87,686		$	89,600

________________

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


	TWENTY-SIX WEEKS ENDED
(dollars in thousands)	JUNE 28, 2020		JUNE 30, 2019

Cash flows from operating activities:
Cash paid for amounts included in the measurement of operating lease liabilities	$	75,688	$	95,532

Fair Value Measurements

6 Months Ended

Jun. 28, 2020

Fair Value Disclosures [Abstract]

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 and liabilities measured at fair value by hierarchy level on a recurring basis as of the periods indicated:


	JUNE 28, 2020										DECEMBER 29, 2019
(dollars in thousands)	TOTAL		LEVEL 1		LEVEL 2		TOTAL		LEVEL 1		LEVEL 2
Assets:
Cash equivalents:
Fixed income funds	$	6,567	$	6,567	$	—	$	1,037	$	1,037	$	—
Money market funds	9,595		9,595		—		12,752		12,752		—
Restricted cash equivalents:

Money market funds	1,099		1,099		—		—		—		—




Total asset recurring fair value measurements	$	17,261	$	17,261	$	—	$	13,789	$	13,789	$	—

Liabilities:
Accrued and other current liabilities:
Derivative instruments - interest rate swaps	$	14,555	$	—	$	14,555	$	7,174	$	—	$	7,174

Other long-term liabilities:
Derivative instruments - interest rate swaps	24,152		—		24,152		16,835		—		16,835
Total liability recurring fair value measurements	$	38,707	$	—	$	38,707	$	24,009	$	—	$	24,009

Fair value of each class of financial instrument is determined based on the following:


FINANCIAL INSTRUMENT						METHODS AND ASSUMPTIONS
Fixed income funds and Money market funds						Carrying value approximates fair value because maturities are less than three months.
Derivative instruments						The Company’s derivative instruments include interest rate swaps. Fair value measurements are based on the contractual terms of the derivatives and use observable market-based inputs. The interest rate swaps are valued using a discounted cash flow analysis on the expected cash flows of each derivative using observable inputs including interest rate curves and credit spreads. The Company also considers its own nonperformance risk and the respective counterparty’s nonperformance risk in the fair value measurements. As of June 28, 2020 and December 29, 2019, the Company has determined that the credit valuation adjustments are not significant to the overall valuation of its derivatives.

Fair Value Measurements on a Nonrecurring Basis - Assets and liabilities that are measured at fair value on a nonrecurring basis relate primarily to property, fixtures and equipment, operating lease right-of-use assets, goodwill and other intangible assets, which are remeasured when carrying value exceeds fair value. Carrying value after impairment approximates fair value. The following table summarizes the Company’s assets measured at fair value by hierarchy level on a nonrecurring basis, for the periods indicated:


	THIRTEEN WEEKS ENDED
	JUNE 28, 2020						JUNE 30, 2019
(dollars in thousands)	CARRYING VALUE		TOTAL IMPAIRMENT		CARRYING VALUE		TOTAL IMPAIRMENT

Operating lease right-of-use assets (1)	$	32,404	$	4,028	$	114	$	1,770
Property, fixtures and equipment (2)	9,992		19,595		466		162
Goodwill and other assets (3)	748		295		—		—
	$	43,144	$	23,918	$	580	$	1,932

	TWENTY-SIX WEEKS ENDED
	JUNE 28, 2020						JUNE 30, 2019
(dollars in thousands)	CARRYING VALUE		TOTAL IMPAIRMENT		CARRYING VALUE		TOTAL IMPAIRMENT
Assets held for sale (4)	$	1,182	$	75	$	2,149	$	215
Operating lease right-of-use assets (1)	85,537		23,591		2,356		2,366
Property, fixtures and equipment (2)	28,390		37,993		956		2,833
Goodwill and other assets (3)	748		2,683		—		—
	$	115,857	$	64,342	$	5,461	$	5,414

____________________

(1)Carrying values measured using Level 2 inputs to estimate fair value totaled $0.2 million during the twenty-six weeks ended June 30, 2019. All other assets were valued using Level 3 inputs. Third-party market appraisals (Level 2) and discounted cash flow models (Level 3) were used to estimate fair value.

(2)Carrying values measured using Level 2 inputs to estimate fair value totaled $0.5 million and $2.2 million during the thirteen and twenty-six weeks ended June 28, 2020, respectively. All other assets were valued using Level 3 inputs. Third-party market appraisals (Level 2) and discounted cash flow models (Level 3) were used to estimate fair value.

(3)All assets measured using the quoted market value of comparable assets (Level 2).

(4)Assets generally measured using third-party market appraisals or executed sales contracts (Level 2).

See Note 4 - Impairments, Exit Costs and Disposals for information regarding impairment charges resulting from the fair value measurement performed on a nonrecurring basis during the thirteen and twenty-six weeks ended June 28, 2020. Projected future cash flows, including discount rate and growth rate assumptions, are derived from current economic conditions, expectations of management and projected trends of current operating results. As a result, the Company has determined that the majority of the inputs used to value its long-lived assets held and used are unobservable inputs that fall within Level 3 of the fair value hierarchy.

In assessment of impairment for operating locations, the Company determined the fair values of individual operating locations using an income approach, which required discounting projected future cash flows. When determining the stream of projected future cash flows associated with an individual operating location, management made assumptions, including highest and best use and inputs from restaurant operations, where necessary, and about key variables including the following unobservable inputs: revenue growth rates, controllable and uncontrollable expenses, and asset residual values. In order to calculate the present value of those future cash flows, the Company discounted cash flow estimates at its weighted-average cost of capital applicable to the country in which the measured assets reside.

The following table presents quantitative information related to certain unobservable inputs used in the Company’s Level 3 fair value measurements of Operating lease right-of-use assets and Property, fixtures and equipment for the impairment losses incurred during the periods indicated:


	THIRTEEN WEEKS ENDED					TWENTY-SIX WEEKS ENDED
UNOBSERVABLE INPUTS	JUNE 28, 2020					JUNE 28, 2020
Weighted-average cost of capital	10.9%					10.4%	to	10.9%
Long-term growth rate	1.5%	to	2.0%	1.5%	to	2.0%

Interim Disclosures about Fair Value of Financial Instruments - The Company’s non-derivative financial instruments consist of cash equivalents, accounts receivable, accounts payable and current 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 28, 2020						DECEMBER 29, 2019
	CARRYING VALUE		FAIR VALUE LEVEL 2		CARRYING VALUE		FAIR VALUE LEVEL 2
(dollars in thousands)
Senior Secured Credit Facility:
Term loan A	$	437,500	$	424,375	$	450,000	$	450,563
Revolving credit facility	$	615,000	$	577,319	$	599,000	$	599,000
Convertible Senior Notes	$	230,000	$	246,100	$	—	$	—

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Allowance for Expected Credit Losses

6 Months Ended

Jun. 28, 2020

Credit Loss [Abstract]

Allowance for Expected Credit Losses

The following is a rollforward of the allowance for trade receivable expected credit losses for the periods indicated:


	THIRTEEN WEEKS ENDED		TWENTY-SIX WEEKS ENDED
(dollars in thousands)	JUNE 28, 2020		JUNE 28, 2020
Allowance for credit losses, beginning of period	$	4,551	$	199
Adjustment for adoption of ASU No. 2016-13	—		1,018
Provision for expected credit losses	15		3,349



Allowance for credit losses, end of period	$	4,566	$	4,566

The Company is exposed to credit losses through its trade accounts receivable consisting primarily of amounts due for gift card, credit card, vendor, franchise and other receivables. Gift card, vendor and other receivables consist primarily of amounts due from gift card resellers and vendor rebates. Amounts due from franchisees consist of initial franchise fees, royalty income, and advertising fees. See Note 7 - Other Current Assets, Net for disclosure of trades receivables by category as of June 28, 2020 and December 29, 2019. Domestic credit card receivables are recorded within Cash and cash equivalents based on their short duration and reasonably assured settlement.

The Company evaluates the collectability of trade receivables based on historical loss experience and risk pool and records periodic adjustments for factors such as deterioration of economic conditions, specific customer circumstances and changes in the aging of accounts receivable balances. For risk pools where there was no established loss history, S&P speculative-grade default rates are utilized to calculate an estimated loss rate. Losses are charged off in the period in which they are determined to be uncollectable.

The financial condition of the Company’s franchisees is largely dependent on the underlying business trends of its brands and market conditions within the casual dining restaurant industry. In March 2020, the Company fully reserved substantially all of its outstanding franchise receivables in response to the economic impact of the COVID-19 pandemic. See Note 2 - COVID-19 Charges for details regarding the impact of the COVID-19 pandemic on the Company’s financial results.The Company is also exposed to credit losses from off-balance sheet lease guarantees primarily related to the divestiture of certain formerly Company-owned restaurant sites. See Note 20 - Commitments and Contingencies for details regarding these lease guarantees.

Income Taxes

6 Months Ended

Jun. 28, 2020

Income Tax Disclosure [Abstract]

Income Taxes


	THIRTEEN WEEKS ENDED									TWENTY-SIX WEEKS ENDED
(dollars in thousands)	JUNE 28, 2020			JUNE 30, 2019			JUNE 28, 2020			JUNE 30, 2019
(Loss) income before (benefit) provision for income taxes	$	(128,207)		$	31,024		$	(182,276)		$	102,169
(Benefit) provision for income taxes	$	(35,779)		$	1,215		$	(55,434)		$	6,711
Effective income tax rate	27.9		%	3.9		%	30.4		%	6.6		%

On March 27, 2020, the President of the United States signed into law the Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”). Accordingly, the applicable provisions of the CARES Act have been reflected in the Company’s tax provision for the thirteen and twenty-six weeks ended June 28, 2020. The CARES Act, among other items, includes U.S. corporate tax provisions related to the deferment of employer social security payments, employee retention credits, net operating loss (“NOL”) carryback periods, alternative minimum tax credits, modifications to interest deduction limitations and technical corrections on tax depreciation methods for qualified improvement property (“QIP”).

The effective income tax rate for the thirteen and twenty-six weeks ended June 28, 2020 increased by 24.0 and 23.8 percentage points as compared to the thirteen and twenty-six weeks ended June 30, 2019. These increases were primarily due to the benefit of the tax credits for FICA taxes on certain employees’ tips and the forecasted 2020 pre-tax book loss.

As of December 29, 2019, the Company had $128.6 million in general business tax credits carryforwards, which have a 20-year carryforward period and are utilized on a first-in, first-out basis. The Company expects to increase its general business credit carryforwards in 2020 by approximately $30 million to $40 million as a result of additional credits generated in 2020 and the application of the QIP technical correction enacted as part of the CARES Act. The Company currently expects to utilize these tax credit carryforwards within a 10 year period. However, the Company’s ability to utilize these tax credits could be adversely impacted by, among other items, a future “ownership change” as defined under Section 382 of the Internal Revenue Code.

The Company has a blended federal and state statutory rate of approximately 26%. The effective income tax rate for the thirteen and twenty-six weeks ended June 28, 2020 was higher than the statutory rate primarily due to the benefit of tax credits for FICA taxes on certain employees’ tips.

Deferred Taxes - During the twenty-six weeks ended June 28, 2020, Deferred income tax assets, net increased by $56.1 million primarily as a result of losses incurred during the period and tax credits for FICA taxes on certain employees’ tips.

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jun. 28, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Litigation and Other Matters - The Company had $4.2 million and $3.0 million of liabilities recorded for various legal matters as of June 28, 2020 and December 29, 2019, respectively. 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 and are generally covered by insurance if they exceed specified retention or deductible amounts. In the opinion of management, the amount of ultimate liability with respect to those actions will not have a material adverse impact on the Company’s financial position or results of operations and cash flows. 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 28, 2020, the undiscounted payments that the Company could be required to make in the event of non-payment by the primary lessees was approximately $32.6 million. The present value of these potential payments discounted at the Company’s incremental borrowing rate as of June 28, 2020 was approximately $20.5 million. In the event of default, the indemnity clauses in the Company’s purchase and sale agreements govern its ability to pursue and recover damages incurred. In March 2020, the Company recorded $4.2 million of additional contingent lease liability in response to the economic impact of the COVID-19 pandemic. As of June 28, 2020, the Company’s recorded contingent lease liability was $9.6 million. See Note 2 - COVID-19 Charges for details regarding the impact of the COVID-19 pandemic on the Company’s financial results.

Segment Reporting

6 Months Ended

Jun. 28, 2020

Segment Reporting [Abstract]

Segment Reporting

The Company considers its restaurant concepts and international markets as operating segments, which reflects how the Company manages its business, reviews operating performance and allocates resources. Resources are allocated and performance is assessed by the Company’s Chief Executive Officer (“CEO”), whom the Company has determined to be its Chief Operating Decision Maker (“CODM”). The Company aggregates its operating segments into two reportable segments, U.S. and international. The U.S. segment includes all restaurants operating in the U.S. while restaurants operating outside the U.S. are included in the international 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.

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 29, 2019. 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 and certain bonus expenses.

