CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Shareholders' equity
Accumulated other comprehensive loss	$ (3,679)	$ (783)
Biglari Holdings Inc. shareholders' equity	451,372	725,551
Consolidated
Current assets:
Cash and cash equivalents	56,523	129,669
Investments	23,750	10,800
Receivables	17,716	19,003
Inventories	7,593	7,255
Deferred taxes	13,263	12,019
Other current assets	7,943	7,707
Total current assets	126,788	186,453
Property and equipment	332,324	353,875
Goodwill	40,022	40,164
Other intangible assets	21,673	22,756
Investment partnerships	471,689	697,982
Other assets	11,422	13,561
Total assets	1,003,918	1,314,791
Current liabilities:
Accounts payable	34,649	39,996
Accrued expenses	74,429	65,476
Current portion of notes payable and other borrowings	8,477	9,315
Total current liabilities	117,555	114,787
Long-term notes payable and other borrowings	298,950	312,595
Deferred taxes	125,130	150,732
Other liabilities	10,911	11,126
Total liabilities	552,546	589,240
Shareholders' equity
Common stock - 2,066,691 and 2,065,586 shares outstanding	1,071	1,071
Additional paid-in capital	391,853	391,877
Retained earnings	415,982	431,825
Accumulated other comprehensive loss	(3,679)	(783)
Treasury stock, at cost	(353,855)	(98,439)
Biglari Holdings Inc. shareholders' equity	451,372	725,551
Total liabilities and shareholders' equity	$ 1,003,918	$ 1,314,791