Biglari Holdings Inc. (BH-A)
Biglari Holdings Inc. (BH-A)
| Cash Flow | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 |
|---|---|---|---|---|
| Net earnings (loss) | -14,531 | -37,488 | - | - |
| Net earnings | - | - | -5,291 | 17,656 |
| Depreciation and amortization | 10,657 | 10,705 | 9,545 | 20,529 |
| Provision for deferred income taxes | -3,501 | 10,066 | 12,671 | -11,254 |
| Asset impairments | - | - | 0 | 1,251 |
| Asset impairments and other non-cash expenses | 274 | 1,489 | - | - |
| (gains) losses on sale of assets | -194 | 1,565 | 3,018 | 11,032 |
| Investment gains | - | 528 | - | - |
| Investment and investment partnerships (gains) losses | -14,741 | -62,847 | -14,406 | 10,252 |
| Changes in receivables, inventories and other assets | - | - | 3,130 | -559 |
| Distributions from investment partnerships | 13,020 | 2,000 | 19,000 | 35,000 |
| Changes in receivables and inventories | 2,477 | -3,460 | - | - |
| Changes in other assets | - | 6,814 | - | - |
| Changes in accounts payable and accrued expenses | -5,047 | 4,776 | 12,405 | -7,023 |
| Net cash provided by operating activities | 20,332 | 17,771 | 31,246 | 57,942 |
| Capital expenditures | 6,967 | 11,403 | 8,946 | 10,004 |
| Proceeds from property and equipment disposals | 138 | 3,011 | 5,491 | 12,477 |
| Purchases of noncontrolling interests | - | 0 | - | - |
| Purchases of interests in limited partnerships | 42,130 | 44,150 | 14,900 | 30,065 |
| Purchases of investments | 53,414 | 9,468 | 16,896 | 31,479 |
| Sales of investments and redemptions of fixed maturity securities | 7,230 | 32,740 | 26,212 | 31,910 |
| Net cash used in investing activities | -95,143 | -29,270 | -9,039 | -27,161 |
| Payments on line of credit | 6,000 | 0 | 20,000 | 53,000 |
| Proceeds from line of credit | 1,250 | 12,250 | 16,000 | 27,000 |
| Debt issuance costs | 54 | 1,867 | - | - |
| Payments on note payable | 2,250 | 1,125 | - | - |
| Proceeds from note payable, net | - | 0 | 223,000 | - |
| Proceeds from issuance of common stock | 14,920 | - | - | - |
| Principal payments on direct financing lease obligations | 1,809 | 1,447 | 1,500 | 2,778 |
| Net cash provided by financing activities | 6,057 | 7,811 | 217,500 | -28,778 |
| Effects of foreign currency exchange rate changes | 47 | -15 | 12 | 42 |
| Increase (decrease) in cash, cash equivalents and restricted cash | -68,707 | -3,703 | 239,719 | 2,045 |
| Cash, cash equivalents and restricted cash at beginning of year | 269,493 | 273,196 | 31,432 | - |
| Cash, cash equivalents and restricted cash at end of first quarter | 200,786 | 269,493 | 273,196 | - |