FAT · As filed with the SEC
Fat Brands cash flow statement, 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 STATEMENTS OF CASH FLOWS · USD thousands
| USD thousands | FY2024 Year ended Dec 29, 2024 | FY2023 Year ended Dec 31, 2023 | FY2022 Year ended Dec 25, 2022 | FY2021 Year ended Dec 26, 2021 | FY2020 Year ended Dec 27, 2020 |
|---|---|---|---|---|---|
| Cash flows from operating activities | |||||
| Net loss | (189,847) | (90,110) | (126,188) | — | — |
| Adjustments to reconcile net loss to net cash used in operations: | |||||
| Deferred income taxes | (5,032) | (8,376) | 17,463 | (5,337) | (4,077) |
| Net loss on extinguishment of debt | — | — | 0 | 6,087 | 88 |
| Net loss on extinguishment of debt | 1,798 | 2,397 | — | — | — |
| Depreciation and amortization | 41,528 | 31,131 | 27,015 | 8,568 | 1,172 |
| Share-based compensation | 2,330 | 3,615 | 7,619 | 1,642 | 99 |
| Change in operating right-of-use assets | 8,781 | 55 | 7,021 | 3,851 | 1,255 |
| Accretion of loan fees and interest | 22,647 | 13,538 | 10,771 | 2,787 | 973 |
| Accretion of preferred shares | — | — | — | 26 | 62 |
| Adjustments to purchase price liability | — | 0 | (1,140) | 95 | 481 |
| Gain on sale of refranchised assets | — | 0 | 0 | (2,681) | 55 |
| Change in fair value of derivative liability | — | — | — | 0 | (887) |
| Impairment of goodwill and other intangible assets | — | — | — | 1,037 | 9,295 |
| Impairment of goodwill and other intangible assets | 30,600 | 500 | 14,000 | — | — |
| Provision (recovery) for bad debts | 1,029 | (9,827) | 20,720 | 1,843 | 981 |
| Gain on adjustment of contingent consideration payable | — | — | — | 0 | (1,680) |
| Other | — | 0 | (500) | 181 | 0 |
| Loss on disposal of PP&E | 418 | — | — | — | — |
| Change in: | |||||
| Accounts receivable | 696 | 12,571 | (24,516) | (4,705) | 554 |
| Accrued interest receivable from affiliate | — | — | — | 0 | (3,631) |
| Other current assets | — | — | 29 | (1,533) | (992) |
| Inventory | 886 | (2,381) | — | — | — |
| Other current and noncurrent assets | (1,547) | (6,129) | — | — | — |
| Accounts payable | 16,916 | 3,481 | (9,199) | 5,374 | (9) |
| Accrued expense and other liabilities | — | — | 6,501 | 3,002 | (1,678) |
| Accrued expense and other liabilities | 9,171 | 6,101 | — | — | — |
| Deferred income | (1,826) | 732 | 3,419 | 768 | (144) |
| Accrued advertising | (2,685) | (6,828) | 3,966 | 1,894 | 1,398 |
| Accrued interest payable | 8,785 | 11,720 | 2,563 | 8,831 | 585 |
| Dividend payable on preferred shares | 63 | (142) | (107) | 1,188 | (531) |
| Other | — | — | — | (653) | 7 |
| Other current and noncurrent liabilities | (957) | 2,344 | (6,836) | — | — |
| Total adjustments | 133,601 | 54,502 | 78,789 | 32,265 | 3,376 |
| Net cash used in operating activities | (56,246) | (35,608) | (47,399) | 682 | (11,484) |
| Cash flows from investing activities | |||||
| Change in due from affiliates | — | — | — | — | (13,359) |
| Acquisitions, net of cash acquired | — | (38,597) | (1,022) | (721,382) | (23,918) |
| Acquisition of intangible assets | 0 | (2,607) | (1,750) | — | — |
| Payments received on notes receivable | 334 | 295 | 1,762 | 212 | 69 |
| Net proceeds from sale of refranchised restaurants | — | — | 0 | 2,692 | 1,093 |
| Proceeds from sale of property and equipment | — | 0 | 9,934 | 4,233 | 0 |
| Purchases of property and equipment | (22,801) | (18,896) | (21,421) | (10,422) | (460) |
| Purchase deposits received on refranchised restaurants | — | — | 0 | 1,500 | 0 |
| Other | — | — | 0 | (33) | 0 |
| Payment of acquisition purchase price payable | (4,000) | — | — | — | — |
| Net cash used in investing activities | (26,467) | (59,805) | (12,497) | (723,200) | (36,575) |
| Cash flows from financing activities | |||||
| Proceeds from borrowings, net of issuance costs | 530,864 | 183,112 | 55,220 | 897,215 | 74,294 |
| Repayments of borrowings | (460,333) | (54,369) | (4,874) | (93,279) | (24,295) |
| Issuance of preferred shares, net | — | — | 0 | 26,732 | 8,122 |
| Change in operating lease liabilities | — | 0 | (5,699) | (3,595) | (816) |
| Payments made on acquisition purchase price liability | — | — | 0 | (1,075) | (500) |
| Exercise of warrants | — | — | 694 | 2,567 | 0 |
| Repurchase of warrants | — | — | — | 0 | (742) |
| Redemption of preferred stock | — | — | — | 0 | (500) |
| Proceeds from issuance of common and preferred shares | 4,996 | 6,157 | — | — | — |
| Dividends paid on redeemable preferred stock | — | 0 | (1,062) | (2,283) | 0 |
| Dividends paid on common shares | (9,549) | (9,340) | (8,905) | (7,468) | 0 |
| Dividends paid on preferred shares | (7,779) | (7,007) | (6,636) | (3,559) | (318) |
| Other | — | — | 0 | (27) | 0 |
| Net cash provided by financing activities | 58,199 | 118,553 | 28,738 | 815,228 | 55,245 |
| Net increase (decrease) in cash and restricted cash | (24,514) | 23,140 | (31,158) | 92,710 | 7,186 |
| Cash and restricted cash at beginning of the period | 91,903 | 68,763 | 99,921 | 7,211 | 25 |
| Cash and restricted cash at end of the period | 67,389 | 91,903 | 68,763 | 99,921 | 7,211 |
| Supplemental disclosures of cash flow information: | |||||
| Cash paid for interest | 119,674 | 109,388 | 66,851 | 14,978 | 6,403 |
| Cash paid for income taxes | 1,885 | 1,752 | 1,029 | 842 | 167 |
| Director fees converted to common stock | — | 0 | 30 | 15 | 240 |
| Issuance of preferred stock in lieu of cash preferred dividends payable | — | — | 0 | 1,564 | 450 |
| Income taxes receivable included in amounts due from affiliates | — | — | — | 0 | (158) |
| Net loss | — | — | — | (31,583) | (14,860) |
As filed on EDGAR · Not affiliated with the U.S. SEC · Not investment advice. Each column links to its filing.