Biglari Statements
BH
Biglari Income Statement
B
M
USD (except Earnings per share)
Financial
Revenue
Cost of sales
Gross profit
Research and development
Selling, general and administrative
Total operating expenses
Operating income
Interest expense
Other income
Income before tax
Provision for income taxes
Net income
Diluted earnings per share
Shares outstanding after dilution
91.141
100
57.436
63
33.705
37
—
0
18.653
20.5
27.775
30.5
5.93
6.5
-84.01
-92.2
—
0
-62.915
-69.03
-14.725
-16.2
-48.19
-52.9
-85.947
0.561
89.451
100
54.486
60.9
34.965
39.1
—
0
18.275
20.4
28.328
31.7
6.637
7.4
22.384
25
—
0
29.395
32.9
6.816
7.6
22.579
25.2
39.778
0.568
90.665
100
52.082
57.4
38.583
42.6
—
0
22.415
24.7
31.749
35
6.834
7.5
45.426
50.1
—
0
50.694
55.9
6.054
6.7
44.64
49.2
77.65
0.575
90.937
100
54
59.4
36.937
40.6
—
0
18.315
20.1
27.926
30.7
9.011
9.9
-95.838
-105.4
—
0
-74.016
-81.4
-17.502
-19.2
-56.514
-62.1
-97.774
0.578
93.5
100
52.2
55.8
41.3
44.2
—
0
19
20.3
29.1
31.1
12.3
13.2
-8.5
-9.09
—
0
2.9
3.1
1
1.1
1.9
2
1.11
1.7
90.2
100
51.7
57.3
38.5
42.7
—
0
17.3
19.2
27.2
30.2
11.3
12.5
74.8
82.9
—
0
85.3
94.6
19.7
21.8
64.9
72
36.05
1.8
98.5
100
53.4
54.2
45
45.7
—
0
22.3
22.6
34.7
35.2
10.4
10.6
5.4
5.5
—
0
12.3
12.5
2.6
2.6
9.7
9.8
5.39
1.8
92
100
53.8
58.5
38.2
41.5
—
0
15.5
16.8
24
26.1
14.3
15.5
27.4
29.8
—
0
41.6
45.2
9.6
10.4
32
34.8
17.77
1.8
92.4
100
54.3
58.8
38.1
41.2
—
0
16.6
18
24.4
26.4
13.7
14.8
-110.2
-119.3
—
0
-96.5
-104.4
-22.7
-24.6
-73.8
-79.9
-41
1.8
85.4
100
53.9
63.1
31.5
36.9
—
0
16.2
19
24.1
28.2
7.4
8.7
-7.8
-9.1
—
0
-0.5
-0.6
-0.2
-0.2
-0.3
-0.4
-0.17
1.8
98.9
100
53.6
54.2
45.4
45.9
—
0
25.2
25.5
33
33.4
12.4
12.5
-17.9
-18.1
—
0
-9.6
-9.7
-4.8
-4.9
-4.8
-4.9
-2.53
1.9
82.1
100
55.3
67.4
26.8
32.6
—
0
16.9
20.6
24.6
30
2.2
2.7
-17.2
-21
—
0
-14.9
-18.1
-4.3
-5.2
-10.7
-13.03
-5.62
1.9
90.8
100
54.8
60.4
36
39.6
—
0
18.4
20.3
25.7
28.3
10.2
11.2
-36.9
-40.6
—
0
-26.9
-29.6
-6.2
-6.8
-20.7
-22.8
-10.89
1.9
94.3
100
59.7
63.3
34.6
36.7
—
0
15.5
16.4
22.7
24.1
11.9
12.6
82.1
87.1
—
0
93.7
99.4
22
23.3
71.7
76
37.73
1.9
99.6
100
65.1
65.4
34.6
34.7
—
0
15.7
15.8
23.6
23.7
10.9
10.9
44.1
44.3
—
0
47.6
47.8
11.2
11.2
36.3
36.4
18.15
2
101.8
100
68.1
66.9
33.8
33.2
—
0
19.9
19.5
27.1
26.6
6.6
6.5
23.8
23.4
—
0
26.7
26.2
5.6
5.5
21.1
20.7
10.04
2.1
96.5
100
63.8
66.1
32.7
33.9
—
0
19.2
19.9
26.1
27
6.6
6.8
57.1
59.2
—
0
57.2
59.3
14.8
15.3
42.5
44
20.25
2.1
135.7
100
99.8
73.5
35.9
26.5
—
0
17.2
12.7
27.3
20.1
8.6
6.3
-180
-132.6
—
0
-181.7
-133.9
-43.8
-32.3
-137.9
-101.6
-65.66
2.1
158.4
100
115
72.6
43.5
27.5
—
0
18.3
11.6
29.6
18.7
13.8
8.7
3.3
2.1
—
0
16.3
10.3
2.7
1.7
13.6
8.6
6.47
2.1
160.2
100
121.7
76
38.5
24
—
0
22.9
