FAT · As filed with the SEC
Fat Brands balance sheet, by fiscal year
The statement as Fat Brands presents it in its 10-Q and 10-K: its own lines, labels and order. Tables over time lines up standardized figures across every filing.
CONSOLIDATED BALANCE SHEETS · USD thousands
| USD thousands | FY2024 Dec 29, 2024 | FY2023 Dec 31, 2023 | FY2022 Dec 25, 2022 | FY2021 Dec 26, 2021 | FY2020 Dec 27, 2020 | FY2019 Dec 29, 2019 | FY2018 Dec 30, 2018 | FY2017 Dec 31, 2017 |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Current assets | ||||||||
| Cash | 23,383 | 37,044 | 28,668 | 56,656 | 3,944 | 25 | 653 | 32 |
| Restricted cash | 25,239 | 39,271 | 25,375 | 24,740 | 2,867 | — | — | — |
| Accounts receivable, net | 19,422 | 21,146 | 23,880 | 19,555 | 4,208 | 4,144 | 1,779 | 918 |
| Trade notes receivable, net of allowance for doubtful accounts of $37 and $17, respectively | — | — | — | — | — | — | 65 | 77 |
| Accounts Receivable | — | — | — | — | — | 262 | — | — |
| Trade and other notes receivable, net of allowance for doubtful accounts of $129 and $103 as of December 26, 2021 and December 27, 2020, respectively | — | — | — | 231 | 208 | — | — | — |
| Inventory | 8,420 | 9,306 | 6,925 | — | — | — | — | — |
| Assets classified as held-for-sale | 370 | 3,756 | 4,767 | 5,476 | 10,831 | 5,128 | — | — |
| Other current assets | 11,200 | 10,486 | 6,086 | 11,853 | 2,365 | 929 | 1,042 | 153 |
| Total current assets | 88,034 | 121,009 | 95,701 | 118,511 | 24,423 | 10,488 | 3,539 | 1,180 |
| Notes receivable - noncurrent, net of allowance for doubtful accounts of $112 and $17, respectively | — | — | — | — | — | — | 212 | 346 |
| Non-current restricted cash | 18,767 | 15,588 | 14,720 | 18,525 | 400 | — | — | — |
| Notes receivable - noncurrent, net of allowance for doubtful accounts of $271 and $112, as of December 27, 2020 and December 29, 2019, respectively | — | — | — | — | 1,622 | 1,802 | — | — |
| Due from affiliates | — | — | — | — | — | 25,967 | 15,514 | 7,963 |
| Deferred Tax Assets, Non-Current | — | — | — | — | — | 2,032 | 2,236 | 937 |
| Notes receivable – noncurrent, net of allowance for doubtful accounts of $271, as of December 26, 2021 and December 27, 2020 | — | — | — | 3,493 | — | — | — | — |
| Deferred income tax asset, net | — | — | — | 0 | 30,551 | — | — | — |
| Operating lease right of use assets | — | — | — | 98,552 | 4,469 | 860 | — | — |
| Operating lease right-of-use assets | 198,091 | 220,035 | 101,114 | — | — | — | — | — |
| Goodwill | 285,337 | 305,089 | 293,282 | 295,128 | 10,909 | 10,912 | 10,391 | 7,356 |
| Other intangible assets, net | 595,689 | 620,622 | 625,294 | 652,788 | 47,711 | 29,734 | 23,289 | 11,011 |
| Property and equipment, net | 97,390 | 100,524 | 79,189 | 80,501 | — | — | — | — |
| Other assets | 5,870 | 5,371 | 4,003 | 2,534 | 1,059 | 755 | 2,779 | 7 |
| Buffalo’s creative and advertising fund | — | — | — | — | — | — | — | 436 |
| Total assets | 1,289,178 | 1,388,238 | 1,213,303 | 1,270,032 | 121,144 | 82,550 | 57,960 | 29,236 |
| Liabilities and Stockholders’ Deficit | ||||||||
| Liabilities | ||||||||
| Current liabilities | ||||||||
| Accounts payable | 38,725 | 21,809 | 18,328 | 27,527 | 8,625 | 7,183 | 4,415 | 2,439 |
| Deferred Tax Liabilities, Current | — | — | — | — | — | — | 1,076 | 1,772 |
| Accrued expenses and other liabilities | 68,084 | 58,903 | 52,800 | 46,295 | 19,833 | 6,013 | 3,705 | 1,761 |
| Deferred income, current portion | 2,275 | 2,490 | 2,019 | 2,636 | 1,887 | 895 | — | — |
| Accrued advertising | 5,307 | 7,992 | 14,819 | 10,853 | 2,160 | 762 | 369 | 348 |
| Accrued interest payable | 24,837 | 24,961 | 13,241 | 10,678 | 1,847 | 1,268 | 2,250 | 405 |
| Dividend payable on preferred shares (includes amounts due to related parties of $0 and $149 as of December 27, 2020 and December 29, 2019, respectively); | — | — | — | — | 893 | 1,422 | 391 | — |
| Short-Term Debt | — | — | — | — | — | — | 15,400 | — |
| Dividend payable on preferred shares | — | 1,325 | 1,467 | 1,574 | — | — | — | — |
| Dividend payable on preferred shares | 1,389 | — | — | — | — | — | — | — |
| Liabilities related to assets classified as held- for-sale | 393 | 3,421 | 4,084 | 4,780 | 9,892 | 3,325 | — | — |
| Operating lease liability, current portion | 16,229 | 17,254 | 14,815 | 14,341 | 748 | 241 | — | — |
| Current portion of preferred shares, net | — | — | — | — | 7,961 | — | — | — |
| Redeemable preferred stock | 91,836 | 91,836 | 91,836 | 67,500 | — | — | — | — |
| Long-term debt, current portion | 49,241 | 42,611 | 49,611 | 631 | 19,314 | 24,502 | — | — |
