2021 Q3 Form 10-Q Financial Statement

#000117494721000803 Filed on August 17, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2020 Q2
Revenue $37.94M $23.66M
YoY Change -19.82%
Cost Of Revenue $15.88M $10.63M
YoY Change -9.91%
Gross Profit $22.06M $13.03M
YoY Change -26.42%
Gross Profit Margin 58.15% 55.07%
Selling, General & Admin $5.252M $4.206M
YoY Change -73.33%
% of Gross Profit 23.81% 32.27%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $770.0K $809.0K
YoY Change 3.59%
% of Gross Profit 3.49% 6.21%
Operating Expenses $5.252M $4.206M
YoY Change -73.33%
Operating Profit $2.609M -$732.0K
YoY Change -137.65%
Interest Expense $210.0K $196.0K
YoY Change -223.27%
% of Operating Profit 8.05%
Other Income/Expense, Net $6.287M -$184.0K
YoY Change
Pretax Income $8.896M -$916.0K
YoY Change -151.32%
Income Tax $475.0K -$53.00K
% Of Pretax Income 5.34%
Net Earnings $7.199M -$455.0K
YoY Change -147.0%
Net Earnings / Revenue 18.98% -1.92%
Basic Earnings Per Share $3.87
Diluted Earnings Per Share $3.87 -$244.8K
COMMON SHARES
Basic Shares Outstanding 1.859M shares
Diluted Shares Outstanding 1.859M shares

Balance Sheet

Concept 2021 Q3 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $31.95M $30.48M
YoY Change 143.21%
Cash & Equivalents $31.95M $30.48M
Short-Term Investments
Other Short-Term Assets $3.022M $2.169M
YoY Change 1.21%
Inventory $4.409M $3.750M
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $39.77M $37.29M
YoY Change 98.16%
LONG-TERM ASSETS
Property, Plant & Equipment $54.11M $72.75M
YoY Change 54.12%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $1.103M $219.0K
YoY Change -6.41%
Other Assets $1.729M $560.0K
YoY Change -26.89%
Total Long-Term Assets $83.48M $74.38M
YoY Change 51.31%
TOTAL ASSETS
Total Short-Term Assets $39.77M $37.29M
Total Long-Term Assets $83.48M $74.38M
Total Assets $123.2M $111.7M
YoY Change 64.28%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.714M $4.216M
YoY Change 82.12%
Accrued Expenses $1.917M $3.154M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $2.751M $5.150M
YoY Change 5.75%
Total Short-Term Liabilities $20.80M $21.16M
YoY Change 36.29%
LONG-TERM LIABILITIES
Long-Term Debt $17.46M $22.01M
YoY Change 145.67%
Other Long-Term Liabilities $25.14M $23.41M
YoY Change
Total Long-Term Liabilities $17.46M $45.42M
YoY Change 406.98%
TOTAL LIABILITIES
Total Short-Term Liabilities $20.80M $21.16M
Total Long-Term Liabilities $17.46M $45.42M
Total Liabilities $63.75M $72.66M
YoY Change 137.68%
SHAREHOLDERS EQUITY
Retained Earnings $49.28M
YoY Change
Common Stock $6.660M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $6.077M
YoY Change
Treasury Stock Shares 2.339M shares
Shareholders Equity $49.86M $39.01M
YoY Change
Total Liabilities & Shareholders Equity $123.2M $111.7M
YoY Change 64.28%

Cashflow Statement

Concept 2021 Q3 2020 Q2
OPERATING ACTIVITIES
Net Income $7.199M -$455.0K
YoY Change -147.0%
Depreciation, Depletion And Amortization $770.0K $809.0K
YoY Change 3.59%
Cash From Operating Activities $4.431M $3.224M
YoY Change 186.83%
INVESTING ACTIVITIES
Capital Expenditures -$2.624M -$496.0K
YoY Change -48.33%
Acquisitions
YoY Change
Other Investing Activities -$257.0K $30.00K
YoY Change 50.0%
Cash From Investing Activities -$2.881M -$466.0K
YoY Change -50.43%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.225M 9.663M
YoY Change -959.7%
NET CHANGE
Cash From Operating Activities 4.431M 3.224M
Cash From Investing Activities -2.881M -466.0K
Cash From Financing Activities -2.225M 9.663M
Net Change In Cash -675.0K 12.42M
YoY Change -1421.38%
FREE CASH FLOW
Cash From Operating Activities $4.431M $3.224M
Capital Expenditures -$2.624M -$496.0K
Free Cash Flow $7.055M $3.720M
YoY Change 78.5%

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CY2021Q2 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
483000 USD
CY2021Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
51555000 USD
CY2021Q3 us-gaap Profit Loss
ProfitLoss
8421000 USD
CY2021Q3 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
483000 USD
CY2021Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
59493000 USD
us-gaap Profit Loss
ProfitLoss
15145000 USD
us-gaap Profit Loss
ProfitLoss
1478000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2367000 USD
bdl Amortization Of Leasehold Purchases
AmortizationOfLeaseholdPurchases
65000 USD
bdl Amortization Of Leasehold Purchases
AmortizationOfLeaseholdPurchases
74000 USD
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
198000 USD
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
USD
