SEGMENT INFORMATION Segment information is prepared on the same basis the chief operating decision maker reviews financial information for operational decision-making purposes. During the first quarter of fiscal year 2018, the Company redefined its operating segments to reflect how the chief operating decision maker evaluates the business as a result of the sale of the mall-based business and International segment sale. See Note 1 to the Consolidated Financial Statements. The Company now reports its operations in two operating segments: Franchise salons and Company-owned salons. The Company's operating segments are its reportable operating segments. Prior to this change, the Company had four operating segments: North American Value, North American Premium, North American Franchise, and International. The Company did not operate under the realigned operating segment structure prior to the first quarter of fiscal year 2018. The Franchise salons reportable operating segment is comprised of 3,951 franchised salons located mainly in strip center locations and Walmart Supercenters. Franchise salons offer high quality, convenient and value priced hair care and beauty services and retail products. This segment operates primarily in the United States and Canada and primarily includes the Supercuts, SmartStyle, Cost Cutters, First Choice Haircutters, Roosters and Magicuts concepts. The Company-owned salons reportable operating segment is comprised of 3,108 company-owned salons located mainly in strip center locations and Walmart Supercenters. Company-owned salons offer high quality, convenient and value priced hair care and beauty services and retail products. SmartStyle, Supercuts, Cost Cutters and other regional trade names operating in the United States, Canada and Puerto Rico are generally within the Company-owned salons segment. Financial information concerning the Company's reportable operating segments is shown in the following table: For the Year Ended June 30, 2019 Company-owned Franchise Corporate (1) Consolidated (Dollars in thousands) Revenues: Service $ 749,660 $  $  $ 749,660 Product 165,713 59,905  225,618 Royalties and fees  93,761  93,761 915,373 153,666  1,069,039 Operating expenses: Cost of service 452,827   452,827 Cost of product 81,597 47,219  128,816 Site operating expenses 106,932 34,099  141,031 General and administrative 57,219 32,888 86,897 177,004 Rent 130,214 740 862 131,816 Depreciation and amortization 28,263 762 8,823 37,848 TBG restructuring  21,816  21,816 Total operating expenses 857,052 137,524 96,582 1,091,158 Operating income (loss) 58,321 16,142 (96,582 ) (22,119 ) Other (expense) income: Interest expense   (4,795 ) (4,795 ) Gain from sale of salon assets to franchisees, net   2,918 2,918 Interest income and other, net   1,729 1,729 Income (loss) from continuing operations before income taxes and equity in loss of affiliated companies $ 58,321 $ 16,142 $ (96,730 ) $ (22,267 ) For the Year Ended June 30, 2018 Company-owned Franchise Corporate (1) Consolidated (Dollars in thousands) Revenues: Service $ 899,345 $  $  $ 899,345 Product 205,037 53,703  258,740 Royalties and fees  77,394  77,394 1,104,382 131,097  1,235,479 Operating expenses: Cost of service 530,582   530,582 Cost of product 98,495 42,128  140,623 Site operating expenses 127,249 26,818  154,067 General and administrative 67,163 25,880 81,002 174,045 Rent 181,869 269 958 183,096 Depreciation and amortization 48,508 365 9,332 58,205 Total operating expenses 1,053,866 95,460 91,292 1,240,618 Operating income (loss) 50,516 35,637 (91,292 ) (5,139 ) Other (expense) income: Interest expense   (10,492 ) (10,492 ) Gain from sale of salon assets to franchisees, net   241 241 Interest income and other, net   5,199 5,199 Income (loss) from continuing operations before income taxes and equity in loss of affiliated companies $ 50,516 $ 35,637 $ (96,344 ) $ (10,191 ) For the Year Ended June 30, 2017 Company-owned Franchise Corporate (1) Consolidated (Dollars in thousands) Revenues: Service $ 960,781 $  $  $ 960,781 Product 229,308 30,623  259,931 Royalties and fees  72,088  72,088 1,190,089 102,711  1,292,800 Operating expenses: Cost of service 610,384   610,384 Cost of product 103,611 22,686  126,297 Site operating expenses 127,797 25,871  153,668 General and administrative 47,673 21,222 88,440 157,335 Rent 179,463 171 844 180,478 Depreciation and amortization 42,273 357 9,458 52,088 Total operating expenses 1,111,201 70,307 98,742 1,280,250 Operating income (loss) 78,888 32,404 (98,742 ) 12,550 Other (expense) income: Interest expense   (8,584 ) (8,584 ) Gain from sale of salon assets to franchisees, net   492 492 Interest income and other, net   1,471 1,471 Income (loss) from continuing operations before income taxes and equity in loss of affiliated companies $ 78,888 $ 32,404 $ (105,363 ) $ 5,929 _______________________________________________________________________________ (1) Corporate consists primarily of unallocated general and administrative expenses, including expenses associated with salon support, depreciation and amortization related to our corporate headquarters and unallocated insurance, benefit and compensation programs, including stock-based compensation. The Company's chief operating decision maker does not evaluate reportable segments using assets and capital expenditure information. Total revenues and property and equipment, net associated with business operations in the U.S. and all other countries in aggregate were as follows: June 30, 2019 2018 2017 Total Revenues Property and Equipment, Net Total Revenues Property and Equipment, Net Total Revenues Property and Equipment, Net (Dollars in thousands) U.S. $ 972,994 $ 75,789 $ 1,132,041 $ 95,956 $ 1,197,085 $ 119,649 Other countries 96,045 2,301 103,438 3,332 95,715 3,632 Total $ 1,069,039 $ 78,090 $ 1,235,479 $ 99,288 $ 1,292,800 $ 123,281