During the thirteen and twenty-six weeks ended June 28, 2020, the Company recorded $2.4 million and $24.6 million, respectively, of pre-tax charges as a part of transformational initiatives implemented in connection with its previously announced review of strategic alternatives. These costs were primarily recorded within General and administrative expense and Provision for impaired assets and restaurant closings and were not allocated to the Company’s segments since the Company’s CODM does not consider the impact of transformational initiatives when assessing segment performance.

The following table is a summary of Total revenue by segment, for the periods indicated:


	THIRTEEN WEEKS ENDED						TWENTY-SIX WEEKS ENDED
(dollars in thousands)	JUNE 28, 2020		JUNE 30, 2019		JUNE 28, 2020		JUNE 30, 2019
Total revenues
U.S.	$	537,080	$	914,219	$	1,431,577	$	1,928,726
International	41,379		107,711		155,219		221,335
Total revenues	$	578,459	$	1,021,930	$	1,586,796	$	2,150,061

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


	THIRTEEN WEEKS ENDED						TWENTY-SIX WEEKS ENDED
(dollars in thousands)	JUNE 28, 2020		JUNE 30, 2019		JUNE 28, 2020		JUNE 30, 2019
Segment (loss) income from operations
U.S.	$	(62,921)	$	78,814	$	(51,542)	$	191,849
International	(17,070)		6,909		(10,283)		20,629
Total segment (loss) income from operations	(79,991)		85,723		(61,825)		212,478
Unallocated corporate operating expense	(31,921)		(42,263)		(91,655)		(86,524)
Total (loss) income from operations	(111,912)		43,460		(153,480)		125,954
Loss on modification of debt	(237)		—		(237)		—

Other income (expense), net	581		12		(212)		(156)
Interest expense, net	(16,639)		(12,448)		(28,347)		(23,629)
(Loss) income before (benefit) provision for income taxes	$	(128,207)	$	31,024	$	(182,276)	$	102,169

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 28, 2020		JUNE 30, 2019		JUNE 28, 2020		JUNE 30, 2019
Depreciation and amortization
U.S.	$	37,308	$	38,916	$	74,948	$	77,702
International	5,884		6,749		12,642		13,205
Corporate	2,592		4,123		6,462		8,363
Total depreciation and amortization	$	45,784	$	49,788	$	94,052	$	99,270

Description of the Business and Basis of Presentation (Policies)	6 Months Ended
	Jun. 28, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation - The accompanying interim unaudited consolidated financial statements have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). 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 29, 2019.
Recently Adopted Financial Accounting Standards	Recently Adopted Financial Accounting Standards - On December 30, 2019, the Company adopted Accounting Standards Update (“ASU”) No. 2016-13, “Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments,” (“ASU No. 2016-13”), which requires measurement and recognition of losses for financial instruments under the current expected credit loss model versus incurred losses under previous guidance. The Company’s adoption of ASU No. 2016-13 and its related amendments (“the new credit loss standard”) resulted in a cumulative-effect debit adjustment to the beginning balance of Accumulated deficit of $4.3 million, including $4.8 million of contingent lease liabilities related to lease guarantees and $1.0 million of incremental reserve for credit losses, net of the $1.5 million net increase in related deferred tax assets. Measurement processes and related controls have been implemented by the Company to ensure compliance with the new credit loss standard. See Note 18 - Allowance for Expected Credit Losses for additional details regarding the Company’s allowance for expected credit losses. On December 30, 2019, the Company adopted ASU No. 2018-15, “Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract,” (“ASU No. 2018-15”), which clarifies the accounting for implementation costs in cloud computing arrangements. Under ASU No. 2018-15, implementation costs incurred by customers in cloud computing arrangements are deferred and recognized over the term of the arrangement similar to internal-use software guidance. The Company contracts with 3^rd party information technology providers for various service arrangements including software, platform and information technology infrastructure. The capitalized implementation costs are recorded within Other assets, net on the Company’s Consolidated Balance Sheets and are amortized on a straight-line basis over the term of the hosting arrangements, including reasonably certain renewal periods, within the same financial statement line as the related hosting fees. The amortization of the Company’s current arrangements is recorded in General and administrative expense in the Company’s Consolidated Statements of Operations and Comprehensive (Loss) Income. The Company’s prospective adoption of ASU No. 2018-15 did not have a material effect on its consolidated financial statements. In March 2020, the Financial Accounting Standards Board (the “FASB”) issued ASU No. 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting,” (“ASU No. 2020-04”). The new guidance provides optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships and other transactions affected by reference rate reform if certain criteria are met. ASU No. 2020-04 was effective beginning March 12, 2020 and may be applied prospectively to contract modifications made and hedging relationships entered into or evaluated on or before December 31, 2022. The Company has elected to apply the hedge accounting expedients related to hedge effectiveness for future LIBOR-indexed cash flows, which enables the Company to continue to apply hedge accounting to hedging relationships impacted by reference rate reform. Application of these expedients allows for presentation of derivatives consistent with the Company’s historical presentation. The Company continues to evaluate the impact of the guidance and may apply other elections, as applicable. 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. These reclassifications had no effect on previously reported net income.

COVID-19 Charges (Tables)

6 Months Ended

Jun. 28, 2020

COVID-19 Impact [Abstract]

Impact from COVID-19

Following is a summary of the charges recorded in connection with the COVID-19 pandemic for the periods indicated below (dollars in thousands):


CHARGES	CONSOLIDATED INCOME STATEMENT CLASSIFICATION	THIRTEEN WEEKS ENDED		TWENTY-SIX WEEKS ENDED
				JUNE 28, 2020		JUNE 28, 2020
Inventory obsolescence and spoilage (1)	Cost of sales	$	1,163	$	7,345

Compensation for idle employees (2)	Labor and other related	11,388		27,574
Other operating charges	Other restaurant operating	2,467		2,467
Lease guarantee contingent liabilities (3)	General and administrative	—		4,188
Allowance for expected credit losses (4)	General and administrative	—		3,334
Other charges	General and administrative	1,216		1,789
Right-of-use asset impairment (5)	Provision for impaired assets and restaurant closings	5,273		25,757
Fixed asset impairment (5)	Provision for impaired assets and restaurant closings	19,611		31,339
Goodwill and other impairment (6)	Provision for impaired assets and restaurant closings	611		2,999

		$	41,729	$	106,792

________________

(1)Includes the write-off of value added tax credits in the twenty-six weeks ended June 28, 2020 related to the purchase of inventory by the Company’s Brazil subsidiary.

(3)Represents additional contingent liabilities recorded for lease guarantees related to certain former restaurant locations now operated by franchisees or other third parties.

(4)Includes additional reserves based on the Company’s increase in expected credit losses, primarily related to franchise receivables.

Revenue Recognition (Tables)

6 Months Ended

Jun. 28, 2020

Schedule of principal transactions, revenue

The following table includes the categories of revenue included in the Company’s Consolidated Statements of Operations and Comprehensive (Loss) Income for the periods indicated:


	THIRTEEN WEEKS ENDED						TWENTY-SIX WEEKS ENDED
(dollars in thousands)	JUNE 28, 2020		JUNE 30, 2019		JUNE 28, 2020		JUNE 30, 2019
Revenues
Restaurant sales	$	576,261	$	1,005,687	$	1,572,498	$	2,117,329
Franchise and other revenues
Franchise revenue	$	1,951	$	12,792	$	11,500	$	26,554
Other revenue	247		3,451		2,798		6,178
Total Franchise and other revenues	$	2,198	$	16,243	$	14,298	$	32,732
Total revenues	$	578,459	$	1,021,930	$	1,586,796	$	2,150,061

Disaggregation of revenue

The following tables include the disaggregation of Restaurant sales and Franchise revenue, by restaurant concept and major international market, for the periods indicated:


	THIRTEEN WEEKS ENDED
	JUNE 28, 2020						JUNE 30, 2019
(dollars in thousands)	RESTAURANT SALES		FRANCHISE REVENUE		RESTAURANT SALES		FRANCHISE REVENUE
U.S.
Outback Steakhouse	$	346,553	$	136	$	527,049	$	9,586
Carrabba’s Italian Grill	93,738		7		150,000		626
Bonefish Grill	63,744		4		148,065		200
Fleming’s Prime Steakhouse & Wine Bar	31,156		—		74,397		—
Other	1,576		—		1,105		—
U.S. total	$	536,767	$	147	$	900,616	$	10,412
International
Outback Steakhouse Brazil	$	24,003	$	—	$	83,985	$	—
Other (1)	15,491		1,804		21,086		2,380
International total	$	39,494	$	1,804	$	105,071	$	2,380
Total	$	576,261	$	1,951	$	1,005,687	$	12,792

________________

(1)Includes Restaurant sales for the Company’s Abbraccio concept in Brazil.


















	TWENTY-SIX WEEKS ENDED
	JUNE 28, 2020						JUNE 30, 2019
(dollars in thousands)	RESTAURANT SALES		FRANCHISE REVENUE		RESTAURANT SALES		FRANCHISE REVENUE
U.S.
Outback Steakhouse	$	877,238	$	6,677	$	1,113,820	$	20,187
Carrabba’s Italian Grill	240,613		468		323,475		797
Bonefish Grill	198,816		140		304,499		410
Fleming’s Prime Steakhouse & Wine Bar	102,116		—		157,423		—
Other	2,873		—		2,212		—
U.S. total	$	1,421,656	$	7,285	$	1,901,429	$	21,394
International
Outback Steakhouse Brazil	$	115,593	$	—	$	173,550	$	—
Other (1)	35,249		4,215		42,350		5,160
International total	$	150,842	$	4,215	$	215,900	$	5,160
Total	$	1,572,498	$	11,500	$	2,117,329	$	26,554

________________

(1)Includes Restaurant sales for the Company’s Abbraccio concept in Brazil.

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 28, 2020		DECEMBER 29, 2019
Other current assets, net
Deferred gift card sales commissions	$	13,624	$	18,554

Unearned revenue
Deferred gift card revenue	$	279,973	$	358,757
Deferred loyalty revenue (1)	13,177		10,034
Deferred franchise fees - current	477		491

Total Unearned revenue	$	293,627	$	369,282

Other long-term liabilities, net
Deferred franchise fees - non-current	$	4,278	$	4,599

________________

Other current assets, net [Member]

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 28, 2020		JUNE 30, 2019		JUNE 28, 2020		JUNE 30, 2019
Balance, beginning of period	$	13,049	$	11,195	$	18,554	$	16,431
Deferred gift card sales commissions amortization	(2,502)		(5,682)		(11,592)		(14,089)
Deferred gift card sales commissions capitalization	3,142		5,399		7,466		9,232
Other	(65)		(424)		(804)		(1,086)
Balance, end of period	$	13,624	$	10,488	$	13,624	$	10,488

Unearned revenue [Member]

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 28, 2020		JUNE 30, 2019		JUNE 28, 2020		JUNE 30, 2019
Balance, beginning of period	$	277,518	$	240,923	$	358,757	$	333,794
Gift card sales	41,649		75,658		100,088		131,130
Gift card redemptions	(37,404)		(84,942)		(170,585)		(226,401)
Gift card breakage	(1,790)		(4,267)		(8,287)		(11,151)
Balance, end of period	$	279,973	$	227,372	$	279,973	$	227,372

Impairments, Exit Costs and Disposals (Tables)

6 Months Ended

Jun. 28, 2020

Impairments, Exit Costs and Disposals [Abstract]

Provision for impaired assets and restaurant closings

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


	THIRTEEN WEEKS ENDED						TWENTY-SIX WEEKS ENDED
(dollars in thousands)	JUNE 28, 2020		JUNE 30, 2019		JUNE 28, 2020		JUNE 30, 2019
Impairment losses
U.S.	$	23,741	$	165	$	54,713	$	3,629
International (1)	296		1,767		3,468		1,785
Corporate	(119)		—		6,161		—
Total impairment losses	$	23,918	$	1,932	$	64,342	$	5,414
Restaurant closure expenses
U.S.	$	1,041	$	8	$	1,762	$	95
International	—		—		173		17
Total restaurant closure expenses	$	1,041	$	8	$	1,935	$	112
Provision for impaired assets and restaurant closings	$	24,959	$	1,940	$	66,277	$	5,526

________________

(1)Includes goodwill impairment charges of $2.0 million during the twenty-six weeks ended June 28, 2020. See Note 9 - Goodwill and Intangible Assets, Net for details regarding impairment of goodwill.