bdl Amortization Of Operating Lease Right Of Use Asset
AmortizationOfOperatingLeaseRightOfUseAsset
1785000 USD
bdl Amortization Of Operating Lease Right Of Use Asset
AmortizationOfOperatingLeaseRightOfUseAsset
2269000 USD
bdl Gain On Forgiveness Of Ppp Loans
GainOnForgivenessOfPppLoans
10136000 USD
bdl Gain On Forgiveness Of Ppp Loans
GainOnForgivenessOfPppLoans
USD
us-gaap Other Noncash Expense
OtherNoncashExpense
109000 USD
us-gaap Other Noncash Expense
OtherNoncashExpense
USD
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
33000 USD
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
USD
us-gaap Assets Disposed Of By Method Other Than Sale In Period Of Disposition Gain Loss On Disposition1
AssetsDisposedOfByMethodOtherThanSaleInPeriodOfDispositionGainLossOnDisposition1
-23000 USD
us-gaap Assets Disposed Of By Method Other Than Sale In Period Of Disposition Gain Loss On Disposition1
AssetsDisposedOfByMethodOtherThanSaleInPeriodOfDispositionGainLossOnDisposition1
-21000 USD
bdl Amortization Of Deferred Loan Costs
AmortizationOfDeferredLoanCosts
-66000 USD
bdl Amortization Of Deferred Loan Costs
AmortizationOfDeferredLoanCosts
-25000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
708000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-64000 USD
bdl Income From Unconsolidated Limited Partnership
IncomeFromUnconsolidatedLimitedPartnership
127000 USD
bdl Income From Unconsolidated Limited Partnership
IncomeFromUnconsolidatedLimitedPartnership
6000 USD
us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
-297000 USD
us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
17000 USD
us-gaap Increase Decrease In Prepaid Taxes
IncreaseDecreaseInPrepaidTaxes
75000 USD
us-gaap Increase Decrease In Prepaid Taxes
IncreaseDecreaseInPrepaidTaxes
-41000 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
785000 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
458000 USD
us-gaap Increase Decrease In Prepaid Expenses Other
IncreaseDecreaseInPrepaidExpensesOther
-893000 USD
us-gaap Increase Decrease In Prepaid Expenses Other
IncreaseDecreaseInPrepaidExpensesOther
-982000 USD
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
5000 USD
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
-378000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
2146000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-5000 USD
bdl Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
2564000 USD
bdl Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
1311000 USD
bdl Increase Decrease In Due To Franchisees
IncreaseDecreaseInDueToFranchisees
1572000 USD
bdl Increase Decrease In Due To Franchisees
IncreaseDecreaseInDueToFranchisees
1663000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-1118000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
53000 USD
us-gaap Proceeds From Limited Partnership Investments
ProceedsFromLimitedPartnershipInvestments
20000 USD
us-gaap Proceeds From Limited Partnership Investments
ProceedsFromLimitedPartnershipInvestments
18000 USD
us-gaap Payments To Acquire Limited Partnership Interests
PaymentsToAcquireLimitedPartnershipInterests
375000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
11821000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
2031000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
16810000 USD
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
29922000 USD
CY2019Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
13672000 USD
us-gaap Payments To Acquire Limited Partnership Interests
PaymentsToAcquireLimitedPartnershipInterests
USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-8374000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-2448000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
3237000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
1697000 USD
us-gaap Payments Of Loan Costs
PaymentsOfLoanCosts
56000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
11523000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
7437000 USD
bdl Payments To Acquire Property And Equipment
PaymentsToAcquirePropertyAndEquipment
4759000 USD
bdl Payments To Acquire Property And Equipment
PaymentsToAcquirePropertyAndEquipment
1897000 USD
bdl Purchase Of Construction In Progress
PurchaseOfConstructionInProgress
2634000 USD
bdl Purchase Of Construction In Progress
PurchaseOfConstructionInProgress
176000 USD
us-gaap Payments For Other Deposits
PaymentsForOtherDeposits
509000 USD
us-gaap Payments For Other Deposits
PaymentsForOtherDeposits
446000 USD
bdl Payment Of Liquor License
PaymentOfLiquorLicense
192000 USD
bdl Payment Of Liquor License
