Equity Method Investment

12 Months Ended

Dec. 31, 2024

Equity Method Investments and Joint Ventures [Abstract]

(6)

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. During the year ended December 31, 2023, the Company received distributions of $625 thousand from GKBH.

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


(in thousands)	December 31, 2023
Current assets		808
Noncurrent assets		2,290
Current liabilities		972
Noncurrent liabilities		1,064


	Twelve months ended December 31,
(in thousands)	2023
Net sales or gross revenue		7,412
Operating income		4,967
Net income		1,071
Net income attributable to the entity		535