Restructuring and related costs

Following is a summary of the COVID-19 Restructuring charges recognized in the Consolidated Statements of Operations and Comprehensive (Loss) Income for the period indicated (in thousands):

LOCATION OF CHARGE IN THE CONSOLIDATED STATEMENT OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME

THIRTEEN AND TWENTY-SIX WEEKS ENDED

DESCRIPTION

JUNE 28, 2020

Property, fixtures and equipment impairments

Provision for impaired assets and restaurant closings

16,932

Lease right-of-use asset impairments and closing costs

Provision for impaired assets and restaurant closings

3,920

Severance and other expenses

General and administrative

1,160

22,012

Accrued facility closure and other costs rollforward

The following table summarizes the Company’s accrual activity related to certain closure and restructuring initiatives, for the period indicated:


	TWENTY-SIX WEEKS ENDED
(dollars in thousands)	JUNE 28, 2020
Balance, beginning of the period	$	14,542
Additions	2,103
Cash payments	(1,994)
Accretion	566
Adjustments	723
Balance, end of the period (1)	$	15,940

________________

(Loss) Earnings Per Share (Tables)

6 Months Ended

Jun. 28, 2020

Earnings Per Share [Abstract]

Schedule of (loss) earnings per share, basic and diluted

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


	THIRTEEN WEEKS ENDED						TWENTY-SIX WEEKS ENDED
(in thousands, except per share data)	JUNE 28, 2020		JUNE 30, 2019		JUNE 28, 2020		JUNE 30, 2019
Net (loss) income attributable to Bloomin’ Brands	$	(92,256)	$	29,021	$	(126,867)	$	93,321
Redemption of preferred stock in excess of carrying value (1)	—		—		(3,496)		—
Net (loss) income attributable to common stockholders	$	(92,256)	$	29,021	$	(130,363)	$	93,321

Basic weighted average common shares outstanding	87,496		90,194		87,312		90,805

Effect of diluted securities:
Stock options	—		561		—		676
Nonvested restricted stock units	—		198		—		278
Nonvested performance-based share units	—		—		—		48
Diluted weighted average common shares outstanding	87,496		90,953		87,312		91,807

Basic (loss) earnings per share attributable to common stockholders	$	(1.05)	$	0.32	$	(1.49)	$	1.03
Diluted (loss) earnings per share attributable to common stockholders	$	(1.05)	$	0.32	$	(1.49)	$	1.02

________________

Schedule of antidilutive securities excluded from computation of (loss) earnings per share


	THIRTEEN WEEKS ENDED			TWENTY-SIX WEEKS ENDED
(shares in thousands)	JUNE 28, 2020	JUNE 30, 2019	JUNE 28, 2020	JUNE 30, 2019
Stock options	5,352	4,214	5,009	3,799
Nonvested restricted stock units	990	200	821	211
Nonvested performance-based share units	624	330	578	295
Convertible senior notes and warrants	23,388	—	11,694	—

Stock-based Compensation Plans (Tables)

6 Months Ended

Jun. 28, 2020

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 as follows for the periods indicated:


	THIRTEEN WEEKS ENDED						TWENTY-SIX WEEKS ENDED
(dollars in thousands)	JUNE 28, 2020		JUNE 30, 2019		JUNE 28, 2020		JUNE 30, 2019
Stock options	$	1,038	$	1,413	$	1,870	$	2,572
Restricted stock units	2,340		2,410		4,023		4,159
Performance-based share units	1,693		1,254		2,392		2,257

	$	5,071	$	5,077	$	8,285	$	8,988

Schedule of stock-based payment award, stock options, valuation assumptions

Assumptions used in the Black-Scholes option pricing model and the weighted-average fair value of option awards granted were as follows for the periods indicated:


	TWENTY-SIX WEEKS ENDED
	JUNE 28, 2020			JUNE 30, 2019
Assumptions:
Weighted-average risk-free interest rate (1)	0.90		%	2.39		%
Dividend yield (2)	4.34		%	1.92		%
Expected term (3)	5.5 years			4.7 years
Weighted-average volatility (4)	30.43		%	30.96		%

Weighted-average grant date fair value per option	$	3.12		$	5.11

________________

(1)Risk-free interest rate is the U.S. Treasury yield curve in effect as of the grant date for periods within the expected term of the option.

(2)Dividend yield is the level of dividends expected to be paid on the Company’s common stock over the expected term of the option.

(3)Expected term represents the period of time that the options are expected to be outstanding. The Company estimates the expected term based on historical exercise experience for its stock options.

(4)Based on the historical volatility of the Company’s stock.

Schedule of unrecognized compensation cost, nonvested awards

The following represents unrecognized stock compensation expense and the remaining weighted-average vesting period as of June 28, 2020:


	UNRECOGNIZED COMPENSATION EXPENSE (dollars in thousands)		REMAINING WEIGHTED-AVERAGE VESTING PERIOD (in years)
Stock options	$	5,085	1.6
Restricted stock units	$	15,568	2.1
Performance-based share units	$	12,316	2.1

Other Current Assets, Net (Tables)

6 Months Ended

Jun. 28, 2020

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 28, 2020		DECEMBER 29, 2019
Prepaid expenses	$	21,729	$	20,218
Accounts receivable - gift cards, net	13,100		104,591
Accounts receivable - vendors, net	6,550		13,465
Accounts receivable - franchisees, net	545		1,322
Accounts receivable - other, net	13,699		21,734
Deferred gift card sales commissions	13,624		18,554
Assets held for sale	3,786		3,317
Other current assets, net (1)	8,456		3,261
	$	81,489	$	186,462

________________

Property, Plant, and Equipment (Tables)

6 Months Ended

Jun. 28, 2020

Property, Plant and Equipment [Abstract]

Schedule of property, fixtures and equipment

Property, fixtures and equipment, net, consisted of the following as of the periods indicated:


(dollars in thousands)	JUNE 28, 2020		DECEMBER 29, 2019
Land	$	41,298	$	42,570
Buildings	1,153,329		1,202,434
Furniture and fixtures	447,195		458,169
Equipment	617,961		665,815
Construction in progress	21,543		24,477
Less: accumulated depreciation	(1,351,294)		(1,357,388)
	$	930,032	$	1,036,077

Goodwill and Intangible Assets, Net (Tables)

6 Months Ended

Jun. 28, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill rollforward

The following table is a rollforward of goodwill:


(dollars in thousands)	U.S.		INTERNATIONAL		CONSOLIDATED
Balance as of December 29, 2019	$	170,657	$	117,782	$	288,439

Translation adjustments	—		(15,071)		(15,071)
Impairment charges	—		(1,973)		(1,973)


Balance as of June 28, 2020	$	170,657	$	100,738	$	271,395

Other Assets, Net (Tables)

6 Months Ended

Jun. 28, 2020

Other Assets [Abstract]

Schedule of other assets

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


(dollars in thousands)	JUNE 28, 2020		DECEMBER 29, 2019
Company-owned life insurance (1)	$	49,908	$	60,126
Deferred financing fees (2)	5,909		4,893
Liquor licenses	24,250		24,289
Other assets	19,039		27,802
	$	99,106	$	117,110

________________

(2)Net of accumulated amortization of $7.7 million and $6.8 million as of June 28, 2020 and December 29, 2019, respectively.

Long-term Debt, Net (Tables)

6 Months Ended

Jun. 28, 2020

Debt Disclosure [Abstract]

Schedule of long-term debt, net

Following is a summary of outstanding long-term debt, as of the periods indicated:


	JUNE 28, 2020						DECEMBER 29, 2019
(dollars in thousands)	OUTSTANDING BALANCE		INTEREST RATE		OUTSTANDING BALANCE		INTEREST RATE
Senior Secured Credit Facility:
Term loan A (1)	$	437,500	2.90	%	$	450,000	3.40	%
Revolving credit facility (1)	615,000		2.89	%	599,000		3.44	%
Total Senior Secured Credit Facility	$	1,052,500			$	1,049,000
Convertible Senior Notes (2)	230,000		5.00	%	—
Finance lease liabilities	1,957				2,308
Other	—				50		2.18	%
Less: unamortized debt discount and issuance costs	(73,665)				(2,654)
Total debt, net	$	1,210,792			$	1,048,704
Less: current portion of long-term debt	(32,354)				(26,411)
Long-term debt, net	$	1,178,438			$	1,022,293

________________

(1)Interest rate represents the weighted-average interest rate for the respective periods.

(2)See Note 12 - Convertible Senior Notes for details regarding the convertible senior notes and related hedge and warrant transactions.

Schedule of maximum total net leverage ratio


QUARTERLY PERIOD ENDED	MAXIMUM RATIO
March 28, 2021 (1)	5.50	to	1.00
June 27, 2021 (2)	5.00	to	1.00
September 26, 2021 and thereafter (3)	4.50	to	1.00

________________

(1)Seasonally annualized Consolidated EBITDA calculated as Consolidated EBITDA for the fiscal quarter ending March 28, 2021 divided by 34.1%.

(2)Seasonally annualized Consolidated EBITDA calculated as Consolidated EBITDA for the two consecutive quarters ending June 27, 2021 divided by 58.5%.

(3)Seasonally annualized Consolidated EBITDA calculated as Consolidated EBITDA for the three consecutive quarters ending September 26, 2021 divided by 77.0%.

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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+ Details

Convertible Senior Notes (Tables)

6 Months Ended

Jun. 28, 2020

Convertible Notes [Abstract]

Convertible debt costs


Liability component
Principal	$	230,000
Less: Debt discount (1)	(66,137)
Less: Debt issuance costs (1)	(5,996)
Net carrying amount	$	157,867
Equity component (2)	$	64,367

________________

(1)Debt discount and issuance costs are amortized to interest expense using the effective interest method over the expected life of the 2025 Notes.

(2)Recorded in Additional paid-in capital on the Consolidated Balance Sheet. Includes $2.4 million of equity issuance costs and net deferred tax assets of $0.6 million.

Other Long-term Liabilities, Net (Tables)

6 Months Ended

Jun. 28, 2020

Other Liabilities Disclosure [Abstract]

Other long-term liabilities

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


(dollars in thousands)	JUNE 28, 2020		DECEMBER 29, 2019
Accrued insurance liability	$	32,740	$	33,818
Chef and Restaurant Managing Partner deferred compensation obligations	38,187		47,831

Other long-term liabilities (1)	91,971		56,411
	$	162,898	$	138,060

________________

Stockholders' Equity (Tables)

6 Months Ended

Jun. 28, 2020

Stockholders' Equity Attributable to Parent [Abstract]

Dividends declared and paid

The Company declared and paid dividends per share during fiscal year 2020 as follows:


(in thousands, except per share data)	DIVIDENDS PER SHARE		AMOUNT
First fiscal quarter	$	0.20	$	17,480

Schedule of accumulated other comprehensive loss

Following are the components of AOCL as of the periods indicated:


(dollars in thousands)	JUNE 28, 2020		DECEMBER 29, 2019
Foreign currency translation adjustment	$	(188,474)	$	(152,031)
Unrealized loss on derivatives, net of tax	(28,656)		(17,745)
Accumulated other comprehensive loss	$	(217,130)	$	(169,776)

Comprehensive (loss) income

Following are the components of Other comprehensive loss attributable to Bloomin’ Brands for the periods indicated:


	THIRTEEN WEEKS ENDED						TWENTY-SIX WEEKS ENDED
(dollars in thousands)	JUNE 28, 2020		JUNE 30, 2019		JUNE 28, 2020		JUNE 30, 2019
Foreign currency translation adjustment	$	(29,146)	$	(8,584)	$	(36,443)	$	(2,737)

Unrealized loss on derivatives, net of tax (1)	$	(1,556)	$	(7,239)	$	(14,892)	$	(11,620)
Reclassification of adjustments for loss (gain) on derivatives included in Net (loss) income, net of tax (2)	2,585		130		3,981		(234)
Total unrealized gain (loss) on derivatives, net of tax	$	1,029	$	(7,109)	$	(10,911)	$	(11,854)

Other comprehensive loss attributable to Bloomin’ Brands	$	(28,117)	$	(15,693)	$	(47,354)	$	(14,591)

________________

(2)Reclassifications of adjustments for loss (gain) on derivatives are net of tax. See Note 15 - Derivative Instruments and Hedging Activities for the tax impact of reclassifications.

Derivative Instruments and Hedging Activities (Tables)

6 Months Ended

Jun. 28, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of derivative instruments in statement of financial position, fair value

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


(dollars in thousands)	JUNE 28, 2020		DECEMBER 29, 2019		CONSOLIDATED BALANCE SHEET CLASSIFICATION




Interest rate swaps - liability	$	14,555	$	7,174	Accrued and other current liabilities
Interest rate swaps - liability	24,152		16,835		Other long-term liabilities, net
Total fair value of derivative instruments - liabilities (1)	$	38,707	$	24,009

Accrued interest	$	1,356	$	632	Accrued and other current liabilities

____________________

(1)See Note 17 - Fair Value Measurements for fair value discussion of the interest rate swaps.

