FAT Brands Inc. (FAT) Financial Statements (2024 and earlier)
Company Profile
| Business Address |
9720 WILSHIRE BLVD., BEVERLY HILLS, CA 90212 |
| State of Incorp. | DE |
| Fiscal Year End | December 31 |
| Industry (SIC) | 5812 - Eating Places (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 3/31/2024 MRQ | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 37,044 | 28,668 | 56,656 | 3,944 | 25 | 653 | |||
| Cash and cash equivalents | 37,044 | 28,668 | 56,656 | 3,944 | 25 | 653 | |||
| Restricted cash and investments | 39,271 | 25,375 | 24,740 | 2,867 | |||||
| Receivables | 21,146 | 23,880 | 19,786 | 4,416 | 262 | 1,779 | |||
| Inventory, net of allowances, customer advances and progress billings | 9,306 | 6,925 | |||||||
| Inventory | 9,306 | 6,925 | |||||||
| Asset, held-for-sale, not part of disposal group | 3,756 | 4,767 | 5,476 | 10,831 | 5,128 | ||||
| Other current assets | 10,486 | 6,086 | 11,853 | 2,365 | 929 | 1,042 | |||
| Other undisclosed current assets | 4,144 | 65 | |||||||
| Total current assets: | 121,009 | 95,701 | 118,511 | 24,423 | 10,488 | 3,539 | |||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 98,552 | 4,469 | 860 | ✕ | |||||
| Property, plant and equipment | 100,524 | 79,189 | 80,501 | ||||||
| Long-term investments and receivables | 3,493 | (271) | (86) | (112) | |||||
| Accounts and financing receivable, after allowance for credit loss | 3,493 | (271) | (86) | (112) | |||||
| Intangible assets, net (including goodwill) | 925,711 | 918,576 | 947,916 | 58,620 | 40,646 | 33,680 | |||
| Goodwill | 305,089 | 293,282 | 295,128 | 10,909 | 10,912 | 10,391 | |||
| Intangible assets, net (excluding goodwill) | 620,622 | 625,294 | 652,788 | 47,711 | 29,734 | 23,289 | |||
| Restricted cash and investments | 15,588 | 14,720 | 18,525 | 400 | |||||
| Deferred income tax assets | 30,551 | ✕ | |||||||
| Other noncurrent assets | 5,371 | 4,003 | 2,534 | 1,059 | 755 | 2,779 | |||
| Deferred tax assets, net | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 2,236 | ||
| Other undisclosed noncurrent assets | 220,035 | 101,114 | 1,893 | 29,887 | 15,838 | ||||
| Total noncurrent assets: | 1,267,229 | 1,117,602 | 1,151,521 | 96,721 | 72,062 | 54,421 | |||
| TOTAL ASSETS: | 1,388,238 | 1,213,303 | 1,270,032 | 121,144 | 82,550 | 57,960 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 80,712 | 71,128 | 84,500 | 30,305 | 14,464 | 10,370 | |||
| Interest and dividends payable | ✕ | ✕ | ✕ | 10,678 | 1,847 | 1,268 | 2,250 | ||
| Accounts payable | 21,809 | 18,328 | 27,527 | 8,625 | 7,183 | 4,415 | |||
| Accrued liabilities | 58,903 | 52,800 | 46,295 | 19,833 | 6,013 | 3,705 | |||
| Deferred revenue | 2,490 | 2,019 | 2,636 | 1,887 | 895 | ✕ | |||
| Debt | 42,611 | 49,611 | 631 | 19,314 | 24,743 | 15,400 | |||
| Other liabilities | 10,500 | 17 | |||||||
| Deferred tax liabilities | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 1,076 | ||
| Other undisclosed current liabilities | 150,789 | 144,262 | 100,221 | 21,654 | 5,509 | 760 | |||
| Total current liabilities: | 276,602 | 267,020 | 198,488 | 73,177 | 45,611 | 27,606 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 1,110,308 | 958,630 | 997,185 | 77,863 | 5,855 | ||||
| Long-term debt, excluding current maturities | 1,110,308 | 958,630 | 904,265 | 73,852 | 5,216 | ||||
| Liabilities, other than long-term debt | 257,191 | 146,831 | 31,559 | 9,181 | 5,247 | 6,621 | |||
| Deferred revenue | 21,958 | 21,698 | 17,662 | 9,099 | 5,247 | ✕ | |||
