Biglari Holdings Inc
For the period ended Dec 31, 2024. Filed Mar 3, 2025.
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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$1,688.84-6.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Operating activities | |||
| Net earnings (loss) | $(3,759) | $55,539 | $(32,305) |
| Adjustments to reconcile net earnings (loss) to operating cash flows: | |||
| Depreciation and amortization | 39,843 | 38,979 | 36,443 |
| Provision for deferred income taxes | (8,489) | 6,567 | (15,582) |
| Asset impairments | 1,107 | 3,947 | 3,520 |
| Gains on sale of assets | (22,796) | (21,241) | (1,578) |
| Investment (gains) losses | (335) | (2,211) | 3,393 |
| Investment partnership (gains) losses | 41,058 | (19,440) | 75,953 |
| Distributions from investment partnerships | 10,000 | 14,500 | 70,700 |
| Changes in receivables and inventories | (5,243) | 5,783 | 3,339 |
| Changes in other assets | (2,094) | 2,810 | 8,523 |
| Changes in accounts payable and accrued expenses | 368 | (12,231) | (24,581) |
| Net cash provided by operating activities | 49,660 | 73,002 | 127,825 |
| Investing activities | |||
| Capital expenditures | (30,594) | (23,405) | (29,746) |
| Proceeds from property and equipment disposals | 29,138 | 24,627 | 5,318 |
| Acquisition of business, net of cash acquired | — | — | (58,274) |
| Purchases of noncontrolling interests | — | (5,387) | — |
| Purchases of interests in limited partnerships | (75,938) | (45,030) | (48,569) |
| Purchases of investments | (67,445) | (107,866) | (134,451) |
| Sales of investments and redemptions of fixed maturity securities | 57,451 | 90,981 | 129,117 |
| Net cash used in investing activities | (87,388) | (66,080) | (136,605) |
| Financing activities | |||
| Payments on line of credit | (16,050) | (41,600) | (20,000) |
| Proceeds from line of credit | 61,050 | 31,600 | 30,000 |
| Principal payments on direct financing lease obligations | (5,516) | (6,132) | (6,140) |
| Net cash provided by (used in) financing activities | 39,484 | (16,132) | 3,860 |
| Effect of exchange rate changes on cash | 22 | 59 | 38 |
| Increase (decrease) in cash, cash equivalents, and restricted cash | 1,778 | (9,151) | (4,882) |
| Cash, cash equivalents, and restricted cash at beginning of period | 29,654 | 38,805 | 43,687 |
| Cash, cash equivalents, and restricted cash at end of period | $31,432 | $29,654 | $38,805 |
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Cash and cash equivalents | $30,709 | $28,066 | $37,467 |
| Restricted cash included in other long-term assets | 723 | 1,588 | 1,338 |
| Cash, cash equivalents, and restricted cash at end of period | $31,432 | $29,654 | $38,805 |
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