Schedule of derivatives instruments statements of financial performance, location

The following table summarizes the effects of the swap agreements on Net (loss) income for the periods indicated:


	THIRTEEN WEEKS ENDED						TWENTY-SIX WEEKS ENDED
(dollars in thousands)	JUNE 28, 2020		JUNE 30, 2019		JUNE 28, 2020		JUNE 30, 2019
Interest rate swap (expense) income recognized in Interest expense, net	$	(3,482)	$	(175)	$	(5,362)	$	316
Income tax benefit (expense) recognized in (Benefit) provision for income taxes	897		45		1,381		(82)
Total effects of the interest rate swaps on Net (loss) income	$	(2,585)	$	(130)	$	(3,981)	$	234

Leases (Tables)

6 Months Ended

Jun. 28, 2020

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 28, 2020		DECEMBER 29, 2019
Operating lease right-of-use assets	Operating lease right-of-use assets	$	1,212,916	$	1,266,548
Finance lease right-of-use assets (1)	Property, fixtures and equipment, net	1,729		2,036
Total lease assets, net		$	1,214,645	$	1,268,584

Current operating lease liabilities (2)	Accrued and other current liabilities	$	177,236	$	171,866
Current finance lease liabilities	Current portion of long-term debt	1,104		1,361
Non-current operating lease liabilities	Non-current operating lease liabilities	1,248,941		1,279,051
Non-current finance lease liabilities	Long-term debt, net	853		947
Total lease liabilities		$	1,428,134	$	1,453,225

________________

(1)Net of accumulated amortization of $1.8 million and $1.3 million as of June 28, 2020 and December 29, 2019, 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 (Loss) Income for the periods indicated:


	CONSOLIDATED INCOME STATEMENT CLASSIFICATION	THIRTEEN WEEKS ENDED									TWENTY-SIX WEEKS ENDED
(dollars in thousands)				JUNE 28, 2020			JUNE 30, 2019			JUNE 28, 2020			JUNE 30, 2019
Operating leases (1)	Other restaurant operating	$	42,776		$	45,079		$	88,658		$	90,312
Variable lease cost	Other restaurant operating	(1,046)			746			74			1,565
Finance leases
Amortization of leased assets	Depreciation and amortization	315			360			657			684
Interest on lease liabilities	Interest expense, net	37			72			83			145
Sublease revenue (2)	Franchise and other revenues	(109)			(1,792)			(1,786)			(3,106)
Lease costs, net		$	41,973		$	44,465		$	87,686		$	89,600

________________

Cash flow, operating activities

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


	TWENTY-SIX WEEKS ENDED
(dollars in thousands)	JUNE 28, 2020		JUNE 30, 2019

Cash flows from operating activities:
Cash paid for amounts included in the measurement of operating lease liabilities	$	75,688	$	95,532

Fair Value Measurements (Tables)

6 Months Ended

Jun. 28, 2020

Fair Value Disclosures [Abstract]

Fair value, financial instruments measured on nonrecurring basis, 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 and liabilities measured at fair value on a recurring basis

The following table summarizes the Company’s financial assets and liabilities measured at fair value by hierarchy level on a recurring basis as of the periods indicated:


	JUNE 28, 2020										DECEMBER 29, 2019
(dollars in thousands)	TOTAL		LEVEL 1		LEVEL 2		TOTAL		LEVEL 1		LEVEL 2
Assets:
Cash equivalents:
Fixed income funds	$	6,567	$	6,567	$	—	$	1,037	$	1,037	$	—
Money market funds	9,595		9,595		—		12,752		12,752		—
Restricted cash equivalents:

Money market funds	1,099		1,099		—		—		—		—




Total asset recurring fair value measurements	$	17,261	$	17,261	$	—	$	13,789	$	13,789	$	—

Liabilities:
Accrued and other current liabilities:
Derivative instruments - interest rate swaps	$	14,555	$	—	$	14,555	$	7,174	$	—	$	7,174

Other long-term liabilities:
Derivative instruments - interest rate swaps	24,152		—		24,152		16,835		—		16,835
Total liability recurring fair value measurements	$	38,707	$	—	$	38,707	$	24,009	$	—	$	24,009

Fair value, assets measured on recurring basis, methods and assumptions

Fair value of each class of financial instrument is determined based on the following:


FINANCIAL INSTRUMENT						METHODS AND ASSUMPTIONS
Fixed income funds and Money market funds						Carrying value approximates fair value because maturities are less than three months.
Derivative instruments						The Company’s derivative instruments include interest rate swaps. Fair value measurements are based on the contractual terms of the derivatives and use observable market-based inputs. The interest rate swaps are valued using a discounted cash flow analysis on the expected cash flows of each derivative using observable inputs including interest rate curves and credit spreads. The Company also considers its own nonperformance risk and the respective counterparty’s nonperformance risk in the fair value measurements. As of June 28, 2020 and December 29, 2019, the Company has determined that the credit valuation adjustments are not significant to the overall valuation of its derivatives.

Fair value, assets and liabilities measured on a nonrecurring basis

The following table summarizes the Company’s assets measured at fair value by hierarchy level on a nonrecurring basis, for the periods indicated:


	THIRTEEN WEEKS ENDED
	JUNE 28, 2020						JUNE 30, 2019
(dollars in thousands)	CARRYING VALUE		TOTAL IMPAIRMENT		CARRYING VALUE		TOTAL IMPAIRMENT

Operating lease right-of-use assets (1)	$	32,404	$	4,028	$	114	$	1,770
Property, fixtures and equipment (2)	9,992		19,595		466		162
Goodwill and other assets (3)	748		295		—		—
	$	43,144	$	23,918	$	580	$	1,932

	TWENTY-SIX WEEKS ENDED
	JUNE 28, 2020						JUNE 30, 2019
(dollars in thousands)	CARRYING VALUE		TOTAL IMPAIRMENT		CARRYING VALUE		TOTAL IMPAIRMENT
Assets held for sale (4)	$	1,182	$	75	$	2,149	$	215
Operating lease right-of-use assets (1)	85,537		23,591		2,356		2,366
Property, fixtures and equipment (2)	28,390		37,993		956		2,833
Goodwill and other assets (3)	748		2,683		—		—
	$	115,857	$	64,342	$	5,461	$	5,414

____________________

(3)All assets measured using the quoted market value of comparable assets (Level 2).

(4)Assets generally measured using third-party market appraisals or executed sales contracts (Level 2).

Fair value, assets and liabilities measured on nonrecurring basis, valuation techniques


	THIRTEEN WEEKS ENDED					TWENTY-SIX WEEKS ENDED
UNOBSERVABLE INPUTS	JUNE 28, 2020					JUNE 28, 2020
Weighted-average cost of capital	10.9%					10.4%	to	10.9%
Long-term growth rate	1.5%	to	2.0%	1.5%	to	2.0%

Schedule of carrying value and fair value of senior secured credit facilities 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 28, 2020						DECEMBER 29, 2019
	CARRYING VALUE		FAIR VALUE LEVEL 2		CARRYING VALUE		FAIR VALUE LEVEL 2
(dollars in thousands)
Senior Secured Credit Facility:
Term loan A	$	437,500	$	424,375	$	450,000	$	450,563
Revolving credit facility	$	615,000	$	577,319	$	599,000	$	599,000
Convertible Senior Notes	$	230,000	$	246,100	$	—	$	—

Allowance for Expected Credit Losses (Tables)

6 Months Ended

Jun. 28, 2020

Credit Loss [Abstract]

Allowance for credit losses rollforward

The following is a rollforward of the allowance for trade receivable expected credit losses for the periods indicated:


	THIRTEEN WEEKS ENDED		TWENTY-SIX WEEKS ENDED
(dollars in thousands)	JUNE 28, 2020		JUNE 28, 2020
Allowance for credit losses, beginning of period	$	4,551	$	199
Adjustment for adoption of ASU No. 2016-13	—		1,018
Provision for expected credit losses	15		3,349



Allowance for credit losses, end of period	$	4,566	$	4,566

Income Taxes (Tables)

6 Months Ended

Jun. 28, 2020

Income Tax Disclosure [Abstract]

Schedule of effective income tax rate reconciliation


	THIRTEEN WEEKS ENDED									TWENTY-SIX WEEKS ENDED
(dollars in thousands)	JUNE 28, 2020			JUNE 30, 2019			JUNE 28, 2020			JUNE 30, 2019
(Loss) income before (benefit) provision for income taxes	$	(128,207)		$	31,024		$	(182,276)		$	102,169
(Benefit) provision for income taxes	$	(35,779)		$	1,215		$	(55,434)		$	6,711
Effective income tax rate	27.9		%	3.9		%	30.4		%	6.6		%

Segment Reporting (Tables)

6 Months Ended

Jun. 28, 2020

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 Total revenue by segment, for the periods indicated:


	THIRTEEN WEEKS ENDED						TWENTY-SIX WEEKS ENDED
(dollars in thousands)	JUNE 28, 2020		JUNE 30, 2019		JUNE 28, 2020		JUNE 30, 2019
Total revenues
U.S.	$	537,080	$	914,219	$	1,431,577	$	1,928,726
International	41,379		107,711		155,219		221,335
Total revenues	$	578,459	$	1,021,930	$	1,586,796	$	2,150,061

Reconciliation of operating profit from segments to consolidated

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


	THIRTEEN WEEKS ENDED						TWENTY-SIX WEEKS ENDED
(dollars in thousands)	JUNE 28, 2020		JUNE 30, 2019		JUNE 28, 2020		JUNE 30, 2019
Segment (loss) income from operations
U.S.	$	(62,921)	$	78,814	$	(51,542)	$	191,849
International	(17,070)		6,909		(10,283)		20,629
Total segment (loss) income from operations	(79,991)		85,723		(61,825)		212,478
Unallocated corporate operating expense	(31,921)		(42,263)		(91,655)		(86,524)
Total (loss) income from operations	(111,912)		43,460		(153,480)		125,954
Loss on modification of debt	(237)		—		(237)		—

Other income (expense), net	581		12		(212)		(156)
Interest expense, net	(16,639)		(12,448)		(28,347)		(23,629)
(Loss) income before (benefit) provision for income taxes	$	(128,207)	$	31,024	$	(182,276)	$	102,169

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 28, 2020		JUNE 30, 2019		JUNE 28, 2020		JUNE 30, 2019
Depreciation and amortization
U.S.	$	37,308	$	38,916	$	74,948	$	77,702
International	5,884		6,749		12,642		13,205
Corporate	2,592		4,123		6,462		8,363
Total depreciation and amortization	$	45,784	$	49,788	$	94,052	$	99,270

Description of the Business and Basis of Presentation Description of Business (Details)	Jun. 28, 2020 restraurant_concept
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of restaurant concepts in portfolio	4

Description of the Business and Basis of Presentation Adoption of New Accounting Procurements 2016-13 (Details) - USD ($) $ in Thousands		3 Months Ended	6 Months Ended
	Dec. 30, 2019	Jun. 28, 2020	Jun. 28, 2020
ASU No. 2016-13 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Accounts receivable, change in method, credit loss expense	$ 1,000	$ 0	$ 1,018
Deferred tax assets, net of valuation allowance	1,500
Property lease guarantee [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Lease guarantee contingent liabilities		$ 9,600	$ 9,600
Property lease guarantee [Member] \| ASU No. 2016-13 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Lease guarantee contingent liabilities	4,800
Accumulated deficit [Member] \| ASU No. 2016-13 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
New accounting pronouncement, cumulative effect of change on equity	$ 4,300

COVID-19 Charges - Summary of charges (Details) - USD ($)
$ in Thousands

1 Months Ended

3 Months Ended

6 Months Ended

Mar. 31, 2020

Jun. 28, 2020

Jun. 30, 2019

Jun. 28, 2020

Jun. 30, 2019

Unusual or Infrequent Item, or Both [Line Items]

Inventory obsolescence and spoilage

$ 6,413

$ 0

Total costs and expenses

$ 690,371

$ 978,470

1,740,276

2,024,107

Provision for impaired assets and restaurant closings [Member]

Unusual or Infrequent Item, or Both [Line Items]

Goodwill and other impairment

23,918

$ 1,932

64,342

$ 5,414

COVID-19 pandemic [Member]

Unusual or Infrequent Item, or Both [Line Items]

Total costs and expenses

41,729

106,792

Employee retention tax credit

13,700

COVID-19 pandemic [Member] | Cost of sales [Member]

Unusual or Infrequent Item, or Both [Line Items]

Inventory obsolescence and spoilage

^[1]

1,163

7,345

COVID-19 pandemic [Member] | Labor and other related [Member]

Unusual or Infrequent Item, or Both [Line Items]

Compensation for idle employees

^[2]

11,388

27,574

COVID-19 pandemic [Member] | Other restaurant operating [Member]

Unusual or Infrequent Item, or Both [Line Items]

Other operating charges

2,467

COVID-19 pandemic [Member] | General and administrative expense [Member]

Unusual or Infrequent Item, or Both [Line Items]

Other operating charges

1,216

1,789

Allowance for expected credit losses

^[3]

3,334

COVID-19 pandemic [Member] | General and administrative expense [Member] | Property lease guarantee [Member]

Unusual or Infrequent Item, or Both [Line Items]

COVID-19 pandemic [Member] | Provision for impaired assets and restaurant closings [Member]

^[4]

$ 4,200

4,188

Unusual or Infrequent Item, or Both [Line Items]

Right-of-use asset impairment

^[5]

5,273

25,757

COVID-19 pandemic [Member] | Provision for impaired assets and restaurant closings [Member] | Property, fixtures and equipment, net [Member]

Unusual or Infrequent Item, or Both [Line Items]

Fixed asset impairment

^[5]

19,611

31,339

COVID-19 pandemic [Member] | Provision for impaired assets and restaurant closings [Member] | Goodwill and other assets [Member]

Unusual or Infrequent Item, or Both [Line Items]

Goodwill and other impairment

^[6]

$ 611

$ 2,999

[1]	Includes the write-off of value added tax credits in the twenty-six weeks ended June 28, 2020 related to the purchase of inventory by the Company’s Brazil subsidiary.
[2]	Represents relief pay for hourly employees impacted by the closure of dining rooms, net of $13.7 million of employee retention tax credits earned during the thirteen and twenty-six weeks ended June 28, 2020.
[3]	Includes additional reserves based on the Company’s increase in expected credit losses, primarily related to franchise receivables.
[4]	Represents additional contingent liabilities recorded for lease guarantees related to certain former restaurant locations now operated by franchisees or other third parties.
[5]	Includes impairments resulting from the remeasurement of assets utilizing projected future cash flows revised for current economic conditions, restructuring charges and the closure of certain restaurants. See Note 4 - Impairments, Exit Costs and Disposals for details regarding COVID-19 Restructuring costs.
[6]	Includes impairment of goodwill for the Company’s Hong Kong subsidiary during the twenty-six weeks ended June 28, 2020. See Note 9 - Goodwill and Intangible Assets, Net for details regarding impairment of goodwill.

