2023 Q1 Form 10-K Financial Statement

#000172358023000008 Filed on April 03, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2023
Revenue $45.24M $178.7M
YoY Change 0.67%
Cost Of Revenue $24.94M $100.7M
YoY Change -3.59%
Gross Profit $20.29M $78.03M
YoY Change 6.45%
Gross Profit Margin 44.86% 43.66%
Selling, General & Admin $12.77M $55.69M
YoY Change -28.25%
% of Gross Profit 62.91% 71.37%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $3.711M $17.14M
YoY Change -16.49%
% of Gross Profit 18.29% 21.96%
Operating Expenses $24.68M $103.1M
YoY Change -18.01%
Operating Profit -$4.385M -$25.08M
YoY Change -60.26%
Interest Expense -$2.096M -$8.659M
YoY Change -201.21%
% of Operating Profit
Other Income/Expense, Net $477.0K $5.186M
YoY Change -184.13%
Pretax Income -$25.81M -$103.5M
YoY Change 88.77%
Income Tax $352.0K -$95.00K
% Of Pretax Income
Net Earnings -$26.16M -$103.4M
YoY Change 92.93%
Net Earnings / Revenue -57.83% -57.87%
Basic Earnings Per Share -$4.66
Diluted Earnings Per Share -$1.18 -$4.67
COMMON SHARES
Basic Shares Outstanding 23.82M shares 22.17M shares
Diluted Shares Outstanding 22.17M shares

Balance Sheet

Concept 2023 Q1 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $11.92M $11.92M
YoY Change -10.55%
Cash & Equivalents $11.92M
Short-Term Investments
Other Short-Term Assets $3.456M $3.456M
YoY Change 78.88%
Inventory $1.320M $1.320M
Prepaid Expenses $900.0K
Receivables $1.766M $1.766M
Other Receivables $0.00 $0.00
Total Short-Term Assets $18.46M $18.46M
YoY Change -1.97%
LONG-TERM ASSETS
Property, Plant & Equipment $65.45M $65.45M
YoY Change -21.96%
Goodwill $31.62M
YoY Change -67.81%
Intangibles $160.2M
YoY Change -3.84%
Long-Term Investments
YoY Change
Other Assets $1.044M $1.044M
YoY Change 39.01%
Total Long-Term Assets $258.3M $258.3M
YoY Change -26.08%
TOTAL ASSETS
Total Short-Term Assets $18.46M $18.46M
Total Long-Term Assets $258.3M $258.3M
Total Assets $276.8M $276.8M
YoY Change -24.84%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.464M $8.464M
YoY Change 7.7%
Accrued Expenses $20.51M $20.51M
YoY Change 197.55%
Deferred Revenue $84.00K
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $4.985M $4.985M
YoY Change 43.62%
Total Short-Term Liabilities $40.20M $40.20M
YoY Change 14.29%
LONG-TERM LIABILITIES
Long-Term Debt $53.79M $53.79M
YoY Change -17.68%
Other Long-Term Liabilities $51.20M $51.20M
YoY Change 2668.79%
Total Long-Term Liabilities $105.0M $105.0M
YoY Change 5578.15%
TOTAL LIABILITIES
Total Short-Term Liabilities $40.20M $40.20M
Total Long-Term Liabilities $105.0M $105.0M
Total Liabilities $146.4M $146.4M
YoY Change -27.58%
SHAREHOLDERS EQUITY
Retained Earnings -$227.2M
YoY Change 65.47%
Common Stock $306.1M
YoY Change 0.89%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $130.4M $130.4M
YoY Change
Total Liabilities & Shareholders Equity $276.8M $276.8M
YoY Change -24.84%

Cashflow Statement

Concept 2023 Q1 2023
OPERATING ACTIVITIES
Net Income -$26.16M -$103.4M
YoY Change 92.93%
Depreciation, Depletion And Amortization $3.711M $17.14M
YoY Change -16.49%
Cash From Operating Activities -$395.0K $2.168M
YoY Change -121.23%
INVESTING ACTIVITIES
Capital Expenditures $1.187M $2.517M
YoY Change 71.28%
Acquisitions
YoY Change
Other Investing Activities $60.00K $119.0K
YoY Change
Cash From Investing Activities -$1.127M -$1.549M
YoY Change 62.63%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -702.0K -$3.591M
YoY Change -74.32%
NET CHANGE
Cash From Operating Activities -395.0K $2.168M
Cash From Investing Activities -1.127M -$1.549M
Cash From Financing Activities -702.0K -$3.591M
Net Change In Cash -2.224M -$2.972M
YoY Change 42.02%
FREE CASH FLOW
Cash From Operating Activities -$395.0K $2.168M
Capital Expenditures $1.187M $2.517M
Free Cash Flow -$1.582M -$349.0K
YoY Change -235.45%

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3576000 usd
CY2021 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-4045000 usd
CY2023 us-gaap Increase Decrease In Other Deferred Liability
IncreaseDecreaseInOtherDeferredLiability
0 usd
CY2021 us-gaap Increase Decrease In Other Deferred Liability
IncreaseDecreaseInOtherDeferredLiability
871000 usd
CY2023 bfi Increase Decrease In Deferred Revenue And Other Liabilities
IncreaseDecreaseInDeferredRevenueAndOtherLiabilities
