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      "text": "2024 Outlook has been excerpted from our Quarterly Report on Form 10-Q filed with the SEC on August 8, 2024 (“Form 10-Q\"). Long-Term Outlook has been excerpted from our Annual Report on Form 10-K filed with the SEC on February 22, 2024 (\"Form 10-K\"). 2024 and Long-Term Outlooks comprise forward-looking statements that reflect current expectations, are not guarantees of performance and speak only as of the date of the respective Form 10-Q and Form 10-K filings. You should not unduly rely on forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include those reflected under \"Risk Factors\" in the Form 10-Q and elsewhere in our filings with the SEC.",
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      "text": "This presentation contains financial measures that are not calculated in accordance with generally accepted accounting principles in the United States (\"GAAP\"), including Systemwide sales, free cash flow conversion and adjusted operating margin. Systemwide sales include sales at all restaurants, whether operated by us or by franchisees. Free cash flow conversion is free cash flow (cash provided by operations, less capital expenditures) divided by net income. Adjusted operating margin is defined as non-GAAP operating income (operating income adjusted for certain special gains and charges) divided by total revenues. More information about these non-GAAP financial measures, including why management believes they provide useful information to investors, can be found in our filings with the Securities and Exchange Commission (the “SEC”). See the Appendix to this presentation for reconciliations of these non-GAAP financial measures to the most directly comparable financial measures calculated and presented in accordance with GAAP.",
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