Revenue Recognition - Principal Revenue Transactions (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019	Jun. 28, 2020	Jun. 30, 2019
Disaggregation of Revenue [Line Items]
Restaurant sales, franchise and other revenues	$ 578,459	$ 1,021,930	$ 1,586,796	$ 2,150,061
Restaurant sales [Member]
Disaggregation of Revenue [Line Items]
Restaurant sales, franchise and other revenues	576,261	1,005,687	1,572,498	2,117,329
Franchise and other revenues [Member]
Disaggregation of Revenue [Line Items]
Restaurant sales, franchise and other revenues	2,198	16,243	14,298	32,732
Franchise revenue [Member]
Disaggregation of Revenue [Line Items]
Restaurant sales, franchise and other revenues	1,951	12,792	11,500	26,554
Other revenue [Member]
Disaggregation of Revenue [Line Items]
Restaurant sales, franchise and other revenues	$ 247	$ 3,451	$ 2,798	$ 6,178

Revenue Recognition - Disaggregated Revenue (Details) - USD ($)
$ in Thousands

3 Months Ended

6 Months Ended

Jun. 28, 2020

Jun. 30, 2019

Jun. 28, 2020

Jun. 30, 2019

$ 578,459

$ 1,021,930

$ 1,586,796

$ 2,150,061

U.S. segment [Member]

International segment [Member]

537,080

914,219

1,431,577

1,928,726

Restaurant sales [Member]

41,379

107,711

155,219

221,335

Restaurant sales [Member] | U.S. segment [Member]

576,261

1,005,687

1,572,498

2,117,329

Restaurant sales [Member] | International segment [Member]

536,767

900,616

1,421,656

1,901,429

Restaurant sales [Member] | Outback Steakhouse [Member]

39,494

105,071

150,842

215,900

Restaurant sales [Member] | Carrabba's Italian Grill [Member]

346,553

527,049

877,238

1,113,820

Restaurant sales [Member] | Bonefish Grill [Member]

93,738

150,000

240,613

323,475

Restaurant sales [Member] | Fleming's Prime Steakhouse & Wine Bar [Member]

63,744

148,065

198,816

304,499

Restaurant sales [Member] | Other - U.S. [Member]

31,156

74,397

102,116

157,423

Restaurant sales [Member] | Outback Brazil [Member]

1,576

1,105

2,873

2,212

Restaurant sales [Member] | Other - International [Member]

24,003

83,985

115,593

173,550

Franchise revenue [Member]

15,491

^[1]

21,086

^[1]

35,249

^[2]

42,350

^[2]

Franchise revenue [Member] | U.S. segment [Member]

1,951

12,792

11,500

26,554

Franchise revenue [Member] | International segment [Member]

147

10,412

7,285

21,394

Franchise revenue [Member] | Outback Steakhouse [Member]

1,804

2,380

4,215

5,160

Franchise revenue [Member] | Carrabba's Italian Grill [Member]

136

9,586

6,677

20,187

Franchise revenue [Member] | Bonefish Grill [Member]

626

468

797

Franchise revenue [Member] | Fleming's Prime Steakhouse & Wine Bar [Member]

200

140

410

Franchise revenue [Member] | Other - U.S. [Member]

Franchise revenue [Member] | Outback Brazil [Member]

Franchise revenue [Member] | Other - International [Member]

$ 1,804

$ 2,380

$ 4,215

$ 5,160

[1]	Includes Restaurant sales for the Company’s Abbraccio concept in Brazil.
[2]	Includes Restaurant sales for the Company’s Abbraccio concept in Brazil.

Revenue Recognition - Contract Assets and Liabilities Summary (Details) - USD ($)
$ in Thousands

Jun. 28, 2020

Mar. 29, 2020

Dec. 29, 2019

Jun. 30, 2019

Mar. 31, 2019

Dec. 30, 2018

Deferred gift card sales commissions, current

$ 13,624

$ 13,049

$ 18,554

$ 10,488

$ 11,195

$ 16,431

Deferred gift card revenue [Member]

293,627

369,282

Other current assets, net [Member]

279,973

$ 277,518

358,757

$ 227,372

$ 240,923

$ 333,794

Deferred gift card sales commissions, current

13,624

18,554

Unearned revenue [Member]

Unearned revenue [Member] | Deferred gift card revenue [Member]

293,627

369,282

Unearned revenue [Member] | Deferred loyalty revenue [Member]

279,973

358,757

Unearned revenue [Member] | Deferred franchise fees [Member]

13,177

^[1]

10,034

Other long-term liabilities, net [Member] | Deferred franchise fees [Member]

477

491

Deferred franchise fees, noncurrent

$ 4,278

$ 4,599

[1]	During the twenty-six weeks ended June 28, 2020, the Company extended the expiration dates of certain awards under its Dine Rewards program to June 30, 2020 in response to the interruption COVID-19 had to the Company’s business.

Revenue Recognition - Contract Assets and Liabilities - Deferred Gift Card Commissions Rollforward (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019	Jun. 28, 2020	Jun. 30, 2019
Revenue Recognition [Abstract]
Balance, beginning of period	$ 13,049	$ 11,195	$ 18,554	$ 16,431
Deferred gift card sales commissions amortization	(2,502)	(5,682)	(11,592)	(14,089)
Deferred gift card sales commissions capitalization	3,142	5,399	7,466	9,232
Other	(65)	(424)	(804)	(1,086)
Balance, end of period	$ 13,624	$ 10,488	$ 13,624	$ 10,488

Revenue Recognition - Contract Assets and Liabilities - Deferred Gift Card Revenue Rollforward (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019	Jun. 28, 2020	Jun. 30, 2019
Revenue Recognition [Line Items]
Balance, beginning of the period			$ 369,282
Balance, end of the period	$ 293,627		293,627
Deferred gift card revenue [Member]
Revenue Recognition [Line Items]
Balance, beginning of the period	277,518	$ 240,923	358,757	$ 333,794
Gift card sales	41,649	75,658	100,088	131,130
Gift card redemptions	(37,404)	(84,942)	(170,585)	(226,401)
Gift card breakage	(1,790)	(4,267)	(8,287)	(11,151)
Balance, end of the period	$ 279,973	$ 227,372	$ 279,973	$ 227,372

Impairments, Exit Costs and Disposals (Provision for impaired assets and restaurant closings) (Details) - USD ($)

3 Months Ended

6 Months Ended

Jun. 28, 2020

Mar. 29, 2020

Jun. 30, 2019

Jun. 28, 2020

Jun. 30, 2019

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Provision for impaired assets and restaurant closings

$ 24,959,000

$ 1,940,000

$ 66,277,000

$ 5,526,000

Provision for impaired assets and restaurant closings [Member]

(1,973,000)

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Restaurant closure expenses

23,918,000

1,932,000

64,342,000

5,414,000

1,041,000

8,000

1,935,000

112,000

U.S. segment [Member]

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

U.S. segment [Member] | Provision for impaired assets and restaurant closings [Member]

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Restaurant closure expenses

23,741,000

165,000

54,713,000

3,629,000

1,041,000

8,000

1,762,000

95,000

U.S. segment [Member] | Provision for impaired assets and restaurant closings [Member] | COVID-19 pandemic [Member]

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

International segment [Member]

25,000,000.0

56,300,000

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

International segment [Member] | Outback Hong Kong [Member]

(1,973,000)

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

International segment [Member] | Provision for impaired assets and restaurant closings [Member]

$ (2,000,000.0)

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Restaurant closure expenses

296,000

1,767,000

3,468,000

^[1]

1,785,000

173,000

17,000

International segment [Member] | Provision for impaired assets and restaurant closings [Member] | COVID-19 pandemic [Member]

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Corporate, non-segment [Member] | Provision for impaired assets and restaurant closings [Member]

300,000

3,600,000

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Corporate, non-segment [Member] | Provision for impaired assets and restaurant closings [Member] | Transformational initiatives [Member]

$ (119,000)

$ 0

6,161,000

$ 0

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Restructuring Reserve [Roll Forward]

$ 6,300,000

[1]	Includes goodwill impairment charges of $2.0 million during the twenty-six weeks ended June 28, 2020. See Note 9 - Goodwill and Intangible Assets, Net for details regarding impairment of goodwill.

Impairments, Exit Costs and Disposals (Restructuring and Related Cost) (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2020 USD ($) Restaurants	Jun. 30, 2019 USD ($)	Jun. 28, 2020 USD ($) Restaurants	Jun. 30, 2019 USD ($)
Facility closing [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Restructuring charges			$ 2,103
Provision for impaired assets and restaurant closings [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment losses	$ 23,918	$ 1,932	$ 64,342	$ 5,414
COVID-19 Restructuring
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of restaurants \| Restaurants	22		22
Restructuring charges	$ 22,012		$ 22,012
COVID-19 Restructuring \| Provision for impaired assets and restaurant closings [Member] \| Facility closing [Member] \| Property, fixtures and equipment, net [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment losses	16,932		16,932
COVID-19 Restructuring \| Provision for impaired assets and restaurant closings [Member] \| Facility closing [Member] \| Operating lease right-of-use assets [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment losses	3,920		3,920
COVID-19 Restructuring \| General and administrative expense [Member] \| Employee severance [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Severance and other expenses	$ 1,160		$ 1,160

Impairments, Exit Costs and Disposals (Lease liability rollforward) (Details) - Facility closing [Member] - USD ($)
$ in Thousands

6 Months Ended

Jun. 28, 2020

Balance, beginning of the period

$ 14,542

2,103

(1,994)

566

723

Balance, end of the period

^[1]

15,940

Accrued and other current liabilities [Member]

Restructuring Reserve [Roll Forward]

Restructuring reserve, current

4,800

Non-current operating lease liabilities [Member]

Restructuring Reserve [Roll Forward]

Restructuring reserve, noncurrent

$ 11,100

[1]	As of June 28, 2020, the Company had exit-related accruals related to certain closure and restructuring initiatives of $4.8 million recorded in Accrued and other current liabilities and $11.1 million recorded in Non-current operating lease liabilities on its Consolidated Balance Sheet.

