For the year ending 2025-12-31, BH had $238,061K increase in cash & cash equivalents over the period. $76,606K in free cash flow.
| Cash Flow | 2025-12-31 |
|---|---|
| Net earnings (loss) | -37,488 |
| Depreciation and amortization | 40,779 |
| Provision for deferred income taxes | 11,483 |
| Asset impairments and other non-cash expenses | 1,489 |
| Gains on sale of assets | 15,615 |
| Investment gains | 528 |
| Investment partnership (gains) losses | -67,001 |
| Distributions from investment partnerships | 56,000 |
| Changes in receivables and inventories | -3,460 |
| Changes in other assets | 6,814 |
| Changes in accounts payable and accrued expenses | 10,158 |
| Net cash provided by operating activities | 106,959 |
| Capital expenditures | 30,353 |
| Proceeds from property and equipment disposals | 20,979 |
| Purchases of noncontrolling interests | 0 |
| Purchases of interests in limited partnerships | 89,115 |
| Purchases of investments | 57,843 |
| Sales of investments and redemptions of fixed maturity securities | 90,862 |
| Net cash used in investing activities | -65,470 |
| Payments on line of credit | 73,000 |
| Proceeds from line of credit | 55,250 |
| Debt issuance costs | 1,867 |
| Payments on note payable | 1,125 |
| Proceeds from note payable, net | 223,000 |
| Principal payments on direct financing lease obligations | 5,725 |
| Net cash provided by (used in) financing activities | 196,533 |
| Effect of exchange rate changes on cash | 39 |
| Increase (decrease) in cash, cash equivalents, and restricted cash | 238,061 |
| Cash, cash equivalents, and restricted cash at beginning of period | 31,432 |
| Cash, cash equivalents, and restricted cash at end of period | 269,493 |
Biglari Holdings Inc. (BH)
Biglari Holdings Inc. (BH)