Carrols Restaurant Group, Inc. (TAST) Financial Statements (2024 and earlier)

Company Profile

Business Address 968 JAMES STREET
SYRACUSE, NY 13203
State of Incorp.
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
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments18,36429,15164,9642,30027,60027,600
Cash and cash equivalents18,36429,15164,9642,30027,60027,600
Receivables 14719,86213,44511,6939,420
Inventory, net of allowances, customer advances and progress billings14,41714,02311,59513,33410,3969,373
Inventory14,41714,02311,59513,33410,3969,373
Prepaid expense  1,5818,0461,9861,8805,134
Other undisclosed current assets35,49523,4467,4788,720(16,891)8,488
Total current assets:68,27668,348111,94539,78534,67860,015
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization 12,4296,1536441,882
Operating lease, right-of-use asset763,935791,763799,962811,016
Property, plant and equipment312,346337,702349,555385,578289,817274,098
Intangible assets, net (including goodwill)136,007155,239154,203155,30962,88359,984
Goodwill107,751124,451122,619122,61938,46936,792
Intangible assets, net (excluding goodwill)28,25630,78831,58432,69024,41423,192
Other noncurrent assets14,3507,2436,82310,8312,7931,880
Other undisclosed noncurrent assets300,375320,616333,953347,059210,080185,537
Total noncurrent assets:1,539,4421,618,7161,645,1401,711,675565,573521,499
TOTAL ASSETS:1,607,7181,687,0641,757,0851,751,460600,251581,514
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities98,96499,70885,44386,13467,59064,821
Interest and dividends payable9,4336569013,8183,672
Taxes payable8,2567,7748,1395,9105,269
Employee-related liabilities50,85549,41731,31428,71926,635
Accounts payable30,49131,16427,59645,78029,14329,245
Accrued liabilities68,473     
Debt7,3415,7945,5255,8661,9481,808
Other liabilities25,68718,43323,55816,52012,60112,900
Other undisclosed current liabilities47,40844,68841,81540,805  
Total current liabilities:179,400168,623156,341149,32582,13979,529
Noncurrent Liabilities
Long-term debt and lease obligation, including:479,756465,317475,695455,565276,823278,519
Long-term debt, excluding current maturities      
Capital lease obligations1,9933,873
Finance lease, liability9,7354,762383908
Other undisclosed long-term debt and lease obligation 470,021(342,404)(334,657)(353,635)274,830274,646
Liabilities, other than long-term debt797,72035,94142,35727,62244,48041,759
Deferred compensation liability, classified      
Deferred income tax liabilities7,6657,61711,3626,983
Liability, pension and other postretirement and postemployment benefits 1,3471,5521,5232,5554,3204,838
Off-market lease, unfavorable     12,34813,111
Other liabilities12,24326,77229,47218,08427,81223,810
Operating lease, liability776,465802,959809,969808,292
Self insurance reserve      
Other undisclosed noncurrent liabilities 802,959811,160809,48611,26912,647
Total noncurrent liabilities:1,277,4761,304,2171,329,2121,292,673332,572332,925
Total liabilities:1,456,8761,472,8401,485,5531,441,998414,711412,454
Equity
Equity, attributable to parent150,842214,224271,532309,462185,540169,060
Common stock530520515510357354
Treasury stock, value(14,130)(14,127)(14,070)(4,017)(141)(141)
Additional paid in capital292,708287,816306,469301,251150,459144,650
Accumulated other comprehensive income (loss)8,7021,411(3,015)622(646)(1,210)
Retained earnings (accumulated deficit)(136,968)(61,396)(18,367)11,09635,51125,407
Total equity:150,842214,224271,532309,462185,540169,060
TOTAL LIABILITIES AND EQUITY:1,607,7181,687,0641,757,0851,751,460600,251581,514

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

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues 1,652,3701,547,5021,462,7651,179,3071,088,532
Revenue, net1,179,3071,088,532
Cost of revenue(1,343,942)(1,251,892)(452,738)(431,969)(326,308)(304,593)
Cost of goods and services sold(534,238)(499,685)  (326,308)(304,593)
Gross profit:(1,343,942)400,4781,094,7641,030,796852,999783,939
Operating expenses(432,018)(411,337)(1,543,388)(1,471,508)(1,145,952)(1,059,059)
Other operating income, net9261,186    
Other undisclosed operating income (loss)1,729,514(1,186)452,738431,969326,308304,593
Operating income (loss):(45,520)(10,859)4,114(8,743)33,35529,473
Nonoperating income
(Investment Income, Nonoperating)
     230 
Interest and debt expense(30,841)(37,329)(27,283)(35,299)(23,638)(21,710)
Income (loss) from continuing operations before income taxes:(76,361)(48,188)(23,169)(44,042)9,9477,763
Income tax expense (benefit)7895,159(6,294)12,123157(604)
Income (loss) from continuing operations:(75,572)(43,029)(29,463)(31,919)10,1047,159
Income (loss) before gain (loss) on sale of properties:(43,029)(29,463)(31,919)10,1047,159
Net income (loss) attributable to parent:(75,572)(43,029)(29,463)(31,919)10,1047,159
Other undisclosed net loss available to common stockholders, basic      
Net income (loss) available to common stockholders, diluted:(75,572)(43,029)(29,463)(31,919)10,1047,159

Comprehensive Income ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income (loss):(75,572)(43,029)(29,463)(31,919)10,1047,159
Other comprehensive income (loss)   1,268564(7)
Other undisclosed comprehensive loss      
Comprehensive income (loss):(75,572)(43,029)(29,463)(30,651)10,6687,152
Other undisclosed comprehensive income (loss), net of tax, attributable to parent7,2914,426(5,284)   
Comprehensive income (loss), net of tax, attributable to parent:(68,281)(38,603)(34,747)(30,651)10,6687,152

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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