PaymentOfLiquorLicense
USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
75000 USD
us-gaap Payments Of Loan Costs
PaymentsOfLoanCosts
USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
14433000 USD
bdl Proceeds From Ppp Loans
ProceedsFromPppLoans
3464000 USD
bdl Proceeds From Ppp Loans
ProceedsFromPppLoans
USD
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
81000 USD
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
USD
us-gaap Payments Of Capital Distribution
PaymentsOfCapitalDistribution
1208000 USD
us-gaap Payments Of Capital Distribution
PaymentsOfCapitalDistribution
915000 USD
CY2021Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
31953000 USD
CY2020Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
30482000 USD
us-gaap Interest Paid Net
InterestPaidNet
737000 USD
us-gaap Interest Paid Net
InterestPaidNet
598000 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
371000 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
USD
bdl Financing Of Insurance Contracts
FinancingOfInsuranceContracts
1429000 USD
bdl Financing Of Insurance Contracts
FinancingOfInsuranceContracts
1317000 USD
bdl Purchase Deposits Transferred To Property And Equipment
PurchaseDepositsTransferredToPropertyAndEquipment
14000 USD
bdl Purchase Deposits Transferred To Property And Equipment
PurchaseDepositsTransferredToPropertyAndEquipment
96000 USD
bdl Purchase Deposits Transferred To Cip
PurchaseDepositsTransferredToCIP
18000 USD
bdl Purchase Deposits Transferred To Cip
PurchaseDepositsTransferredToCIP
2000 USD
bdl Cip Transferred To Property Plant And Eqipment
CipTransferredToPropertyPlantAndEqipment
USD
bdl Cip Transferred To Property Plant And Eqipment
CipTransferredToPropertyPlantAndEqipment
700000 USD
bdl Operating Lease Lliabilities Arising From Right Of Use Asset
OperatingLeaseLliabilitiesArisingFromRightOfUseAsset
6166000 USD
bdl Operating Lease Lliabilities Arising From Right Of Use Asset
OperatingLeaseLliabilitiesArisingFromRightOfUseAsset
USD
bdl Right Of Use Assets And Associated Liabilities Arising From Adoption Of Asc842
RightOfUseAssetsAndAssociatedLiabilitiesArisingFromAdoptionOfAsc842
USD
bdl Right Of Use Assets And Associated Liabilities Arising From Adoption Of Asc842
RightOfUseAssetsAndAssociatedLiabilitiesArisingFromAdoptionOfAsc842
27822000 USD
bdl Purchase Of Vehicles In Exchange For Debt
PurchaseOfVehiclesInExchangeForDebt
58000 USD
bdl Purchase Of Vehicles In Exchange For Debt
PurchaseOfVehiclesInExchangeForDebt
USD
bdl Purchase Of Property In Exchange For Debt
PurchaseOfPropertyInExchangeForDebt
2200000 USD
bdl Purchase Of Property In Exchange For Debt
PurchaseOfPropertyInExchangeForDebt
USD
us-gaap Basis Of Accounting
BasisOfAccounting
<p id="d1e10339_anchor" style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:left; margin-top:11pt; margin-bottom:0pt; "> <span style="font-weight:bold; ">(1) BASIS OF PRESENTATION:</span></p> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:justify; margin-top:11pt; margin-bottom:0pt; ">The accompanying condensed consolidated financial information for the periods ended July 3, 2021 and June 27, 2020 are unaudited. Financial information as of October 3, 2020 has been derived from the audited financial statements of Flanigan’s Enterprises, Inc., a Florida corporation, together with its subsidiaries, (the “Company”, “we”, “our”, “ours” and “us” as the context requires), but does not include all disclosures required by accounting principles generally accepted in the United States of America. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of the financial information for the periods indicated have been included. For further information regarding the Company's accounting policies, refer to the Consolidated Financial Statements and related notes included in the Company's Annual Report on Form 10-K for the year ended October 3, 2020. Operating results for interim periods are not necessarily indicative of results to be expected for a full fiscal year.</p> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:justify; margin-top:11pt; margin-bottom:0pt; ">The condensed consolidated financial statements include the accounts of the Company, its wholly-owned subsidiaries and the accounts of the eight (8) limited partnerships in which we act as general partner and have controlling interests. All intercompany balances and transactions have been eliminated. Non-controlling interest represents the limited partners’ proportionate share of the net assets and results of operations of the eight (8) limited partnerships.