XML 22 R33.htm IDEA: XBRL DOCUMENT

Note 22. Quarterly Financial Data (Unaudited)

12 Months Ended

Sep. 24, 2014

Quarterly Financial Information Disclosure [Abstract]

Note 22. Quarterly Financial Data (Unaudited)

		1^stQuarter	2^ndQuarter	3^rdQuarter⁽³⁾	4^thQuarter⁽³⁾
For the year ended September 24, 2014 (52 weeks) ⁽¹⁾
Total revenues ............................................................................		$ 172,339	$ 234,574	$ 193,229	$ 193,669
Gross profit (2) ............................................................................		38,377	52,191	39,724	37,359
Costs and expenses ....................................................................		167,843	224,753	190,429	196,512
Earnings before income taxes ...................................................		24,864	(12,263)	13,367	13,048
Net earnings attributable to Biglari Holdings Inc. (5)................		16,491	(5,803)	9,594	8,522
Basic earnings per common share (4) ......................................		$ 9.62	$ (3.39)	$ 5.67	$ 4.96
Diluted earnings per common share (4) ..................................		$ 9.60	$ (3.39)	$ 5.66	$ 4.95

For the year ended September 25, 2013 (52 weeks) ⁽¹⁾
Total revenues ..............................................................................		$ 166,511	$ 225,210	$ 184,602	$ 179,499
Gross profit (2) ............................................................................		37,613	50,189	43,476	41,541
Costs and expenses .......................................................................		159,181	220,606	178,137	177,164
Earnings before income taxes ........................................................		5,930	1,420	169,834	39,277
Net earnings attributable to Biglari Holdings Inc. (5) ...................		4,562	2,180	106,704	26,825
Basic earnings per common share (4) ...........................................		$ 2.94	$ 1.41	$ 69.08	$ 17.46
Diluted earnings per common share (4) ........................................		$ 2.94	$ 1.40	$ 68.92	$ 17.43
(1)	Our fiscal year includes quarters consisting of 12, 16, 12 and 12 weeks, respectively.
(2)	We define gross profit as net revenue less restaurant cost of sales, media cost of sales, and insurance losses and underwriting expenses, which excludes depreciation and amortization.
(3)	We recorded pre-tax gain on contribution to investment partnerships of $29,524 during the third quarter of 2014, $162,869 during the third quarter of 2013 and $19,877 during the fourth quarter of 2013.
(4)	Earnings per share of common stock is based on the weighted average number of shares outstanding during the year. In fiscal year 2014 and 2013 the Company completed rights offerings in which 344,261 and 286,767 new shares of common stock were issued, respectively. Earnings per share have been retroactively restated to give effect to the rights offerings.
(5)	Net earnings attributable to Biglari Holdings Inc. includes investment partnership gains of $14,055 ($12,316 net of tax) in 2014 and $20,068 ($13,296 net of tax) in 2013.

- Definition

The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished.

+ References+ Details