Biglari Holdings Inc

For the period ended Dec 31, 2024. Filed Mar 3, 2025.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2024 · Filed Mar 3, 2025

BH-A$1,806.75+14.8%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Cover page

Part I

Item 1. Business Item 1A. Risk Factors Item 1B. Unresolved Staff Comments Item 1C. Cybersecurity Item 2. Properties Item 3. Legal Proceedings

Item 4. Mine Safety Disclosures (no text here)

Part II

Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Item 6. [Reserved]Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations

Item 7A. Quantitative and Qualitative Disclosures about Market Risk (no text here)

Item 8. Financial Statements and Supplementary Data Consolidated Balance Sheets Consolidated Statements of Earnings Consolidated Statements of Comprehensive Income Item 8. Consolidated Statements of Cash Flows Consolidated Statements of Changes in Shareholders’ Equity Notes to Consolidated Financial Statements

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure (no text here)

Item 9A. Controls and Procedures Item 9B. Other Information

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections (no text here)

Part III

Item 10. Directors, Executive Officers and Corporate Governance (no text here)

Item 11. Executive Compensation (no text here)

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters (no text here)

Item 13. Certain Relationships and Related Transactions, and Director Independence (no text here)

Item 14. Principal Accountant Fees and Services

Part IV

Item 15. Exhibits and Financial Statement Schedules

Item 16. Form 10-K Summary

Signatures

Consolidated Balance Sheets

	December 31,
	2024	2023
Assets
Current assets:
Cash and cash equivalents	$30,709	$28,066
Investments	102,975	91,879
Receivables	25,184	22,241
Inventories	4,031	2,980
Other current assets	7,716	7,385
Total current assets	170,615	152,551
Property and equipment	376,155	380,491
Operating lease assets	34,011	32,215
Goodwill	52,496	53,530
Other intangible assets	22,820	23,230
Investment partnerships	201,727	199,103
Other assets	8,309	8,302
Total assets	$866,133	$849,422
Liabilities and shareholders’ equity
Liabilities
Current liabilities:
Accounts payable and accrued expenses	$63,381	$66,743
Loss and loss adjustment expenses	17,250	15,168
Unearned premiums	17,236	14,334
Current portion of lease obligations	14,449	14,855
Line of credit	35,000	—
Total current liabilities	147,316	111,100
Lease obligations	90,739	86,389
Line of credit	10,000	—
Deferred taxes	29,393	37,939
Asset retirement obligations	15,218	14,316
Other liabilities	506	348
Total liabilities	293,172	250,092
Shareholders’ equity
Common stock	1,138	1,138
Additional paid-in capital	385,594	385,594
Retained earnings	627,699	631,458
Accumulated other comprehensive loss	(2,872)	(2,518)
Treasury stock, at cost	(438,598)	(416,342)
Biglari Holdings Inc. shareholders’ equity	572,961	599,330
Total liabilities and shareholders’ equity	$866,133	$849,422

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.