</p> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:justify; margin-top:11pt; margin-bottom:0pt; ">These condensed consolidated financial statements include estimates relating to performance based officers’ bonuses. The estimates are reviewed periodically and the effects of any revisions are reflected in the financial statements in the period they are determined to be necessary. Although these estimates are based on management’s knowledge of current events and actions it may take in the future, they may ultimately differ from actual results.</p> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:justify; margin-top:11pt; margin-bottom:0pt; ">The condensed consolidated financial statements include estimates relating to the calculation of incremental borrowing rates and length of leases associated with right-of-use assets and corresponding liabilities. </p>
CY2021Q3 bdl Excluding Coverage Insurance Policies
ExcludingCoverageInsurancePolicies
226000 USD
CY2021Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
798000 USD
CY2021Q3 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
USD
CY2020Q2 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
USD
CY2021Q3 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
USD
CY2020Q2 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
USD
CY2021Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
842000 USD
CY2020Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
1131000 USD
CY2021Q3 us-gaap Lease Cost
LeaseCost
842000 USD
CY2020Q2 us-gaap Lease Cost
LeaseCost
1131000 USD
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
198000 USD
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
USD
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
109000 USD
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
USD
us-gaap Operating Lease Expense
OperatingLeaseExpense
2709000 USD
us-gaap Operating Lease Expense
OperatingLeaseExpense
3391000 USD
us-gaap Lease Cost
LeaseCost
3016000 USD
us-gaap Lease Cost
LeaseCost
3391000 USD
CY2021Q3 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
USD
CY2020Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
4749000 USD
CY2021Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
26531000 USD
CY2020Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
22150000 USD
CY2021Q3 bdl Right Of Use Assets Net
RightOfUseAssetsNet
26531000 USD
CY2020Q4 bdl Right Of Use Assets Net
RightOfUseAssetsNet
26899000 USD
CY2021Q3 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
USD
CY2020Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
4772000 USD
CY2021Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1917000 USD
CY2020Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
3116000 USD
CY2021Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
25138000 USD
CY2020Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
20337000 USD
CY2020Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P0Y5M1D
CY2021Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P9Y21D
CY2020Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P7Y8M15D
CY2021Q3 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
pure
CY2020Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.055 pure
CY2021Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.047 pure
CY2020Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.055 pure
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
812000 USD
CY2021Q3 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
3124000 USD
CY2021Q3 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
3201000 USD
CY2021Q3 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
3240000 USD
CY2021Q3 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
3227000 USD
CY2021Q3 us-gaap Finance Lease Liability Payments Due Year Five
FinanceLeaseLiabilityPaymentsDueYearFive
USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
21089000 USD
CY2021Q3 us-gaap Finance Lease Liability Payments Due After Year Five
FinanceLeaseLiabilityPaymentsDueAfterYearFive
USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
34693000 USD
CY2021Q3 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
USD
CY2021Q3 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
7638000 USD
CY2021Q3 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
USD
CY2021Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
27055000 USD
CY2021Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
USD
us-gaap Loss Contingency Disclosures
LossContingencyDisclosures
