BBX Capital Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

IT'SUGAR Bankruptcy (Tables)

IT'SUGAR Bankruptcy (Tables)

3 Months Ended

Mar. 31, 2022


	For the Three Months Ended March 31,
	2022		2021
Trade sales	$	24,255		—
Loss before income taxes	$	(1,021)		—

Pro Forma Information


	Actual		Pro Forma
	March 31,		March 31,
	2022		2021
Trade sales	$	65,749		64,979
(Loss) income before income taxes	$	(2,754)		2,181
Net (loss) income	$	(1,926)		1,459
Net (loss) income attributable to shareholders	$	(1,816)		1,507

IT'SUGAR, LLC [Member]

Business Acquisition [Line Items]

Summary Of Summary Of Purchase Price allocation

The following table summarizes the fair values of the assets acquired and liabilities assumed of IT’SUGAR at the consolidation date (in thousands):



Cash	$	6,909
Trade accounts receivable		584
Trade inventory		5,337
Property and equipment		19,291
Identifiable intangible assets⁽¹⁾		9,670
Operating lease assets ⁽²⁾		54,421
Other assets		3,323
Total assets acquired		99,535
Accounts payable		(2,517)
Accrued expenses		(8,445)
Other liabilities		(124)
Operating lease liabilities		(63,143)
Notes payable and other borrowings ⁽⁴⁾		(10,054)
Total liabilities assumed		(84,283)
Fair value of identifiable net assets		15,252
Fair value of net assets acquired		28,590
Fair value of redeemable noncontrolling interest		936
Fair value of IT'SUGAR		29,526
Goodwill	$	14,274

Gain on the consolidation of IT'SUGAR ⁽³⁾	$	15,890

(1)Identifiable intangible assets primarily include the estimated fair value of IT’SUGAR’s trademark, which is being amortized over an estimated expected useful life of 15 years.

(2)Includes a net intangible liability of $8.7 million related to off market rents associated with certain of IT’SUGAR’s retail locations that is expected to be recognized over a weighted average lease term of approximately 8 years.

(3)The gain is comprised of the remeasurement of the Company’s equity interest in IT’SUGAR at fair value.

(4)Notes payable and other borrowings reflects amounts due to the Company’s wholly-owned subsidiary that have been eliminated in consolidation as of and subsequent to the consolidation date.