Total revenues increased primarily due to Brazil value added tax exemptions, foreign currency translation effects, and the net impact of restaurant openings and closures.

GAAP operating income margin improved from Q3 2022 primarily due to an increase in restaurant-level operating margin and a lease termination gain, partially offset by higher depreciation expense.

Restaurant-level operating margin improved from Q3 2022 primarily due to an increase in average check per person, cost-saving and productivity initiatives, and the benefit of Brazil value added tax exemptions, partially offset by labor, operating expense, commodity inflation, and higher advertising expense.

On October 17, 2023, the Board of Directors declared a quarterly cash dividend of $0.24 per share, payable on November 29, 2023.