| Deferred tax liabilities, net | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 6,621 | ||
| Deferred income tax liabilities | 18,805 | 27,181 | 12,921 | ✕ | |||||
| Other liabilities | 4,684 | 2,332 | 976 | 82 | |||||
| Operating lease, liability | 211,744 | 95,620 | 92,920 | 4,011 | 639 | ✕ | |||
| Other undisclosed noncurrent liabilities | 2,806 | 20,459 | 17,994 | ||||||
| Total noncurrent liabilities: | 1,367,499 | 1,105,461 | 1,028,744 | 89,850 | 31,561 | 24,615 | |||
| Total liabilities: | 1,644,101 | 1,372,481 | 1,227,232 | 163,027 | 77,172 | 52,221 | |||
| Temporary equity, carrying amount | 64,455 | ||||||||
| Equity | |||||||||
| Equity, attributable to parent, including: | (255,863) | (178,667) | (52,479) | (41,883) | 5,378 | 5,739 | |||
| Preferred stock | 21,788 | ||||||||
| Common stock | 11,414 | 10,757 | |||||||
| Accumulated deficit | (268,777) | (178,667) | (52,479) | (20,896) | (6,036) | (5,018) | |||
| Other undisclosed equity, attributable to parent | 12,914 | (42,775) | |||||||
| Other undisclosed equity | 19,489 | 30,824 | |||||||
| Total equity: | (255,863) | (159,178) | (21,655) | (41,883) | 5,378 | 5,739 | |||
| TOTAL LIABILITIES AND EQUITY: | 1,388,238 | 1,213,303 | 1,270,032 | 121,144 | 82,550 | 57,960 | |||
Income Statement (P&L) ($ in thousands)
| 3/31/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 480,457 | 407,224 | 118,881 | 18,118 | 22,505 | 18,367 | ||
| Cost of revenue | (295,087) | (204,585) | (36,826) | (1,619) | (1,229) | |||
| Cost of goods and services sold | (282,887) | |||||||
| Gross profit: | 185,370 | 202,639 | 82,055 | 16,499 | 21,276 | 18,367 | ||
| Operating expenses | (163,040) | (220,543) | (81,231) | (31,597) | (14,573) | (14,131) | ||
| Operating income (loss): | 22,330 | (17,904) | 824 | (15,098) | 6,703 | 4,236 | ||
| Nonoperating expense | (118,695) | (89,474) | (35,944) | (3,451) | (7,211) | (6,309) | ||
| Other nonoperating income (expense) | 1,233 | 5,375 | 750 | (1,011) | (681) | (1,181) | ||
| Interest and debt expense | (2,397) | (78,477) | (7,637) | (88) | (4,757) | (3,816) | ||
| Loss from continuing operations before equity method investments, income taxes: | (98,762) | (185,855) | (42,757) | (18,637) | (5,265) | (5,889) | ||
| Other undisclosed income from continuing operations before income taxes | 2,397 | 78,477 | 7,637 | 88 | 4,757 | 3,816 | ||
| Loss from continuing operations before income taxes: | (96,365) | (107,378) | (35,120) | (18,549) | (508) | (2,073) | ||
| Income tax expense (benefit) | 6,255 | (18,810) | 3,537 | 3,689 | (510) | 275 | ||
| Loss from continuing operations: | (90,110) | (126,188) | (31,583) | (14,860) | (1,018) | (1,798) | ||
| Loss before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | (31,583) | (14,860) | (1,018) | (1,798) | |
| Net loss attributable to parent: | (90,110) | (126,188) | (31,583) | (14,860) | (1,018) | (1,798) | ||
| Preferred stock dividends and other adjustments | (7,007) | |||||||
| Net loss available to common stockholders, diluted: | (97,117) | (126,188) | (31,583) | (14,860) | (1,018) | (1,798) | ||
Comprehensive Income ($ in thousands)
| 3/31/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Net loss: | (90,110) | (126,188) | (31,583) | (14,860) | (1,018) | (1,798) | ||
| Comprehensive loss, net of tax, attributable to parent: | (90,110) | (126,188) | (31,583) | (14,860) | (1,018) | (1,798) | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.