Portillos Inc
For the period ended Dec 31, 2023. Filed Feb 27, 2024.
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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.
FY2023 · Filed Feb 27, 2024
PTLO$6.98+1.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Stockholders' and Members' Equity
(In thousands, except unit/share data)
| FOR THE FISCAL YEARS ENDED DECEMBER 25, 2022 and DECEMBER 26, 2021 | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Preferred Units · Class A Common Stock · Class BCommon Stock | |||||||||||||||
| Units · Amount · Members' Equity · Shares · Amount · Shares · Amount · Additional Paid-In Capital · Accumulated Deficit · Non-controlling interest · Total Equity | |||||||||||||||
| Balance, as of December 27, 2020 | 100,000 | $200,571 | $140,709 | — | $— | — | $— | $— | $— | $— | $140,709 | ||||
| Redeemable preferred units accretion and redemption premium | — | 21,176 | (21,176) | — | — | — | — | — | — | — | (21,176) | ||||
| Issuance of common units | — | — | 100 | — | — | — | — | — | — | — | 100 | ||||
| Repayment of subscription receivable | — | — | 499 | — | — | — | — | — | — | — | 499 | ||||
| Net income prior to the Transactions | — | — | 21,942 | — | — | — | — | — | — | — | 21,942 | ||||
| Unit-based compensation prior to the Transactions | — | — | 492 | — | — | — | — | — | — | — | 492 | ||||
| Effect of the Transactions | — | — | (142,566) | 12,496,361 | 125 | 35,673,321 | — | 71,416 | — | 71,150 | 125 | ||||
| Issuance of Class A common stock sold in initial public offering, net of underwriting discounts of $29.1 million and other offering expenses of $7.1 million | — | — | — | 23,310,810 | 233 | — | — | 372,658 | — | — | 372,891 | ||||
| Allocation of equity to non-controlling interests | — | — | — | — | — | — | — | (185,980) | — | 185,980 | — | ||||
| Payoff of redeemable preferred units | (100,000) | (221,747) | — | — | — | — | — | — | — | — | — | ||||
| Net loss subsequent to the Transactions | — | — | — | — | — | — | — | — | (15,950) | (19,408) | (35,358) | ||||
| Equity-based compensation subsequent to the Transactions | — | — | — | — | — | — | — | 14,477 | — | 14,420 | 28,897 | ||||
| Establishment of Tax Receivable Agreement liability and corresponding deferred tax assets | — | — | — | — | — | — | (85,715) | — | — | (85,715) | |||||
| Balance, as of December 26, 2021 | — | $— | $— | 35,807,171 | $358 | 35,673,321 | $— | $186,856 | $(15,950) | $252,142 | $423,406 | ||||
| Net income | — | — | — | — | — | — | — | — | 10,851 | 6,306 | 17,157 | ||||
| Adoption of Accounting Standards Codification 842 - Leases | — | — | — | — | — | — | — | — | 287 | 174 | 461 | ||||
| Equity-based compensation expense | — | — | — | — | — | — | — | 8,820 | — | 7,317 | 16,137 | ||||
| Activity under equity-based compensation plans | — | — | — | 777,393 | 8 | — | — | (606) | — | — | (598) | ||||
| Redemption of LLC Units in connection with the secondary offering | — | — | — | 11,836,159 | 118 | (11,836,159) | — | (118) | — | — | — | ||||
| Non-controlling interest adjustment | — | — | — | — | — | — | — | 89,374 | — | (89,374) | — | ||||
| Establishment of liabilities under tax receivable agreement and related changes to deferred tax assets associated with increases in tax basis | — | — | — | — | — | — | — | (23,662) | — | — | (23,662) | ||||
| Balance, as of December 25, 2022 | — | $— | $— | 48,420,723 | $484 | 23,837,162 | $— | $260,664 | $(4,812) | $176,565 | $432,901 | ||||
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' AND MEMBERS' EQUITY
(In thousands, except unit/share data)
| FOR THE FISCAL YEAR ENDED DECEMBER 31, 2023 | ||||||||
|---|---|---|---|---|---|---|---|---|
| Class A Common Stock · Class BCommon Stock | ||||||||
| Shares | Amount | Shares | Amount | Additional Paid-In Capital | Retained Earnings (Accumulated Deficit) | Non-controlling interest | Total Equity | |
| Balance, as of December 25, 2022 | 48,420,723 | $484 | 23,837,162 | $— | $260,664 | $(4,812) | $176,565 | $432,901 |
| Net income | — | — | — | — | — | 18,424 | 6,394 | 24,818 |
| Equity-based compensation expense | — | — | — | — | 11,522 | — | 4,020 | 15,542 |
| Activity under equity-based compensation plans | 717,416 | 7 | — | — | 953 | — | — | 960 |
| Redemption of LLC Units in connection with the secondary offering | 6,350,717 | 64 | (6,350,717) | — | (64) | — | — | — |
| Redemption of LLC interests | 13,519 | — | (13,519) | — | — | — | — | — |
| Non-controlling interest adjustment | — | — | — | — | 48,849 | — | (48,849) | — |
| Establishment of liabilities under taxreceivable agreement and relatedchanges to deferred tax assetsassociated with increases in tax basis | — | — | — | — | (13,712) | — | — | (13,712) |
| Distributions paid to non-controlling interest holders | — | — | — | — | — | — | (399) | $(399) |
| Balance, as of December 31, 2023 | 55,502,375 | $555 | 17,472,926 | $— | $308,212 | $13,612 | $137,731 | $460,110 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.