Annual report pursuant to Section 13 and 15(d)

Note 23 - IT'SUGAR Bankruptcy (Tables)

v3.22.4
Note 23 - IT'SUGAR Bankruptcy (Tables)
12 Months Ended
Dec. 31, 2022
Notes Tables  
Reorganization, Chapter 11 [Table Text Block]
   

September 22,

 
   

2020

 

ASSETS

       

Cash and cash equivalents

  $ 1,045  

Restricted cash

    20  

Trade accounts receivable, net

    103  

Trade inventory

    6,213  

Property and equipment, net

    22,162  

Goodwill

    14,864  

Intangible assets, net

    3,222  

Operating lease assets

    64,889  

Other assets

    1,707  

Total assets

  $ 114,225  

LIABILITIES AND EQUITY

       

Liabilities:

       

Accrued expenses

    13,441  

Operating lease liabilities

    80,388  

Notes payable and other borrowings

    6,199  

Total liabilities

    100,028  

Equity:

       

Additional paid-in capital

    59,809  

Accumulated earnings

    (50,102 )

Noncontrolling interests

    4,490  

Total equity

    14,197  

Total liabilities and equity

  $ 114,225  

 

Business Acquisition, Pro Forma Information [Table Text Block]
   

Actual

   

Unaudited Pro Forma

 
   

For the Years Ended December 31,

 
   

2022

   

2021

   

2020

 

Trade sales

  $ 280,125       277,769       162,056  

Income (loss) before income taxes

  $ 42,791       52,788       (62,156 )

Income (loss)

  $ 27,642       39,690       (49,093 )

Net income (loss) income attributable to shareholders

  $ 28,020       39,146       (43,596 )

 

IT’SUGAR [Member]  
Notes Tables  
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

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)

    54,253  

Other assets

    3,323  

Total assets acquired

    99,367  

Accounts payable

    (2,517 )

Accrued expenses

    (8,445 )

Other liabilities

    (124 )

Operating lease liabilities

    (62,975 )

Notes payable and other borrowings(3)

    (10,054 )

Total liabilities assumed

    (84,115 )

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(4)

  $ 15,890  

 

Business Acquisition, Consolidated Information Since Acquisition [Table Text Block]
   

For the Years Ended December 31,

 
   

2022

   

2021

   

2020

 

Trade sales

  $ 119,302       62,161       31,794  

Income (loss) before income taxes

  $ 2,307       2,516       (41,182 )