<p id="d1e12155_anchor" style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:left; margin-top:22pt; margin-bottom:0pt; "> <span style="font-weight:bold; ">(11) CORONAVIRUS PANDEMIC</span></p> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:justify; margin-top:11pt; margin-bottom:0pt; ">In March 2020, a novel strain of coronavirus was declared a global pandemic and a National Public Health Emergency. The novel coronavirus pandemic and related “shelter-in-place” orders and other governmental mandates relating thereto (collectively, “COVID-19”) adversely affected and will, in all likelihood continue to adversely affect, our restaurant operations and financial results for the foreseeable future. Throughout the third quarter of our fiscal year 2021, in accordance with guidance from health officials, we have offered both indoor and outdoor food and bar options at all of our restaurants, with, among other precautions appropriate social distancing and mask requirements for all customers and employees.</p> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:justify; margin-top:11pt; margin-bottom:0pt; ">During the third quarter of our fiscal year 2020, we, certain of the entities owning the limited partnership stores (the “LP’s”), franchised stores (the “Franchisees”) as well as the store we manage but do not own (the “Managed Store”), (collectively, the “Borrowers”), applied for and received loans from an unrelated third party lender pursuant to the Paycheck Protection Program (the “PPP”) under the Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”) enacted March 27, 2020, in the aggregate principal amount of approximately $13.1 million, (the “PPP Loans”), of which approximately: (i) $5.9 million was loaned to us; (ii) $4.1 million was loaned to 8 of the LP’s; (iii) $2.6 million was loaned to 5 of the Franchisees; and (iv) $0.5 million was loaned to the Managed Store. The PPP Loans to the Franchisees and the Managed Store are not included in our consolidated financial statements. During the second quarter of our fiscal year 2021, we applied for forgiveness for all PPP Loans, including Franchisees and the Managed Store. As of July 3, 2021, the entire amount of principal and accrued interest was forgiven on all of the PPP Loans, of which $10.1 million (principal and interest) was the forgiveness amount for us and the limited partnerships as reflected in the consolidated financial statements.</p> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:justify; margin-top:11pt; margin-bottom:0pt; ">During the second quarter of our fiscal year 2021, certain of the LPs, as well as the Managed Store, applied for and received 2<sup>nd</sup> PPP loans, in the aggregate principal amount of approximately $3.98 million (the “2<sup>nd</sup> PPP Loans”), of which approximately: (i) $3.35 million was loaned to 6 of the LP’s; and (iv) $0.63 million was loaned to the Managed Store.</p> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:justify; margin-top:11pt; margin-bottom:0pt; ">The 2<sup>nd</sup> PPP Loans, which are in the form of notes issued by each of the Borrowers, mature five (5) years from the date of funding (March 23, 2021) and bear interest at a rate of 1.00% per annum, payable monthly commencing after the U.S. Small Business Administration makes a determination of the forgiveness of the 2<sup>nd</sup> PPP Loans. The notes may be prepaid by the applicable Borrower at any time prior to maturity with no prepayment penalties. Proceeds from the PPP Loans have been available to the respective Borrower to fund designated expenses, including certain payroll costs, group health care benefits and other permitted expenses, including rent and interest on mortgages and other debt obligations incurred before February 15, 2020. Under the terms of the PPP, up to the entire amount of principal and accrued interest may be forgiven to the extent the proceeds of the 2<sup>nd</sup> PPP Loans are used for qualifying expenses as described in the CARES Act and applicable implementing guidance issued by the U.S. Small Business Administration under the PPP. No assurance can be given that the Borrowers will obtain forgiveness of the 2<sup>nd</sup> PPP Loans in whole or in part.</p> <p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:justify; margin-top:11pt; margin-bottom:0pt; ">With respect to any portion of any of the 2<sup>nd</sup> PPP Loans that is not forgiven under the terms of the PPP, such amounts will be subject to customary provisions for a loan of this type, including customary events of default relating to, among other things, payment defaults, breaches of the provisions of the applicable 2<sup>nd</sup> PPP Loan and cross-defaults on any other loan with the lender or other creditors. </p>