Impairments, Exit Costs and Disposals Impairments, Exit Costs and Disposals (Refranchising) (Details) - Carrabba's Italian Grill [Member] - Disposal group, disposed of by sale, not discontinued operations [Member] $ in Millions	Mar. 31, 2019 USD ($) Restaurants
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of restaurants \| Restaurants	18
Proceeds from sale of a business, net of cash divested \| $	$ 3.6

(Loss) Earnings Per Share (Basic and Diluted EPS) (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands

3 Months Ended

6 Months Ended

Jun. 28, 2020

Jun. 30, 2019

Jun. 28, 2020

Jun. 30, 2019

Schedule of earnings per share, basic and diluted [Line Items]

Net (loss) income attributable to Bloomin’ Brands

$ (92,256)

$ 29,021

$ (126,867)

$ 93,321

Redemption of preferred stock in excess of carrying value

(3,496)

^[1]

Net (loss) income attributable to common stockholders

$ (92,256)

$ 29,021

$ (130,363)

$ 93,321

Basic weighted average common shares outstanding

87,496

90,194

87,312

90,805

Diluted weighted average common shares outstanding

87,496

90,953

87,312

91,807

Basic (loss) earnings per share attributable to common stockholders

$ (1.05)

$ 0.32

$ (1.49)

$ 1.03

Diluted (loss) earnings per share attributable to common stockholders

$ (1.05)

$ 0.32

$ (1.49)

$ 1.02

Stock options [Member]

Nonvested restricted stock units [Member]

Dilutive shares

561

676

Nonvested performance-based share units [Member]

Dilutive shares

198

278

Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]

Dilutive shares

[1]

(Loss) Earnings Per Share (Antidilutive Securities) (Details) - $ / shares shares in Thousands		3 Months Ended		6 Months Ended
	May 08, 2020	Jun. 28, 2020	Jun. 30, 2019	Jun. 28, 2020	Jun. 30, 2019
2025 Notes [Member]
Antidilutive securities excluded from computation of earnings per share [Line Items]
Antidilutive securities not included in the computation of (loss) earnings per share		23,388	0	11,694	0
Debt conversion, converted instrument, shares to be issued	19,348
2025 Notes [Member] \| Convertible debt [Member]
Antidilutive securities excluded from computation of earnings per share [Line Items]
Debt instrument, convertible, conversion price	$ 11.89
Class of warrant or right, exercise price of warrants or rights	$ 16.64
Stock options [Member]
Antidilutive securities excluded from computation of earnings per share [Line Items]
Antidilutive securities not included in the computation of (loss) earnings per share		5,352	4,214	5,009	3,799
Nonvested restricted stock units [Member]
Antidilutive securities excluded from computation of earnings per share [Line Items]
Antidilutive securities not included in the computation of (loss) earnings per share		990	200	821	211
Nonvested performance-based share units [Member]
Antidilutive securities excluded from computation of earnings per share [Line Items]
Antidilutive securities not included in the computation of (loss) earnings per share		624	330	578	295

Stock-based Compensation Plans (Stock-based compensation expense) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019	Jun. 28, 2020	Jun. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense	$ 5,071	$ 5,077	$ 8,285	$ 8,988
Stock options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense	1,038	1,413	1,870	2,572
Restricted stock units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense	2,340	2,410	4,023	4,159
Performance-based share units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense	$ 1,693	$ 1,254	$ 2,392	$ 2,257

Stock-based Compensation Plans (Grants During Period) (Details) shares in Millions	6 Months Ended
	Jun. 28, 2020 shares
Stock options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, options, grants in period, gross	0.1
Restricted stock units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, equity instruments other than options, grants in period	0.4
Performance-based share units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, equity instruments other than options, grants in period	0.5

Stock-based Compensation Plans (Assumptions used in the Black-Scholes option pricing model and the weighted-average fair value of option awards granted) (Details) - Stock options [Member] - $ / shares

6 Months Ended

Jun. 28, 2020

Jun. 30, 2019

Weighted-average risk-free interest rate

^[1]

0.90%

2.39%

Dividend yield

^[2]

4.34%

1.92%

Expected term

^[3]

5 years 6 months

4 years 8 months 12 days

Weighted-average volatility

^[4]

30.43%

30.96%

Weighted-average grant date fair value per option (in dollars per share)

$ 3.12

$ 5.11

[1]	Risk-free interest rate is the U.S. Treasury yield curve in effect as of the grant date for periods within the expected term of the option.
[2]	Dividend yield is the level of dividends expected to be paid on the Company’s common stock over the expected term of the option.
[3]	Expected term represents the period of time that the options are expected to be outstanding. The Company estimates the expected term based on historical exercise experience for its stock options.
[4]	Based on the historical volatility of the Company’s stock.

Stock-based Compensation Plans (Unrecognized stock compensation expense and the remaining weighted-average vesting period) (Details) $ in Thousands	6 Months Ended
	Jun. 28, 2020 USD ($)
Stock options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation, nonvested awards, compensation expense not yet recognized, stock options	$ 5,085
Employee service share-based compensation, nonvested awards, compensation expense not yet recognized, period for recognition	1 year 7 months 6 days
Restricted stock units [Member]
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	$ 15,568
Employee service share-based compensation, nonvested awards, compensation expense not yet recognized, period for recognition	2 years 1 month 6 days
Performance-based share units [Member]
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	$ 12,316
Employee service share-based compensation, nonvested awards, compensation expense not yet recognized, period for recognition	2 years 1 month 6 days

Other Current Assets, Net (Details) - USD ($)
$ in Thousands

Jun. 28, 2020

Mar. 29, 2020

Dec. 29, 2019

Jun. 30, 2019

Mar. 31, 2019

Dec. 30, 2018

Accounts, Notes, Loans and Financing Receivable [Line Items]

Prepaid expenses

$ 21,729

$ 20,218

Deferred gift card sales commissions

13,624

$ 13,049

18,554

$ 10,488

$ 11,195

$ 16,431

Assets held for sale

3,786

3,317

Other current assets, net

8,456

^[1]

3,261

Total other current assets, net

81,489

186,462

Other current assets, net [Member]

49,908

^[2]

60,126

Accounts, Notes, Loans and Financing Receivable [Line Items]

Deferred gift card sales commissions

13,624

18,554

Accounts receivable - gift cards, net [Member]

3,700

Accounts, Notes, Loans and Financing Receivable [Line Items]

Accounts receivable - vendors, net [Member]

13,100

104,591

Accounts, Notes, Loans and Financing Receivable [Line Items]

Accounts receivable - franchisees, net [Member]

6,550

13,465

Accounts, Notes, Loans and Financing Receivable [Line Items]

Accounts receivable - other, net [Member]

545

1,322

Accounts, Notes, Loans and Financing Receivable [Line Items]

Schedule of Other Assets, Net [Line Items]

$ 13,699

$ 21,734

[1]	Includes $3.7 million of Company-owned life insurance policies as of June 28, 2020 transferred to Other current assets, net during the twenty-six weeks ended June 28, 2020 for planned payment of deferred compensation obligations.
[2]	During the twenty-six weeks ended June 28, 2020, the Company reclassified $9.1 million of Company-owned life insurance policies to current assets in anticipation of settlement of such policies to pay deferred compensation obligations.

Property, Fixtures and Equipment, Net (Details) - USD ($) $ in Thousands	Jun. 28, 2020	Dec. 29, 2019
Property, Plant and Equipment [Line Items]
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	$ (1,351,294)	$ (1,357,388)
Property, fixtures and equipment, net	930,032	1,036,077
Land [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	41,298	42,570
Building [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	1,153,329	1,202,434
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	447,195	458,169
Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	617,961	665,815
Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 21,543	$ 24,477

Goodwill and Intangible Assets, Net (Details) - USD ($)	3 Months Ended			6 Months Ended
Goodwill and Intangible Assets, Net (Details) - USD ($)	Jun. 28, 2020	Mar. 29, 2020	Jun. 30, 2019	Jun. 28, 2020
Goodwill [Roll Forward]
Balance as of December 29, 2019		$ 288,439,000		$ 288,439,000
Translation adjustments				(15,071,000)
Impairment charges	$ 0		$ 0	(1,973,000)
Balance as of June 28, 2020	271,395,000			271,395,000
Impairment of intangible assets, indefinite-lived (excluding goodwill)	0		$ 0
U.S. segment [Member]
Goodwill [Roll Forward]
Balance as of December 29, 2019		170,657,000		170,657,000
Translation adjustments				0
Impairment charges				0
Balance as of June 28, 2020	170,657,000			170,657,000
International segment [Member]
Goodwill [Roll Forward]
Balance as of December 29, 2019		117,782,000		117,782,000
Translation adjustments				(15,071,000)
Impairment charges				(1,973,000)
Balance as of June 28, 2020	$ 100,738,000			$ 100,738,000
International segment [Member] \| Outback Hong Kong [Member]
Goodwill [Roll Forward]
Impairment charges		$ (2,000,000.0)

Other Assets, Net (Details) - USD ($)
$ in Thousands

Jun. 28, 2020

Dec. 29, 2019

Accumulated amortization, deferred financing fees

$ 49,908

^[1]

$ 60,126

Deferred financing fees

^[2]

5,909

4,893

Liquor licenses

24,250

24,289

Other assets

19,039

27,802

Other assets, net

99,106

117,110

7,700

$ 6,800

Current Assets [Member]

Schedule of Other Assets, Net [Line Items]

$ 9,100

[1]	During the twenty-six weeks ended June 28, 2020, the Company reclassified $9.1 million of Company-owned life insurance policies to current assets in anticipation of settlement of such policies to pay deferred compensation obligations.
[2]	Net of accumulated amortization of $7.7 million and $6.8 million as of June 28, 2020 and December 29, 2019, respectively.

Long-term Debt, net (Schedule of Long-term Debt, Net) (Details) - USD ($)
$ in Thousands

Jun. 28, 2020

May 08, 2020

Dec. 29, 2019

Finance lease liabilities

$ 1,957

$ 2,308

Less: unamortized debt discount and issuance costs

(73,665)

(2,654)

Total debt, net

1,210,792

1,048,704

Less: current portion of long-term debt

(32,354)

(26,411)

Long-term debt, net

1,178,438

1,022,293

Secured debt [Member] | Senior Secured Credit Facility [Member]

Secured debt [Member] | Term loan A facility [Member] | Senior Secured Credit Facility [Member]

Long-term debt, gross

1,052,500

1,049,000

Secured debt [Member] | Term loan A facility [Member] | Senior Secured Credit Facility [Member] | Weighted average [Member]

Long-term debt, gross

$ 437,500

$ 450,000

Debt instrument, interest rate at period end

^[1]

2.90%

3.40%

Secured debt [Member] | Revolving credit facility [Member] | Senior Secured Credit Facility [Member]

Line of credit facility, amount outstanding

$ 615,000

$ 599,000

Secured debt [Member] | Revolving credit facility [Member] | Senior Secured Credit Facility [Member] | Weighted average [Member]

Debt instrument, interest rate at period end

^[1]

2.89%

3.44%

Convertible debt [Member] | 2025 Notes [Member]

Debt instrument, interest rate, stated percentage

Long-term debt, gross

^[2]

$ 230,000

$ 0

5.00%

^[2]

5.00%

Unsecured debt [Member] | Notes payable, other payables [Member]

Debt instrument, interest rate, stated percentage

Other

$ 0

$ 50

2.18%

[1]	Interest rate represents the weighted-average interest rate for the respective periods.
[2]	See Note 12 - Convertible Senior Notes for details regarding the convertible senior notes and related hedge and warrant transactions

Long-term Debt, Net Long-term Debt, Net (Schedule of Maximum TNLR) (Details) - Amended Credit Agreement [Member] - Secured debt [Member]

6 Months Ended

Jun. 28, 2020

Debt covenants compliance, quarterly total net leverage ratio, maximum ratio level, period one

5.50

^[1]

Debt covenants compliance, quarterly total net leverage ratio, initial maximum ratio level, period two

5.00

^[2]

Debt covenants compliance, quarterly total net leverage ratio, initial maximum ratio level, period three

4.50

^[3]

Annualization factor, period one

34.10%

Annualization factor, period two

0.585

Annualization factor, period three

0.770

[1]	Seasonally annualized Consolidated EBITDA calculated as Consolidated EBITDA for the fiscal quarter ending March 28, 2021 divided by 34.1%.
[2]	Seasonally annualized Consolidated EBITDA calculated as Consolidated EBITDA for the two consecutive quarters ending June 27, 2021 divided by 58.5%.
[3]	Seasonally annualized Consolidated EBITDA calculated as Consolidated EBITDA for the three consecutive quarters ending September 26, 2021 divided by 77.0%.

