Equity Method Investment

12 Months Ended

Dec. 31, 2023

Equity Method Investments and Joint Ventures [Abstract]

Equity Method Investment

(7)Equity Method Investment

On April 1, 2016, GEN Hawaii made an investment of $200 thousand for a 50% interest in GKBH Restaurant LLC (“GKBH”), which operates a GEN restaurant in Hawaii. The Company does not control major operational and financial decisions, which require consent from the other owner. During the year ended December 31, 2023 and 2022, the Company received distributions of $625 thousand and $537 thousand, respectively, from GKBH.

A summary of the GKBH financial position for the years ended December 31, 2023 and December 31, 2022 and results of operations as of December 31, 2023, and December 31, 2022 is as follows (unaudited):

(in thousands)	December 31, 2023		December 31, 2022
Current assets		808		846
Noncurrent assets		2,290		892
Current liabilities		972		367
Noncurrent liabilities		1,064		130

	For the year ended
(in thousands)	December 31, 2023		December 31, 2022
Net sales or gross revenue		7,412		7,316
Operating income		4,967		4,925
Net income		1,071		1,932
Net income attributable to the entity		535		966