| Acquisition purchase price payable | 0 | 4,000 | 4,000 | 1,173 | — | — | — | — |
| Other current liabilities | — | — | 0 | 10,500 | 17 | — | — | — |
| Total current liabilities | 298,316 | 276,602 | 267,020 | 198,488 | 73,177 | 45,611 | 27,606 | 6,725 |
| Deferred Tax Liabilities, Non-Current | — | — | — | — | — | — | 6,621 | 1,941 |
| Deferred income, net of current portion | 20,347 | 21,958 | 21,698 | 17,662 | 9,099 | 5,247 | — | — |
| Acquisition purchase price payable | — | — | — | — | 2,806 | 4,504 | 3,497 | — |
| Mandatorily redeemable preferred shares, net | — | — | — | — | — | — | 14,191 | — |
| Preferred shares, net | — | — | — | — | — | 15,327 | — | — |
| Deferred dividend payable on preferred shares (includes amounts due to related parties of $0 and $99 as of December 27, 2020 and December 29, 2019, respectively) | — | — | — | — | — | 628 | 228 | — |
| Long-Term Debt | — | — | — | — | — | — | — | 18,125 |
| Buffalo’s creative and advertising fund-contra | — | — | — | — | — | — | — | 436 |
| Acquisition purchase price payable | — | — | — | 0 | — | — | — | — |
| Deferred income tax liabilities, net | 13,772 | 18,805 | 27,181 | 12,921 | — | — | — | — |
| Operating lease liability, net of current portion | 200,132 | 211,744 | 95,620 | 92,920 | 4,011 | 639 | — | — |
| Long-term debt, net of current portion | 1,208,997 | 1,110,308 | 958,630 | 904,265 | 73,852 | 5,216 | — | — |
| Other Non-Operating Current Liabilities | — | — | — | — | — | — | 78 | — |
| Other liabilities | 3,326 | 4,684 | 2,332 | 976 | 82 | — | — | — |
| Total liabilities | 1,744,890 | 1,644,101 | 1,372,481 | 1,227,232 | 163,027 | 77,172 | 52,221 | 27,227 |
| Redeemable preferred stock | — | — | 0 | 64,455 | — | — | — | — |
| Stockholders’ deficit | ||||||||
| Total Stockholders' Equity | — | — | — | — | — | 11,414 | 10,757 | 2,622 |
| Preferred Stock | — | — | — | — | 21,788 | — | — | — |
| Common stock, $.0001 par value; 25,000,000 shares authorized; 11,926,264 and 11,860,299 shares issued and outstanding at December 27, 2020 and December 29, 2019, respectively | — | — | — | — | (42,775) | — | — | — |
| Preferred stock: $0.0001 par value; 15,000,000 shares authorized; 3,591,706 shares issued and outstanding at December 29, 2024 and 3,591,804 shares issued and outstanding at December 31, 2023; liquidation preference $25 per share | 40,837 | 44,103 | 45,504 | 55,661 | — | — | — | — |
| Class A and Class B common stock and additional paid-in capital as of December 25, 2022: $0.0001 par value per share; 51,600,000 shares authorized (Class A 50,000,000, Class B 1,600,000); 16,571,675 shares issued and outstanding (Class A 15,300,870, Class B 1,270,805). Common stock and additional paid-in capital as of December 26, 2021: $0.0001 par value; 51,600,000 shares authorized (Class A 50,000,000, Class B 1,600,000); 16,380,552 shares issued and outstanding (Class A 15,109,747, Class B 1,270,805) | — | — | (26,015) | (24,837) | — | — | — | — |
| Class A and Class B common stock and additional paid-in capital as of December 31, 2023: $0.0001 par value per share; 51,600,000 shares authorized (Class A 50,000,000, Class B 1,600,000); 16,900,099 shares issued and outstanding (Class A 15,629,294, Class B 1,270,805). Common stock and additional paid-in capital as of December 25, 2022: $0.0001 par value; 51,600,000 shares authorized (Class A 50,000,000, Class B 1,600,000); 16,571,675 shares issued and outstanding (Class A 15,300,870, Class B 1,270,805) | — | (31,189) | — | — | — | — | — | — |
| Class A and Class B common stock and additional paid-in capital as of December 29, 2024: $0.0001 par value per share; 51,600,000 shares authorized (Class A 50,000,000, Class B 1,600,000); 17,254,683 shares issued and outstanding (Class A 15,983,878, Class B 1,270,805). Common stock and additional paid-in capital as of December 31, 2023: $0.0001 par value; 51,600,000 shares authorized (Class A 50,000,000, Class B 1,600,000); 16,900,099 shares issued and outstanding (Class A 15,629,294, Class B 1,270,805) | (37,925) | — | — | — | — | — | — | — |
| Accumulated deficit | (458,624) | (268,777) | (178,667) | (52,479) | (20,896) | (6,036) | (5,018) | (613) |
| Total stockholders’ deficit | — | — | (159,178) | (21,655) | — | — | — | — |
| Total stockholders’ deficit | (455,712) | (255,863) | — | — | (41,883) | 5,378 | 5,739 | 2,009 |
| Total liabilities and stockholders’ deficit | 1,289,178 | 1,388,238 | 1,213,303 | 1,270,032 | 121,144 | 82,550 | 57,960 | 29,236 |
As filed on EDGAR · Not affiliated with the U.S. SEC · Not investment advice. Each column links to its filing.