CY2020Q1 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
5900000 USD
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 Segments
CY2021Q3 us-gaap Revenues
Revenues
37935000 USD
CY2020Q2 us-gaap Revenues
Revenues
23663000 USD
CY2021Q3 bdl Income Before Corporate Expenses1
IncomeBeforeCorporateExpenses1
4525000 USD
CY2020Q2 bdl Income Before Corporate Expenses1
IncomeBeforeCorporateExpenses1
-206000 USD
CY2021Q3 bdl Corporate Expenses Net Of Other Revenues
CorporateExpensesNetOfOtherRevenues
1916000 USD
CY2020Q2 bdl Corporate Expenses Net Of Other Revenues
CorporateExpensesNetOfOtherRevenues
526000 USD
CY2021Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
2609000 USD
CY2020Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-732000 USD
CY2021Q3 us-gaap Interest Expense
InterestExpense
210000 USD
CY2020Q2 us-gaap Interest Expense
InterestExpense
196000 USD
CY2021Q3 bdl Interest With Other Income
InterestWithOtherIncome
14000 USD
CY2020Q2 bdl Interest With Other Income
InterestWithOtherIncome
12000 USD
CY2021Q3 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
6483000 USD
CY2020Q2 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
USD
CY2020Q2 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
USD
CY2021Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
8896000 USD
CY2020Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-916000 USD
CY2021Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
475000 USD
CY2020Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-53000 USD
CY2021Q3 us-gaap Profit Loss
ProfitLoss
8421000 USD
CY2020Q2 us-gaap Profit Loss
ProfitLoss
-863000 USD
CY2021Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
1222000 USD
CY2020Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-408000 USD
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
7199000 USD
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
-455000 USD
CY2021Q3 us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
770000 USD
CY2020Q2 us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
808000 USD
CY2021Q3 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
2432000 USD
CY2020Q2 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
531000 USD
us-gaap Revenues
Revenues
103672000 USD
us-gaap Revenues
Revenues
84732000 USD
bdl Income Before Corporate Expenses1
IncomeBeforeCorporateExpenses1
9192000 USD
bdl Income Before Corporate Expenses1
IncomeBeforeCorporateExpenses1
4464000 USD
bdl Corporate Expenses Net Of Other Revenues
CorporateExpensesNetOfOtherRevenues
-2520000 USD
bdl Corporate Expenses Net Of Other Revenues
CorporateExpensesNetOfOtherRevenues
2448000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
6672000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
2016000 USD
us-gaap Interest Expense
InterestExpense
737000 USD
us-gaap Interest Expense
InterestExpense
598000 USD
bdl Interest With Other Income
InterestWithOtherIncome
45000 USD
bdl Interest With Other Income
InterestWithOtherIncome
37000 USD
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
10136000 USD
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
USD
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
33000 USD
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
16149000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
1455000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1004000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-23000 USD
us-gaap Profit Loss
ProfitLoss
15145000 USD
us-gaap Profit Loss
ProfitLoss
1478000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
4715000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
791000 USD
us-gaap Net Income Loss
NetIncomeLoss
10430000 USD
us-gaap Net Income Loss
NetIncomeLoss
687000 USD
us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
2306000 USD
us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
2441000 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
9683000 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
2171000 USD
CY2021Q3 us-gaap Assets
Assets
123243000 USD
CY2020Q4 us-gaap Assets
Assets
112484000 USD

Files In Submission

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0001174947-21-000803.txt Edgar Link pending
0001174947-21-000803-xbrl.zip Edgar Link pending
bdl-20210703.xsd Edgar Link pending
bdl-20210703_cal.xml Edgar Link unprocessable
bdl-20210703_def.xml Edgar Link unprocessable
bdl-20210703_lab.xml Edgar Link unprocessable
bdl-20210703_pre.xml Edgar Link unprocessable
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