381000 usd
CY2021 bfi Increase Decrease In Deferred Revenue And Other Liabilities
IncreaseDecreaseInDeferredRevenueAndOtherLiabilities
454000 usd
CY2023 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
2168000 usd
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-7467000 usd
CY2023 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2517000 usd
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
10665000 usd
CY2023 bfi Proceeds From Business Acquisitions Cash Aquired
ProceedsFromBusinessAcquisitionsCashAquired
0 usd
CY2021 bfi Proceeds From Business Acquisitions Cash Aquired
ProceedsFromBusinessAcquisitionsCashAquired
5522000 usd
CY2023 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
1087000 usd
CY2021 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
80000 usd
CY2023 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
119000 usd
CY2021 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-48000 usd
CY2023 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1549000 usd
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-5015000 usd
CY2023 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
1500000 usd
CY2021 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
0 usd
CY2023 us-gaap Repayments Of Debt
RepaymentsOfDebt
3339000 usd
CY2021 us-gaap Repayments Of Debt
RepaymentsOfDebt
12168000 usd
CY2023 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
1089000 usd
CY2021 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
844000 usd
CY2023 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
486000 usd
CY2021 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0 usd
CY2023 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
177000 usd
CY2021 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
0 usd
CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-3591000 usd
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-13012000 usd
CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-2972000 usd
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-25494000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
14889000 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
40383000 usd
CY2023 us-gaap Interest Paid Net
InterestPaidNet
2884000 usd
CY2021 us-gaap Interest Paid Net
InterestPaidNet
551000 usd
CY2023 us-gaap Stock Issued1
StockIssued1
0 usd
CY2021 us-gaap Stock Issued1
StockIssued1
28965000 usd
CY2023 bfi Noncash Or Part Noncash Acquisition Value Of Equity Assumed
NoncashOrPartNoncashAcquisitionValueOfEquityAssumed
0 usd
CY2021 bfi Noncash Or Part Noncash Acquisition Value Of Equity Assumed
NoncashOrPartNoncashAcquisitionValueOfEquityAssumed
46906000 usd
CY2021 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
7000 usd
CY2023Q1 us-gaap Number Of Stores
NumberOfStores
174 store
CY2023Q1 bfi Number Of Brands
NumberOfBrands
2 brand
CY2023 us-gaap Fiscal Period
FiscalPeriod
On July 28, 2022, the Company's Board of Directors approved the change to a 52-53-week fiscal year ending on the Monday nearest to December 31 of each year in order to improve the alignment of financial and business processes following the acquisition of Anthony’s. With this change, the Company’s fiscal year 2022 ended on January 2, 2023. For the year ended December 31, 2021, the BurgerFi brand operated on a calendar year-end and Anthony's operated on a 52-53 week fiscal year ended on the Monday closest to December 31. Differences arising from the different fiscal year-ends were not deemed material for the year ended December 31, 2021.
CY2023 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Reclassifications</span></div><div style="text-align:justify"><span><br/></span></div><div><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Certain current year amounts primarily in restaurant level operating expenses, general and administrative expenses and brand development, co-op and advertising expense have been reclassified within the consolidated statements of operations and are not comparable to the year ended </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">December 31, 2021.</span></div>
CY2023 us-gaap Use Of Estimates
UseOfEstimates
Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingencies at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.
