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)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments30,56946,18828,66823,91215,50228,973
Cash and cash equivalents30,56946,18828,66823,91215,50228,973
Restricted cash and investments26,56426,36825,37524,85323,39633,043
Receivables29,00626,92523,88042,13535,90418,204
Inventory, net of allowances, customer advances and progress billings6,2546,7706,925   
Inventory6,2546,7706,925   
Asset, held-for-sale, not part of disposal group3,8874,0334,7674,9945,2885,337
Other current assets8,0046,6396,08613,35712,67811,647
Total current assets:104,284116,92395,701109,25192,76897,204
Noncurrent Assets
Operating lease, right-of-use asset101,587100,782 95,16895,49796,813
Property, plant and equipment79,57777,85079,18984,92783,45581,399
Long-term investments and receivables    1,2721,8673,431
Accounts and financing receivable, after allowance for credit loss    1,2721,8673,431
Intangible assets, net (including goodwill)911,037914,829918,576936,836943,393944,231
Goodwill293,282293,282293,282293,811296,485295,343
Intangible assets, net (excluding goodwill)617,755621,547625,294643,025646,908648,888
Restricted cash and investments14,74314,73514,72013,33412,52618,525
Other noncurrent assets4,6134,4104,0033,4062,9863,205
Other undisclosed noncurrent assets   101,114   
Total noncurrent assets:1,111,5571,112,6061,117,6021,134,9431,139,7241,147,604
TOTAL ASSETS:1,215,8411,229,5291,213,3031,244,1941,232,4921,244,808
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities67,45967,79271,12886,94980,90878,760
Interest and dividends payable12,59411,72312,614
Accounts payable16,30320,06918,32820,95223,58423,495
Accrued liabilities51,15647,72352,80053,40345,60142,651
Deferred revenue1,8622,3452,0192,1722,2482,827
Debt35,84828,63149,6112,432903851
Other liabilities    2,8862,88710,390
Other undisclosed current liabilities146,251146,981144,262171,817169,241169,115
Total current liabilities:251,420245,749267,020266,256256,187261,943
Noncurrent Liabilities
Long-term debt and lease obligation1,018,4941,020,428958,6301,028,103999,281998,644
Long-term debt, excluding current maturities1,018,4941,020,428958,630938,142908,629907,068
Liabilities, other than long-term debt149,122157,197146,83136,30438,14735,327
Deferred revenue22,52920,82021,69820,67720,00818,755
Deferred income tax liabilities29,14728,29927,18113,68516,17716,210
Other liabilities1,63112,6762,3321,9421,962362
Operating lease, liability95,81595,40295,62089,96190,65291,576
Total noncurrent liabilities:1,167,6161,177,6251,105,4611,064,4071,037,4281,033,971
Total liabilities:1,419,0361,423,3741,372,4811,330,6631,293,6151,295,914
Equity
Equity, attributable to parent, including:(203,195)(193,845)(178,667)(86,469)(61,123)(51,106)
Accumulated deficit(217,884)(210,793)(178,667)(107,859)(84,422)(76,234)
Other undisclosed equity, attributable to parent14,68916,948 21,39023,29925,128
Other undisclosed equity   19,489   
Total equity:(203,195)(193,845)(159,178)(86,469)(61,123)(51,106)
TOTAL LIABILITIES AND EQUITY:1,215,8411,229,5291,213,3031,244,1941,232,4921,244,808

Income Statement (P&L) ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Revenues106,764105,691103,814103,222102,78597,403
Cost of revenue(62,942)(59,452)(47,857)(62,274)(57,010)(48,601)
Gross profit:43,82246,23955,95740,94845,77548,802
Operating expenses(25,357)(45,852)(88,562)(39,936)(32,572)(48,317)
Operating income (loss):18,465387(32,605)1,01213,203485
Nonoperating expense(24,210)(29,977)(24,182)(23,933)(21,642)(19,716)
Interest and debt expense(20,008)(25,090)(20,947)(19,504)(18,998)(19,027)
Loss from continuing operations before equity method investments, income taxes:(25,753)(54,680)(77,734)(42,425)(27,437)(38,258)
Other undisclosed income from continuing operations before income taxes20,00825,09020,94719,50418,99819,027
Loss from continuing operations before income taxes:(5,745)(29,590)(56,787)(22,921)(8,439)(19,231)
Income tax expense (benefit)(1,346)(2,536)(14,021)(516)251(4,524)
Loss from continuing operations:(7,091)(32,126)(70,808)(23,437)(8,188)(23,755)
Loss before gain (loss) on sale of properties:(23,437)(8,188)(23,755)
Net loss attributable to parent:(7,091)(32,126)(70,808)(23,437)(8,188)(23,755)
Preferred stock dividends and other adjustments(1,615)     
Net loss available to common stockholders, diluted:(8,706)(32,126)(70,808)(23,437)(8,188)(23,755)

Comprehensive Income ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Net loss:(7,091)(32,126)(70,808)(23,437)(8,188)(23,755)
Comprehensive loss, net of tax, attributable to parent:(7,091)(32,126)(70,808)(23,437)(8,188)(23,755)

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.

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