Biglari Holdings Inc
For the period ended Dec 31, 2023. Filed Feb 26, 2024.
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FY2023 · Filed Feb 26, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 2. Properties
Restaurant Properties
As of December 31, 2023, restaurant operations included 492 company-operated and franchise locations. Restaurant operations own the land and building for 142 restaurants; they also own one other property. The following table lists the locations of the restaurants as of December 31, 2023.
| Steak n Shake · Western Sizzlin | ||||||
|---|---|---|---|---|---|---|
| CompanyOperated | FranchisePartner | TraditionalFranchise | CompanyOperated | Franchise | Total | |
| Domestic: | ||||||
| Alabama | 1 | 1 | 4 | — | 5 | 11 |
| Arkansas | — | — | 4 | — | 6 | 10 |
| California | — | — | 2 | — | — | 2 |
| Colorado | 1 | — | — | — | — | 1 |
| Florida | 16 | 60 | 5 | — | — | 81 |
| Georgia | 7 | 11 | 10 | — | 4 | 32 |
| Illinois | 37 | 17 | 8 | — | — | 62 |
| Indiana | 35 | 20 | 1 | — | — | 56 |
| Iowa | 2 | 1 | 1 | — | — | 4 |
| Kansas | — | — | 2 | — | — | 2 |
| Kentucky | — | 12 | 6 | — | — | 18 |
| Louisiana | — | — | 1 | — | — | 1 |
| Maryland | — | — | — | — | 1 | 1 |
| Michigan | 7 | 6 | 1 | — | — | 14 |
| Mississippi | — | — | 6 | — | 1 | 7 |
| Missouri | 6 | 14 | 20 | — | — | 40 |
| Nebraska | — | — | 1 | — | — | 1 |
| Nevada | — | — | 5 | — | — | 5 |
| North Carolina | 1 | 5 | 2 | — | 6 | 14 |
| Ohio | 27 | 19 | 1 | — | 1 | 48 |
| Oklahoma | — | — | 2 | — | 2 | 4 |
| Pennsylvania | 1 | — | 1 | — | — | 2 |
| South Carolina | 1 | — | 2 | — | 1 | 4 |
| Tennessee | 1 | 7 | 9 | — | 3 | 20 |
| Texas | 1 | 8 | 10 | — | — | 19 |
| Virginia | — | — | 4 | 2 | 2 | 8 |
| Washington, D.C. | — | — | 1 | — | — | 1 |
| West Virginia | — | — | 2 | 1 | — | 3 |
| International: | ||||||
| France | 2 | — | 17 | — | — | 19 |
| Monaco | 1 | — | — | — | — | 1 |
| Spain | 1 | — | — | — | — | 1 |
| Total | 148 | 181 | 128 | 3 | 32 | 492 |
As of December 31, 2023, 17 of the 148 Steak n Shake company-operated stores were closed. Steak n Shake plans to sell or lease 10 of the 17 locations and refranchise the balance.
Other Properties
Southern Oil primarily operates oil and natural gas wells in Louisiana. Its operations are primarily offshore in the shallow waters of the Gulf of Mexico.
Abraxas Petroleum operates oil and natural gas wells in the Permian Basin.
Through its subsidiaries, the Company owns Steak n Shake’s office building in Indianapolis, Indiana; First Guard’s office building in Venice, Florida; and Southern Pioneer’s office building in Jonesboro, Arkansas. In addition, the Company owns eight various locations that are being leased or are available to be leased by third parties, along with owning one undeveloped property in San Antonio, Texas.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.