CY2023Q1 us-gaap Number Of Stores
NumberOfStores
174 store
CY2021Q4 bfi Number Of International Stores
NumberOfInternationalStores
1 store
CY2023Q1 us-gaap Time Sharing Transactions Allowance For Uncollectible Accounts
TimeSharingTransactionsAllowanceForUncollectibleAccounts
200000 usd
CY2023 bfi Other Income Loss Employee Retention Credits Third Party Preparation Fees
OtherIncomeLossEmployeeRetentionCreditsThirdPartyPreparationFees
2600000 usd
CY2023 bfi Other Income Loss Employee Retention Credits Third Party Collected Preparation Fees
OtherIncomeLossEmployeeRetentionCreditsThirdPartyCollectedPreparationFees
1400000 usd
CY2023Q1 bfi Other Receivables Employee Retention Credits Third Party Collected Preparation Fees
OtherReceivablesEmployeeRetentionCreditsThirdPartyCollectedPreparationFees
1500000 usd
CY2023 bfi Other Asset Impairment Losses
OtherAssetImpairmentLosses
6900000 usd
CY2023 bfi Asset Impairment Charges Excluding Goodwill
AssetImpairmentChargesExcludingGoodwill
3100000 usd
CY2023 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
3800000 usd
CY2021 bfi Other Asset Impairment Losses
OtherAssetImpairmentLosses
8300000 usd
CY2021 bfi Asset Impairment Charges Excluding Goodwill
AssetImpairmentChargesExcludingGoodwill
600000 usd
CY2023 us-gaap Professional Fees
ProfessionalFees
700000 usd
CY2023 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
66600000 usd
CY2020Q4 us-gaap Goodwill
Goodwill
119542000 usd
CY2021 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
80495000 usd
CY2021 us-gaap Goodwill Purchase Accounting Adjustments
GoodwillPurchaseAccountingAdjustments
4439000 usd
CY2021 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
106476000 usd
CY2021Q4 us-gaap Goodwill
Goodwill
98000000 usd
CY2023 us-gaap Goodwill Purchase Accounting Adjustments
GoodwillPurchaseAccountingAdjustments
190000 usd
CY2023 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
66569000 usd
CY2023Q1 us-gaap Goodwill
Goodwill
31621000 usd
CY2023 us-gaap Net Income Loss
NetIncomeLoss
-103432000 usd
CY2021 us-gaap Net Income Loss
NetIncomeLoss
-121494000 usd
CY2023 bfi Fair Value Adjustment Of Dilutive Warrants
FairValueAdjustmentOfDilutiveWarrants
0 usd
CY2021 bfi Fair Value Adjustment Of Dilutive Warrants
FairValueAdjustmentOfDilutiveWarrants
-12619000 usd
CY2023 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-103432000 usd
CY2021 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-134113000 usd
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
22173694 shares
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
18408247 shares
CY2023 bfi Incremental Common Shares Attributable To Dilutive Effect Of Restricted Stock Grants And Warrants
IncrementalCommonSharesAttributableToDilutiveEffectOfRestrictedStockGrantsAndWarrants
0 shares
CY2021 bfi Incremental Common Shares Attributable To Dilutive Effect Of Restricted Stock Grants And Warrants
IncrementalCommonSharesAttributableToDilutiveEffectOfRestrictedStockGrantsAndWarrants
211854 shares
CY2023 bfi Incremental Common Shares Attributable To Dilutive Effect Of Unit Purchase Option
IncrementalCommonSharesAttributableToDilutiveEffectOfUnitPurchaseOption
0 shares
CY2021 bfi Incremental Common Shares Attributable To Dilutive Effect Of Unit Purchase Option
IncrementalCommonSharesAttributableToDilutiveEffectOfUnitPurchaseOption
4346 shares
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
22173694 shares
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
18624447 shares
CY2023 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-4.66
CY2021 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-7.20
CY2023 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Concentration of Risk</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Management believes there is no concentration of risk with any single franchisee or small group of franchisees whose failure or nonperformance would materially affect the Company’s results of operations. </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company had no customers which accounted for 10% or more of consolidated revenue for the year ended January 2, 2023, or for the year ended December 31, 2021. As of January 2, 2023, the Company had two main in-line distributors of food, packaging and beverage products that provided approximately 80% of the Company's restaurants purchasing of those products in the U.S. We believe that the Company’s vulnerability to risk concentrations related to significant vendors and sources of its raw materials is mitigated as it believes that there are other vendors who would be able to service its requirements. However, if a disruption of service from any of its main in-line distributors was to occur, the Company could experience short-term increases in its costs while distribution channels were adjusted.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company's restaurants are principally located throughout the United States. The Company has corporate-owned and franchised locations in 23 states, with the largest number in Florida. We believe the risk of geographic concentration is not significant. The Company could be adversely affected by changing consumer preferences resulting from concerns over nutritional or safety aspects of ingredients it sells or the effects of food safety events or disease outbreaks. </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is subject to credit risk through its accounts receivable consisting primarily of amounts due from vendors for rebates, franchisees for royalties and franchise fees. This concentration of credit risk is mitigated, in part, by the number of franchisees and the short-term nature of the franchise receivables.</span></div>
