XML 13 R2.htm IDEA: XBRL DOCUMENT v3.21.2
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 26, 2021
Dec. 27, 2020
Current assets    
Cash $ 23,565 $ 3,944
Restricted cash 13,557 2,867
Accounts receivable, net of allowance for doubtful accounts of $2,208 and $739, as of September 26, 2021 and December 27, 2020, respectively 14,255 4,208
Trade and other notes receivable, net of allowance for doubtful accounts of $103 as of September 26, 2021 and December 27, 2020 224 208
Assets classified as held for sale 5,591 10,831
Other current assets 6,290 2,365
Total current assets 63,482 24,423
Noncurrent restricted cash 6,406 400
Notes receivable – noncurrent, net of allowance for doubtful accounts of $271, as of September 26, 2021 and December 27, 2020 2,054 1,622
Deferred income tax asset, net 15,069 30,551
Operating lease right of use assets 12,604 4,469
Goodwill 185,861 10,909
Other intangible assets, net 322,688 47,711
Property and equipment, net 10,227 483
Other assets 1,417 576
Total assets 619,808 121,144
Current liabilities    
Accounts payable 12,859 8,625
Accrued expenses and other liabilities 25,646 19,833
Deferred income, current portion 1,746 1,887
Accrued advertising 6,012 2,160
Accrued interest payable 5,644 1,847
Dividend payable on preferred shares 16 893
Liabilities related to assets classified as held for sale 4,906 9,892
Current portion of operating lease liability 4,784 748
Current portion of preferred shares, net 0 7,961
Current portion of long-term debt 605 19,314
Other 0 17
Total current liabilities 62,218 73,177
Deferred income – noncurrent 11,354 9,099
Acquisition purchase price payable 800 2,806
Operating lease liability, net of current portion 10,858 4,011
Long-term debt, net of current portion 485,470 73,852
Other liabilities 1,117 82
Total liabilities 571,817 163,027
Commitments and contingencies (Note 19)
Redeemable preferred stock 66,810 0
Stockholders’ deficit    
Preferred stock, $0.0001 par value; 15,000,000 and 5,000,000 shares authorized; 1,643,272 and 1,183,272 shares issued and outstanding at September 26, 2021 and December 27, 2020, respectively; liquidation preference $25 per share 37,908 21,788
Class A and Class B common stock and additional paid-in capital as of September 26, 2021: $0.0001 par value per share: 51,600,000 shares authorized (Class A 50,000,000, Class B 1,600,000); 16,283,684 shares issued and outstanding (Class A 15,013,001, Class B 1,270,683). Common stock and additional paid-in capital as of December 27, 2020: $0.0001 par value; 25,000,000 shares authorized; 11,926,264 shares issued and outstanding. (23,931) (42,775)
Accumulated deficit (32,875) (20,896)
Stockholders’ deficit attributable to FAT Brands Inc. (18,898) (41,883)
Noncontrolling interests 79 0
Total stockholders’ deficit (18,819) (41,883)
Total liabilities and stockholders’ deficit $ 619,808 $ 121,144