14.3
30.5
19
8
5
-3.6
-2.2
—
0
-0.6
-0.4
-0.6
-0.4
—
0
-0.01
2
168.3
100
137.9
81.9
30.5
18.1
—
0
26
15.4
31.2
18.5
-0.8
-0.5
29
17.2
—
0
27.9
16.6
5.9
3.5
22
13.1
10.47
2.1
181.9
100
159
87.4
22.8
12.5
—
0
33
18.1
38.5
21.2
-15.6
-8.6
29.1
16
—
0
11.6
6.4
1.7
0.9
9.8
5.4
4.66
2.1
195.3
100
162.2
83.1
33.1
16.9
—
0
35
17.9
39.8
20.4
-6.6
-3.4
59.3
30.4
—
0
52.7
27
11.6
5.9
42.4
21.7
20.19
2.1
203.6
100
167.4
82.2
36.2
17.8
—
0
32.3
15.9
37.1
18.2
-0.9
-0.4
-24
-11.8
—
0
-24.9
-12.2
-11.2
-5.5
-13.7
-6.7
-6.52
2.1
208.7
100
166
79.5
42.7
20.5
—
0
33
15.8
37.8
18.1
5
2.4
-13.4
-6.4
—
0
-8.4
-4.02
-0.9
-0.4
-7.5
-3.6
-3.57
2.1
202.2
100
165.8
82
36.4
18
—
0
32.7
16.2
37.6
18.6
-1.2
-0.6
-1.4
-0.7
—
0
-2.6
-1.3
-0.8
-0.4
-1.8
-0.9
-0.86
2.1
209.2
100
172.9
82.6
36.3
17.4
—
0
37.2
17.8
42.3
20.2
-6
-2.9
33.6
16.1
—
0
27.6
13.2
9.8
4.7
69.5
33.2
57.91
1.2
214.2
100
177.6
82.9
36.7
17.1
—
0
32.5
15.2
37.7
17.6
-1.1
-0.5
-48.8
-22.8
—
0
-49.9
-23.3
-25.2
-11.8
-24.7
-11.5
-20.58
1.2
213
100
173
81.2
40
18.8
—
0
31.7
14.9
37.1
17.4
2.9
1.4
32.1
15.1
—
0
35
16.4
13.9
6.5
21.1
9.9
17.58
1.2
203.4
100
163.8
80.5
39.6
19.5
—
0
29.5
14.5
35.1
17.3
4.5
2.2
-30.1
-14.8
—
0
-25.6
-12.6
-9.8
-4.8
-15.8
-7.8
-13.16
1.2
206
100
163.9
79.6
42.1
20.4
—
0
32.9
16
38.5
18.7
3.6
1.7
109.1
53
—
0
112.7
54.7
41.8
20.3
70.9
34.4
59.08
1.2
216.7
100
170
78.4
46.7
21.6
—
0
31.2
14.4
37.1
17.1
9.6
4.4
-113.9
-52.6
—
0
-104.3
-48.1
-44.1
-20.4
-60.1
-27.7
-50.08
1.2
219.1
100
169.5
77.4
49.6
22.6
—
0
32.8
15
38.2
17.4
11.5
5.2
45.6
20.8
—
0
57.1
26.1
19.6
8.9
37.5
17.1
31.25
1.2
208.2
100
164.9
79.2
43.3
20.8
—
0
30.3
14.6
36.4
17.5
7
3.4
73.8
35.4
—
0
80.7
38.8
29.6
14.2
51.2
24.6
42.66
1.2
215.2
100
168.7
78.4
46.5
21.6
—
0
34.7
16.1
40.7
18.9
5.9
2.7
-67.3
-31.3
—
0
-61.5
-28.6
-26.3
-12.2
-35.2
-16.4
-27.07
1.3
218.4
100
171.7
78.6
46.8
21.4
—
0
31.7
14.5
37.8
17.3
9
4.1
0.1
0.05
—
0
9.1
4.2
-0.2
-0.09
9.3
4.3
7.15
1.3
222
100
170.7
76.9
51.2
23.1
—
0
36.2
16.3
42.5
19.1
8.8
4
-11
-5
—
0
-2.2
-1
-2.2
-1
—
0
0.01
1.9
205.8
100
167.1
81.2
38.7
18.8
—
0
32.5
15.8
39
19
-0.3
-0.1
17.5
8.5
—
0
17.2
8.4
7.2
3.5
10
4.9
5.26
1.9
224.5
100
180
80.2
44.4
19.8
—
0
30.8
13.7
37.7
16.8
6.7
3
138.9
61.9
—
0
145.6
64.9
54.6
24.3
91.1
40.6
47.94
1.9
193.7
100
455.9
235.4
-262.2
-135.4
—
0
56.3
29.1
-259.4
-133.9
-2.8
-1.4
7.7
4
—
0
6
3.1
4.5
2.3
8.5
4.4
5
1.7
193.2
100
138.7
71.8
54.6
28.3
—
0
45.9
23.8
51.6
26.7
2.9
1.5
-4.7
-2.4
—
0
-1.9
-1
3.8
2
9.6
5
5.99
1.6
234.6
100
174.5
74.4
60.1
25.6
—
0
42.5
18.1
50
21.3
10.1
4.3
24.9
10.6
—
0
33.6
14.3
-6.5
-2.8
-5.8
-2.5
-3.62
1.6
172.3
100
130
75.4
42.3
24.6
—
0
32.2
18.7
37.7
21.9
4.6
2.7
-3.1
-1.8
—
0
1.4
0.8
8.4
4.9
16.5
9.6
10.31
1.6