Long-term Debt, Net Long-term Debt, Net (Amended Credit Agreement Narrative) (Details) - Secured debt [Member]	May 04, 2020 USD ($)
Amended Credit Agreement [Member]
Debt Instrument [Line Items]
Debt instrument, covenant, monthly minimum liquidity	$ 125,000,000.0
Debt Instrument, covenant, monthly minimum liquidity, unrestricted cash in foreign subsidiaries	$ 25,000,000.0
Amended Credit Agreement [Member] \| Eurocurrency Rate [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	27500.00%
Amended Credit Agreement [Member] \| Base Rate [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	17500.00%
Amended Credit Agreement [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Debt instrument, covenant, aggregate capital expenditures	$ 100,000,000.0
Debt instrument, covenant, investment in foreign subsidiaries	$ 27,500,000
Amended Credit Agreement [Member] \| Minimum [Member] \| Eurocurrency Rate [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate, floor	0.00%
Letter of credit [Member]
Debt Instrument [Line Items]
Letters of credit fee, percentage	2.75%
Revolving credit facility [Member]
Debt Instrument [Line Items]
Line of credit facility, unused capacity, commitment fee percentage	0.40%

Long-term Debt, Net (Deferred Financing Fees) (Details) - Secured debt [Member] - Amended Credit Agreement [Member] $ in Millions	Jun. 28, 2020 USD ($)
Debt Instrument [Line Items]
Debt issuance costs	$ 2.9
Other assets, net [Member]
Debt Instrument [Line Items]
Debt issuance costs	2.0
Long-term debt, net [Member]
Debt Instrument [Line Items]
Debt issuance costs	$ 0.9

Convertible Senior Notes (Convertible Notes Text) (Details) - 2025 Notes [Member]
$ / shares in Units, shares in Thousands

May 08, 2020

USD ($)

$ / shares

Jun. 28, 2020

USD ($)

May 12, 2020

USD ($)

Debt conversion, converted instrument, shares to be issued | shares

19,348

Convertible debt [Member]

Debt instrument, face amount

$ 200,000,000.0

$ 230,000,000

$ 30,000,000.0

Debt instrument, interest rate, stated percentage

5.00%

^[1]

Long-term debt, maturity date

May 01, 2025

Debt instrument, convertible, conversion ratio

84.122

Debt instrument, convertible principal amount

$ 1,000

Debt instrument, face amount, total

$ 230,000,000.0

Debt instrument, convertible, conversion price | $ / shares

$ 11.89

Proceeds from issuance of private placement

$ 221,600,000

[1]	See Note 12 - Convertible Senior Notes for details regarding the convertible senior notes and related hedge and warrant transactions

Convertible Senior Notes (Schedule of Convertible Notes) (Details) - Convertible debt [Member] - 2025 Notes [Member] - USD ($)
$ in Thousands

3 Months Ended

Jun. 28, 2020

May 12, 2020

May 08, 2020

Additional paid-in capital [Member]

Principal

$ 230,000

$ 30,000

$ 200,000

Debt discount

^[1]

(66,137)

Debt issuance costs

^[1]

(5,996)

Net carrying amount

157,867

Equity component

^[2]

64,367

Schedule of Other Long-term Liabilities, Net [Line Items]

Equity issuance costs

2,400

Deferred tax assets, net

$ 600

[1]	Debt discount and issuance costs are amortized to interest expense using the effective interest method over the expected life of the 2025 Notes.
[2]	Recorded in Additional paid-in capital on the Consolidated Balance Sheet. Includes $2.4 million of equity issuance costs and net deferred tax assets of $0.6 million.

Convertible Senior Notes (Convertible Notes Hedge Transactions) (Details) - Convertible debt [Member] - 2025 Notes [Member] $ / shares in Units, $ in Millions	May 08, 2020 USD ($) $ / shares
Debt Instrument [Line Items]
Class of warrant or right, exercise price of warrants or rights \| $ / shares	$ 16.64
Convertible debt proceeds used for payments for hedge activities, net of warrant proceeds \| $	$ 19.6

Other Long-term Liabilities, Net (Details) - USD ($)
$ in Thousands

6 Months Ended

Jun. 28, 2020

Dec. 29, 2019

Accrued insurance liability

$ 32,740

$ 33,818

Chef and Restaurant Managing Partner deferred compensation obligations

38,187

47,831

Other long-term liabilities

91,971

^[1]

56,411

Other long-term liabilities, net

162,898

$ 138,060

Other long-term liabilities, net [Member]

Schedule of Other Long-term Liabilities, Net [Line Items]

Deferred payroll tax liabilities from CARES Act

16,900

Other long-term liabilities, net [Member] | Property lease guarantee [Member]

Schedule of Other Long-term Liabilities, Net [Line Items]

Other long-term liabilities, net [Member] | Designated as hedging instrument [Member] | Interest rate swap [Member]

8,600

Schedule of Other Long-term Liabilities, Net [Line Items]

Other comprehensive loss, unrealized loss on derivatives arising during period, before tax

$ 7,300

[1]

The increase in Other long-term liabilities during the twenty-six weeks ended June 28, 2020, primarily relates to $16.9 million related to deferred payroll tax liabilities (as allowed for in the Coronavirus, Aid, Relief and Economic Security Act), $8.6 million of additional contingent lease liabilities subsequent to the adoption of ASU No. 2016-13 and $7.3 million of additional interest rate swap liabilities. See Note 19 - Income Taxes, Note 20 - Commitments and Contingencies and Note 15 - Derivative Instruments and Hedging Activities, respectively, for details regarding these increases.

Stockholders' Equity (Dividend) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 29, 2020	Jun. 30, 2019	Jun. 28, 2020	Jun. 30, 2019
Stockholders' Equity Attributable to Parent [Abstract]
Common stock, dividends, per share, cash paid	$ 0.20
Dividends, common stock, cash	$ 17,480	$ 9,227	$ 17,480	$ 18,367

Stockholders' Equity (Redeemable Preferred Stock) (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Mar. 29, 2020	Jun. 28, 2020	Jun. 30, 2019
Accumulated other comprehensive loss [Line Items]
Payments for repurchase of redeemable preferred stock	$ 1,000	$ 1,475	$ 0
Redemption of preferred stock in excess of carrying value		1,718
Additional paid-in capital [Member]
Accumulated other comprehensive loss [Line Items]
Redemption of preferred stock in excess of carrying value	$ 3,500	$ 3,496

Stockholders' Equity (Accumulated Other Comprehensive Loss) (Details) - USD ($) $ in Thousands	Jun. 28, 2020	Dec. 29, 2019
Accumulated other comprehensive loss [Line Items]
Accumulated other comprehensive loss	$ (217,130)	$ (169,776)
Foreign currency translation adjustment [Member]
Accumulated other comprehensive loss [Line Items]
Accumulated other comprehensive loss	(188,474)	(152,031)
Unrealized loss on derivatives, net of tax [Member]
Accumulated other comprehensive loss [Line Items]
Accumulated other comprehensive loss	$ (28,656)	$ (17,745)

Stockholders' Equity (Other Comprehensive Loss) (Details) - USD ($)
$ in Thousands

3 Months Ended

6 Months Ended

Jun. 28, 2020

Jun. 30, 2019

Jun. 28, 2020

Jun. 30, 2019

Accumulated other comprehensive loss [Line Items]

Unrealized loss on derivatives, net of tax

$ (1,556)

$ (7,239)

$ (14,892)

$ (11,620)

Reclassification of adjustment for loss (gain) on derivatives included in Net (loss) income, net of tax

2,585

130

3,981

(234)

Other comprehensive loss attributable to Bloomin’ Brands

(28,117)

(15,585)

(48,018)

(14,575)

Bloomin' Brands [Member]

Accumulated other comprehensive loss [Line Items]

Foreign currency translation adjustment, net of tax

(29,146)

(8,584)

(36,443)

(2,737)

Unrealized loss on derivatives, net of tax

^[1]

(1,556)

(7,239)

(14,892)

(11,620)

Reclassification of adjustment for loss (gain) on derivatives included in Net (loss) income, net of tax

^[2]

2,585

130

3,981

(234)

Total unrealized gain (loss) on derivatives, net of tax

1,029

(7,109)

(10,911)

(11,854)

Other comprehensive loss attributable to Bloomin’ Brands

(28,117)

(15,693)

(47,354)

(14,591)

Other comprehensive income, unrealized (loss) gain on derivatives arising during period, tax

$ (500)

$ (2,500)

$ (5,200)

$ (4,000)

[1]	Unrealized loss on derivatives is net of tax of $0.5 million and $2.5 million for the thirteen weeks ended June 28, 2020 and June 30, 2019 and $5.2 million and $4.0 million for the twenty-six weeks ended June 28, 2020 and June 30, 2019, respectively.
[2]	Reclassifications of adjustments for loss (gain) on derivatives are net of tax. See Note 15 - Derivative Instruments and Hedging Activities for the tax impact of reclassifications.

Derivative Instruments and Hedging Activities (Cash flow hedges of interest rate risk) (Details) - Designated as hedging instrument [Member] - Interest rate swap [Member] $ in Millions		6 Months Ended
	Oct. 25, 2018 USD ($) counterparties	Jun. 28, 2020 USD ($)
Derivative [Line Items]
Derivative agreements, number of counterparties \| counterparties	12
Derivative, notional amount	$ 550.0
Derivative, maturity date	Nov. 30, 2022
Derivative, average fixed interest rate	3.04%
Interest expense [Member]
Derivative [Line Items]
Cash flow hedge loss to be reclassified within twelve fiscal months		$ 16.0
London Interbank Offered Rate (LIBOR) swap rate [Member]
Derivative [Line Items]
Derivative, variable interest rate	one-month LIBOR
Minimum [Member]
Derivative [Line Items]
Derivative, inception date	Oct. 24, 2018
Maximum [Member]
Derivative [Line Items]
Derivative, inception date	Oct. 25, 2018

Derivative Instruments and Hedging Activities (Fair value and classification of interest rate swaps) (Details) - Interest rate swap [Member] - Designated as hedging instrument [Member] - USD ($)
$ in Thousands

Jun. 28, 2020

Dec. 29, 2019

Derivative [Line Items]

Derivative, interest rate swaps, liabilities, fair value

^[1]

$ 38,707

$ 24,009

Accrued and other current liabilities [Member]

Derivative [Line Items]

Derivative, interest rate swaps, liabilities, fair value

14,555

7,174

Interest payable

1,356

632

Other long-term liabilities, net [Member]

Derivative [Line Items]

Derivative, interest rate swaps, liabilities, fair value

$ 24,152

$ 16,835

[1]	See Note 17 - Fair Value Measurements for fair value discussion of the interest rate swaps.

Derivative Instruments and Hedging Activities (Effects of the interest rate swaps) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019	Jun. 28, 2020	Jun. 30, 2019	Dec. 29, 2019
Derivative [Line Items]
Total effects of the interest rate swaps on Net (loss) income	$ (2,585)	$ (130)	$ (3,981)	$ 234
Interest rate swap [Member] \| Designated as hedging instrument [Member]
Derivative [Line Items]
Total effects of the interest rate swaps on Net (loss) income	(2,585)	(130)	(3,981)	234
Derivative, net liability position, aggregate fair value	40,500		40,500		$ 24,800
Derivative, termination value	40,500		40,500		$ 24,800
Interest rate swap [Member] \| Designated as hedging instrument [Member] \| Interest expense [Member]
Derivative [Line Items]
Interest rate swap (expense) income recognized in Interest expense, net	(3,482)	(175)	(5,362)	316
Interest rate swap [Member] \| Designated as hedging instrument [Member] \| Income tax expense [Member]
Derivative [Line Items]
Income tax benefit (expense) recognized in (Benefit) provision for income taxes	$ 897	$ 45	$ 1,381	$ (82)

Leases Lessee, Lease Assets and Liabilities (Details) - USD ($)
$ in Thousands

Jun. 28, 2020

Dec. 29, 2019

Schedule of Leased Assets and Liabilities - Lessee [Line Items]

Operating lease right-of-use assets

$ 1,212,916

$ 1,266,548

Total lease assets, net

1,214,645

1,268,584

Non-current operating lease liabilities

1,248,941

1,279,051

Total lease liability

1,428,134

1,453,225

Accumulated amortization, finance lease right-of-use assets

1,351,294

1,357,388

Accrued contingent percentage rent

2,700

2,400

COVID-19 pandemic [Member]

Schedule of Leased Assets and Liabilities - Lessee [Line Items]

Accrued rent

18,300

Finance lease assets [Member]

Schedule of Leased Assets and Liabilities - Lessee [Line Items]

Accumulated amortization, finance lease right-of-use assets

1,800

1,300

Operating lease right-of-use assets [Member]

Schedule of Leased Assets and Liabilities - Lessee [Line Items]

Operating lease right-of-use assets

1,212,916

1,266,548

Property, fixtures and equipment, net [Member]

Schedule of Leased Assets and Liabilities - Lessee [Line Items]

Finance lease right-of-use assets

^[1]

1,729

2,036

Accrued and other current liabilities [Member]

Schedule of Leased Assets and Liabilities - Lessee [Line Items]

Current operating lease liabilities

^[2]

177,236

171,866

Current portion of long-term debt [Member]

Schedule of Leased Assets and Liabilities - Lessee [Line Items]

Current finance lease liabilities

1,104

1,361

Non-current operating lease liabilities [Member]

Schedule of Leased Assets and Liabilities - Lessee [Line Items]

Non-current operating lease liabilities

1,248,941

1,279,051

Long term debt, net [Member]

Schedule of Leased Assets and Liabilities - Lessee [Line Items]

Non-current finance lease liabilities

$ 853

$ 947

[1]	Net of accumulated amortization of $1.8 million and $1.3 million as of June 28, 2020 and December 29, 2019, respectively.
[2]	Excludes COVID-19-related deferred rent accruals of $18.3 million as of June 28, 2020 and accrued contingent percentage rent of $2.7 million and $2.4 million, as of June 28, 2020 and December 29, 2019, respectively.