CY2023Q1 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
23 state
CY2023 bfi Revenue Recognition Services Deposit To Open Additional Locations Percentage Of Total Franchise Fee
RevenueRecognitionServicesDepositToOpenAdditionalLocationsPercentageOfTotalFranchiseFee
0.50
CY2021Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
212000 usd
CY2021Q4 bfi Contract With Customer Gift Card Liability
ContractWithCustomerGiftCardLiability
2587000 usd
CY2021Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
468000 usd
CY2021Q4 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
2109000 usd
CY2020Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
3306000 usd
CY2021 bfi Contract With Customer Liability Initial Franchise Fees Received
ContractWithCustomerLiabilityInitialFranchiseFeesReceived
290000 usd
CY2021 bfi Contract With Customer Liability Revenue Recognized For Stores Opened During Period
ContractWithCustomerLiabilityRevenueRecognizedForStoresOpenedDuringPeriod
235000 usd
CY2021 bfi Contract With Customer Liability Revenue Recognized Related To Franchise Agreement Termination
ContractWithCustomerLiabilityRevenueRecognizedRelatedToFranchiseAgreementTermination
834000 usd
CY2021 bfi Contract With Customer Liability Other
ContractWithCustomerLiabilityOther
50000 usd
CY2021Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
2577000 usd
CY2021Q4 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
1100000 usd
CY2021 us-gaap Advertising Expense
AdvertisingExpense
900000 usd
CY2021 us-gaap Pre Opening Costs
PreOpeningCosts
1900000 usd
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
700000 usd
CY2021 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
7600000 usd
CY2023Q1 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Before Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetBeforeAccumulatedDepreciationAndAmortization
29407000 usd
CY2021Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Before Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetBeforeAccumulatedDepreciationAndAmortization
31563000 usd
CY2023Q1 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization
10036000 usd
CY2021Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization
2528000 usd
CY2023Q1 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
19371000 usd
CY2021Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
29035000 usd
CY2023 us-gaap Depreciation
Depreciation
8700000 usd
CY2021 us-gaap Depreciation
Depreciation
2500000 usd
CY2023 bfi Asset Impairment Charges Excluding Goodwill
AssetImpairmentChargesExcludingGoodwill
3100000 usd
CY2021 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
600000 usd
CY2023 bfi Impairment Long Lived Asset Held For Use Statement Of Income Or Comprehensive Income Extensible Enumeration Not Disclosed Flag
ImpairmentLongLivedAssetHeldForUseStatementOfIncomeOrComprehensiveIncomeExtensibleEnumerationNotDisclosedFlag
property & equipment
CY2021 bfi Impairment Long Lived Asset Held For Use Statement Of Income Or Comprehensive Income Extensible Enumeration Not Disclosed Flag
ImpairmentLongLivedAssetHeldForUseStatementOfIncomeOrComprehensiveIncomeExtensibleEnumerationNotDisclosedFlag
property & equipment
CY2023Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
176554000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
16346000 usd
CY2023Q1 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
160208000 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
176578000 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
7855000 usd
CY2021Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
168723000 usd
CY2021 us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
7700000 usd
CY2023 us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
0 usd
CY2023 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
8500000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
8467000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
8353000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
8353000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
8353000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
8204000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
111800000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
153530000 usd
CY2023Q1 us-gaap Business Acquisition Cost Of Acquired Entity Transaction Costs
