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CONSOLIDATED STATEMENTS OF EARNINGS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenues        
Total revenues $ 100,619 $ 91,141 $ 195,654 $ 180,592
Costs and expenses        
Restaurant cost of sales 40,039 36,886 77,797 71,307
Insurance losses and underwriting expenses 15,932 15,745 32,984 30,808
Oil and gas production costs 2,880 4,282 6,926 8,781
Licensing and media costs 2,421 523 4,072 1,026
Selling, general and administrative 22,853 18,653 44,220 36,928
Gain on sale of oil and gas properties (794) (16,165) (10,117) (16,646)
Impairments 1,251 1,000 1,251 1,107
Depreciation, depletion, and amortization 10,272 9,122 20,529 19,175
Interest expense on leases 1,240 1,349 2,573 2,663
Interest expense on borrowings 852 42 1,752 42
Total costs and expenses 96,946 71,437 181,987 155,191
Other income        
Investment gains (losses) 2,925 (2,729) 1,340 (1,016)
Investment partnership gains (losses) 58,504 (79,890) 8,912 (57,905)
Total other income (expenses) 61,429 (82,619) 10,252 (58,921)
Earnings (loss) before income taxes 65,102 (62,915) 23,919 (33,520)
Income tax expense (benefit) 14,171 (14,725) 6,263 (7,909)
Net earnings (loss) 50,931 (48,190) 17,656 (25,611)
Restaurant operations        
Revenues        
Total revenues 72,011 64,475 136,360 126,471
Insurance premiums and other        
Revenues        
Total revenues 18,823 17,694 38,172 35,427
Oil and gas        
Revenues        
Total revenues 7,498 8,671 17,428 18,181
Licensing and media        
Revenues        
Total revenues $ 2,287 $ 301 $ 3,694 $ 513
Common Class A        
Other income        
Net earnings (loss) per average equivalent Class A share, basic (in dollars per share) [1] $ 194.57 $ (171.89) $ 67.26 $ (90.80)
Net earnings (loss) per average equivalent Class A share, diluted (in dollars per share) [1] $ 194.57 $ (171.89) $ 67.26 $ (90.80)
[1]
*Net earnings (loss) per average equivalent Class B share outstanding are one-fifth of the average equivalent Class A share or $38.91 and $13.45 for the second quarter and first six months of 2025, respectively, and $(34.38) and $(18.16) for the second quarter and first six months of 2024, respectively.