Leases Lessee, Lease Costs (Details) - USD ($)
$ in Thousands

3 Months Ended

6 Months Ended

Jun. 28, 2020

Jun. 30, 2019

Jun. 28, 2020

Jun. 30, 2019

Operating lease, lease income

Lease costs, net

$ 41,973

$ 44,465

$ 87,686

$ 89,600

100

700

300

1,400

Other restaurant operating [Member]

Depreciation and amortization [Member]

Operating leases

^[1]

42,776

45,079

88,658

90,312

Variable lease cost

(1,046)

746

1,565

Amortization of leased assets

315

360

657

684

Interest expense [Member]

Interest on lease liabilities

145

Franchise and other revenues [Member]

General and administrative expense [Member]

Sublease revenue

^[2]

(109)

(1,792)

(1,786)

(3,106)

Operating leases

3,300

3,700

6,900

7,200

Cost of sales [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Operating leases

$ 300

$ 600

[1]

Excludes rent expense for office facilities and Company-owned closed or subleased properties of $3.3 million and $3.7 million for the thirteen weeks ended June 28, 2020 and June 30, 2019, respectively, and $6.9 million and $7.2 million for the twenty-six weeks ended June 28, 2020 and June 30, 2019, respectively, which is included in General and administrative expense. Also excludes certain supply chain related rent expense of $0.3 million for the thirteen weeks ended June 28, 2020 and June 30, 2019 and $0.6 million for the twenty-six weeks ended June 28, 2020 and June 30, 2019, which is included in Cost of sales.

[2]

Excludes rental income from Company-owned properties of $0.1 million and $0.7 million for the thirteen weeks ended June 28, 2020 and June 30, 2019, respectively, and $0.3 million and $1.4 million for the twenty-six weeks ended June 28, 2020 and June 30, 2019, respectively.

Leases Lessee, Other Information (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019
Leases [Abstract]
Cash paid for amounts included in the measurement of operating lease liabilities	$ 75,688	$ 95,532

Fair Value Measurements (Fair value measurements on a recurring basis) (Details) - Fair value, measurements, recurring [Member] - USD ($) $ in Thousands	Jun. 28, 2020	Dec. 29, 2019
Fair value, inputs, level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	$ 17,261	$ 13,789
Liabilities, fair value disclosure	0	0
Fair value, inputs, level 1 [Member] \| Accrued and other current liabilities [Member] \| Interest rate swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative instruments - interest rate swaps, current liabilities	0	0
Fair value, inputs, level 1 [Member] \| Other long-term liabilities, net [Member] \| Interest rate swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative instruments - interest rate swaps, other long-term liabilities	0	0
Fair value, inputs, level 1 [Member] \| Fixed income funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents, fair value disclosure	6,567	1,037
Fair value, inputs, level 1 [Member] \| Money market funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents, fair value disclosure	9,595	12,752
Restricted cash and cash equivalents, fair value disclosure	1,099	0
Fair value, inputs, level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	0	0
Liabilities, fair value disclosure	38,707	24,009
Fair value, inputs, level 2 [Member] \| Accrued and other current liabilities [Member] \| Interest rate swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative instruments - interest rate swaps, current liabilities	14,555	7,174
Fair value, inputs, level 2 [Member] \| Other long-term liabilities, net [Member] \| Interest rate swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative instruments - interest rate swaps, other long-term liabilities	24,152	16,835
Fair value, inputs, level 2 [Member] \| Fixed income funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents, fair value disclosure	0	0
Fair value, inputs, level 2 [Member] \| Money market funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents, fair value disclosure	0	0
Restricted cash and cash equivalents, fair value disclosure	0	0
Carrying value measurement [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	17,261	13,789
Liabilities, fair value disclosure	38,707	24,009
Carrying value measurement [Member] \| Accrued and other current liabilities [Member] \| Interest rate swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative instruments - interest rate swaps, current liabilities	14,555	7,174
Carrying value measurement [Member] \| Other long-term liabilities, net [Member] \| Interest rate swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative instruments - interest rate swaps, other long-term liabilities	24,152	16,835
Carrying value measurement [Member] \| Fixed income funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents, fair value disclosure	6,567	1,037
Carrying value measurement [Member] \| Money market funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents, fair value disclosure	9,595	12,752
Restricted cash and cash equivalents, fair value disclosure	$ 1,099	$ 0

Fair Value Measurements (Fair value measurements on a nonrecurring basis) (Details) - Fair value, measurements, nonrecurring [Member] - USD ($)
$ in Thousands

3 Months Ended

6 Months Ended

Jun. 28, 2020

Jun. 30, 2019

Jun. 28, 2020

Jun. 30, 2019

Operating lease right-of-use assets [Member]

$ 23,918

$ 1,932

$ 64,342

$ 5,414

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Operating lease assets, impairment

4,028

1,770

23,591

2,366

Operating lease right-of-use assets [Member] | Fair value, inputs, level 2 [Member] | Assets measured with impairment, year-to-date [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Operating lease right-of-use assets [Member] | Fair value, inputs, level 3 [Member] | Assets measured with impairment, year-to-date [Member]

200

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Property, fixtures and equipment, net [Member]

2,100

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Property, fixtures and equipment, impairment

19,595

162

37,993

2,833

Property, fixtures and equipment, net [Member] | Fair value, inputs, level 2 [Member] | Assets measured with impairment, quarter-to-date [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Property, fixtures and equipment, net [Member] | Fair value, inputs, level 2 [Member] | Assets measured with impairment, year-to-date [Member]

500

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Property, fixtures and equipment, net [Member] | Fair value, inputs, level 3 [Member] | Assets measured with impairment, quarter-to-date [Member]

2,200

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Property, fixtures and equipment, net [Member] | Fair value, inputs, level 3 [Member] | Assets measured with impairment, year-to-date [Member]

9,400

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Goodwill and other assets [Member]

26,200

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Assets held for sale [Member]

295

2,683

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Assets held for sale, impairment

215

Carrying value measurement [Member] | Assets measured with impairment, quarter-to-date [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Carrying value measurement [Member] | Assets measured with impairment, year-to-date [Member]

43,144

580

43,144

580

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Carrying value measurement [Member] | Operating lease right-of-use assets [Member] | Assets measured with impairment, year-to-date [Member]

115,857

5,461

115,857

5,461

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Carrying value measurement [Member] | Operating lease right-of-use assets [Member] | Fair value, inputs, level 3 [Member] | Assets measured with impairment, quarter-to-date [Member]

^[1]

2,356

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Carrying value measurement [Member] | Operating lease right-of-use assets [Member] | Fair value, inputs, level 3 [Member] | Assets measured with impairment, year-to-date [Member]

^[1]

32,404

114

32,404

114

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Carrying value measurement [Member] | Property, fixtures and equipment, net [Member] | Assets measured with impairment, quarter-to-date [Member]

^[1]

85,537

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Carrying value measurement [Member] | Property, fixtures and equipment, net [Member] | Assets measured with impairment, year-to-date [Member]

^[2]

9,992

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Carrying value measurement [Member] | Property, fixtures and equipment, net [Member] | Fair value, inputs, level 3 [Member] | Assets measured with impairment, quarter-to-date [Member]

^[2]

28,390

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Carrying value measurement [Member] | Property, fixtures and equipment, net [Member] | Fair value, inputs, level 3 [Member] | Assets measured with impairment, year-to-date [Member]

^[2]

466

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Carrying value measurement [Member] | Goodwill and other assets [Member] | Fair value, inputs, level 2 [Member] | Assets measured with impairment, quarter-to-date [Member]

^[2]

956

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Carrying value measurement [Member] | Goodwill and other assets [Member] | Fair value, inputs, level 2 [Member] | Assets measured with impairment, year-to-date [Member]

^[3]

748

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Carrying value measurement [Member] | Assets held for sale [Member] | Fair value, inputs, level 2 [Member] | Assets measured with impairment, year-to-date [Member]

^[3]

748

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Guarantor obligations, maximum exposure, undiscounted

^[4]

$ 1,182

$ 2,149

$ 1,182

$ 2,149

[1]	Carrying values measured using Level 2 inputs to estimate fair value totaled $0.2 million during the twenty-six weeks ended June 30, 2019. All other assets were valued using Level 3 inputs. Third-party market appraisals (Level 2) and discounted cash flow models (Level 3) were used to estimate fair value.
[2]	Carrying values measured using Level 2 inputs to estimate fair value totaled $0.5 million and $2.2 million during the thirteen and twenty-six weeks ended June 28, 2020, respectively. All other assets were valued using Level 3 inputs. Third-party market appraisals (Level 2) and discounted cash flow models (Level 3) were used to estimate fair value.
[3]	All assets measured using the quoted market value of comparable assets (Level 2).
[4]	Assets generally measured using third-party market appraisals or executed sales contracts (Level 2).

Fair Value Measurements (Fair value inputs on a nonrecurring basis) (Details) - Operating lease right-of-use-asset and property, fixtures and equipment [Member] - Fair value, measurements, nonrecurring [Member] - Fair value, inputs, level 3 [Member]	3 Months Ended	6 Months Ended
	Jun. 28, 2020	Jun. 28, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value inputs, weighted-average cost of capital	10.90%
Minimum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value inputs, weighted-average cost of capital		10.40%
Fair value inputs, long-term growth rate	1.50%	1.50%
Maximum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value inputs, weighted-average cost of capital		10.90%
Fair value inputs, long-term growth rate	2.00%	2.00%

Fair Value Measurements (Carrying value and fair value of debt by hierarchy level) (Details) - USD ($) $ in Thousands	Jun. 28, 2020	Dec. 29, 2019
Secured debt [Member] \| Senior Secured Credit Facility [Member] \| Fair value, inputs, level 2 [Member] \| Term loan A facility [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans payable, fair value disclosure	$ 424,375	$ 450,563
Secured debt [Member] \| Senior Secured Credit Facility [Member] \| Fair value, inputs, level 2 [Member] \| Revolving credit facility [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans payable, fair value disclosure	577,319	599,000
Secured debt [Member] \| Senior Secured Credit Facility [Member] \| Carrying value measurement [Member] \| Term loan A facility [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value	437,500	450,000
Secured debt [Member] \| Senior Secured Credit Facility [Member] \| Carrying value measurement [Member] \| Revolving credit facility [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value	615,000	599,000
Convertible debt [Member] \| 2025 Notes [Member] \| Fair value, inputs, level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Convertible debt, fair value disclosures	246,100	0
Convertible debt [Member] \| 2025 Notes [Member] \| Carrying value measurement [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value	$ 230,000	$ 0

Allowance for Expected Credit Losses Allowance for Expected Credit Losses Rollforward (Details) - USD ($) $ in Thousands		3 Months Ended	6 Months Ended
	Dec. 30, 2019	Jun. 28, 2020	Jun. 28, 2020
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for credit losses, beginning of period	$ 199	$ 4,551	$ 199
Provision for expected credit losses		15	3,349
Allowance for credit losses, end of period		4,566	4,566
ASU No. 2016-13 [Member]
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Adjustment for adoption of ASU No. 2016-13	$ 1,000	$ 0	$ 1,018

Income Taxes - Change in Effective Rate (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019	Jun. 28, 2020	Jun. 30, 2019
Income Tax Disclosure [Abstract]
(Loss) income before (benefit) provision for income taxes	$ (128,207)	$ 31,024	$ (182,276)	$ 102,169
(Benefit) provision for income taxes	$ (35,779)	$ 1,215	$ (55,434)	$ 6,711
Effective income tax rate	27.90%	3.90%	30.40%	6.60%
Change in effective income tax rate, percent	24.00%		23.80%
Blended federal and state statutory income tax rate	26.00%		26.00%

Income Taxes - Tax Carryforwards (Details) - Internal Revenue Service (IRS) [Member] - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 28, 2020	Dec. 27, 2021	Dec. 29, 2019
Income Tax Contingency [Line Items]
General business tax credit carryforwards			$ 128.6
Minimum [Member] \| Forecast [Member]
Income Tax Contingency [Line Items]
General business tax credits, estimated future tax credits		$ 30.0
Maximum [Member]
Income Tax Contingency [Line Items]
General business tax credits, estimated period of use	10 years
Maximum [Member] \| Forecast [Member]
Income Tax Contingency [Line Items]
General business tax credits, estimated future tax credits		$ 40.0

Income Taxes - Deferred Taxes (Details) $ in Millions	6 Months Ended
Income Taxes - Deferred Taxes (Details) $ in Millions	Jun. 28, 2020 USD ($)
Text Block [Abstract]
Valuation allowance, deferred tax asset, increase, amount	$ 56.1

Commitments and Contingencies - Litigation and Other Matters (Details) - USD ($) $ in Millions	Jun. 28, 2020	Dec. 29, 2019
Commitments and Contingencies Disclosure [Abstract]
Estimated litigation liability	$ 4.2	$ 3.0

Commitments and Contingencies – Lease Guarantees (Details) - Property lease guarantee [Member] - USD ($)
$ in Thousands

1 Months Ended

3 Months Ended

6 Months Ended

Mar. 31, 2020

Jun. 28, 2020

Loss Contingencies [Line Items]

$ 32,600

Guarantee obligations, maximum exposure at present value

20,500

General and administrative expense [Member] | COVID-19 pandemic [Member]

9,600

Loss Contingencies [Line Items]