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CONSOLIDATED STATEMENTS OF CASH FLOWS - Consolidated - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2015
Sep. 24, 2014
Sep. 25, 2013
Operating activities          
Net earnings (loss) $ 91,050 $ 18,949 $ (15,843) $ 28,804 $ 142,172
Adjustments to reconcile net earnings to operating cash flows          
Depreciation and amortization 6,828 6,566 24,780 24,905 25,250
Provision for deferred income taxes 52,909 6,623 (26,476) 9,164 72,035
Asset impairments and other non-cash expenses 84 162 2,232 3,253 3,508
Loss on disposal of assets 707 162 1,351 977 1,111
Gain on sale of Biglari Capital Corp 0 0 0 0 (1,597)
Investment (gains) losses (including contributions) 0 0 62 (29,578) (182,177)
Investment partnership (gains) losses (144,702) (23,493) 39,356 (14,055) (20,068)
Distributions from investment partnerships 0 1,469 19,775 10,340 0
Changes in operating assets and liabilities          
Changes in receivables and inventories (3,404) (709) 686 (5,926) 195
Changes in other assets (855) (793) 2,299 (2,599) (2,742)
Changes in accounts payable and accrued expenses 3,026 (3,590) 4,275 2,290 3,764
Investment operations of consolidated affiliated partnerships:          
Sales of investments 0 0   0 1,516
Investment gains/losses 0 0   0 (3,597)
Changes in cash and cash equivalents 0 0   0 (578)
Net cash provided by operating activities 5,643 5,346 52,497 27,575 38,792
Investing activities          
Additions of property and equipment (8,816) (5,283) (11,083) (35,812) (14,167)
Proceeds from property and equipment disposals 924 519 135 2,641 2,449
Acquisitions of businesses, net of cash acquired 0 0 0 (40,143) 0
Purchase of lease rights 0 0 0 0 (3,770)
Proceeds from sale of Biglari Capital Corp., net of cash on hand 0 0 0 0 1,699
Purchases of investments (1,372) 0 (114,759) (112,530) (46,977)
Sales of investments and redemptions of fixed maturity secruities 11,748 0 12,407 11,986 1
Changes in restricted assets 0 0 0 3,098 0
Net cash (used in) provided by investing activities 2,484 (4,764) (113,300) (170,760) (60,765)
Financing activities          
Proceeds from revolving credit facility 0 7,000 0 11,700 17,000
Payments on revolving credit facility (20) 0 (194) (10,700) (17,000)
Borrowings on long-term debt 0 0 0 217,800 0
Principal payments on long-term debt (1,100) (15,438) (5,975) (120,800) (12,138)
Deferred financing charges 0 0 0 (4,754) 0
Principal payments on direct financing lease obligations (1,628) (1,582) (6,360) (6,278) (5,904)
Proceeds from stock rights offering 0 0 0 85,873 75,595
Proceeds from exercise of stock options 3 0 222 24 16
Financing activities of consolidated affiliated partnerships:          
Contributions from and distributions to noncontrolling interests, net 0 0 0 0 (1,226)
Net cash (used in) provided by financing activities (2,745) (10,020) (12,307) 172,865 56,343
Effect of exchange rate changes on cash (3) 289 (36) (16) (103)
Increase (decrease) in cash and cash equivalents 5,379 (9,149) (73,146) 29,664 34,267
Cash and cash equivalents at beginning of year 124,290 94,626 129,669 94,626 60,359
Cash and cash equivalents at end of year $ 129,669 $ 85,477 $ 56,523 $ 124,290 $ 94,626