BusinessAcquisitionCostOfAcquiredEntityTransactionCosts
3100000 usd
CY2023Q1 bfi Business Acquisition Financing Costs
BusinessAcquisitionFinancingCosts
800000 usd
CY2021 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
168906000 usd
CY2021 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-138490000 usd
CY2023 us-gaap Asset Impairment Charges
AssetImpairmentCharges
73500000 usd
CY2021 us-gaap Asset Impairment Charges
AssetImpairmentCharges
114800000 usd
CY2023 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
66569000 usd
CY2021 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
106476000 usd
CY2023 us-gaap Impairment Of Intangible Assets Indefinitelived Excluding Goodwill
ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill
0 usd
CY2021 us-gaap Impairment Of Intangible Assets Indefinitelived Excluding Goodwill
ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill
7706000 usd
CY2023 us-gaap Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
3100000 usd
CY2021 us-gaap Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
615000 usd
CY2023 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
3846000 usd
CY2021 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
0 usd
CY2023 us-gaap Asset Impairment Charges
AssetImpairmentCharges
73515000 usd
CY2021 us-gaap Asset Impairment Charges
AssetImpairmentCharges
114797000 usd
CY2023 us-gaap Other Asset Impairment Charges
OtherAssetImpairmentCharges
6900000 usd
CY2023Q1 us-gaap Due From Related Parties
DueFromRelatedParties
300000 usd
CY2021Q4 us-gaap Due From Related Parties
DueFromRelatedParties
0 usd
CY2021Q2 bfi Annual Cash Compensation And Expense Reimbursements
AnnualCashCompensationAndExpenseReimbursements
100000 usd
CY2023Q1 us-gaap Purchase Obligation Due In Next Twelve Months
PurchaseObligationDueInNextTwelveMonths
3100000 usd
CY2023Q1 us-gaap Mandatorily Redeemable Preferred Stock Fair Value Disclosure
MandatorilyRedeemablePreferredStockFairValueDisclosure
51400000 usd
CY2021Q4 us-gaap Mandatorily Redeemable Preferred Stock Fair Value Disclosure
MandatorilyRedeemablePreferredStockFairValueDisclosure
47500000 usd
CY2023 bfi Fair Value Adjustment Of Mandatorily Redeemable Preferred Stock Interest Expense
FairValueAdjustmentOfMandatorilyRedeemablePreferredStockInterestExpense
3900000 usd
CY2021 bfi Fair Value Adjustment Of Mandatorily Redeemable Preferred Stock Interest Expense
FairValueAdjustmentOfMandatorilyRedeemablePreferredStockInterestExpense
600000 usd
CY2023Q1 us-gaap Notes Payable
NotesPayable
780000 usd
CY2021Q4 us-gaap Notes Payable
NotesPayable
874000 usd
CY2023Q1 us-gaap Finance Lease Liability
FinanceLeaseLiability
933000 usd
CY2021Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
0 usd
CY2023Q1 bfi Long Term Debt And Lease Obligations
LongTermDebtAndLeaseObligations
70220000 usd
CY2021Q4 bfi Long Term Debt And Lease Obligations
LongTermDebtAndLeaseObligations
71135000 usd
CY2023Q1 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
765000 usd
CY2021Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
1276000 usd
CY2023Q1 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
1441000 usd
CY2021Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
1007000 usd
CY2023Q1 us-gaap Long Term Debt
LongTermDebt
68014000 usd
CY2021Q4 us-gaap Long Term Debt
LongTermDebt
68852000 usd
CY2023Q1 bfi Debt And Lease Obligations Current Maturities
DebtAndLeaseObligationsCurrentMaturities
4985000 usd
CY2021Q4 bfi Debt And Lease Obligations Current Maturities
DebtAndLeaseObligationsCurrentMaturities
3331000 usd
CY2023Q1 bfi Long Term Debt And Related Party Debt Noncurrent
LongTermDebtAndRelatedPartyDebtNoncurrent
63029000 usd
CY2021Q4 bfi Long Term Debt And Related Party Debt Noncurrent
LongTermDebtAndRelatedPartyDebtNoncurrent
65521000 usd
CY2023Q1 bfi Notes Payable Monthly Payment
NotesPayableMonthlyPayment
9000 usd
CY2023 bfi Operating Lease Base Rent Cost
OperatingLeaseBaseRentCost
16200000 usd
CY2021 bfi Operating Lease Base Rent Cost
OperatingLeaseBaseRentCost
5200000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
13442000 usd
CY2023Q1 us-gaap Finance Lease Liability Payments Due After Year Five
FinanceLeaseLiabilityPaymentsDueAfterYearFive
253000 usd
CY2023Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
45741000 usd
CY2023Q1 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
852000 usd
CY2023Q1 bfi Lease Right Of Use Asset
LeaseRightOfUseAsset
46593000 usd
CY2023Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
9924000 usd
CY2023Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
40748000 usd
CY2023Q1 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
150000 usd
CY2023Q1 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
783000 usd
CY2023Q1 bfi Lease Liability
LeaseLiability
51604000 usd
CY2023 us-gaap Operating Lease Cost
OperatingLeaseCost
12969000 usd
CY2023 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
3846000 usd
CY2023 us-gaap Finance Lease Right Of Use Asset Amortization
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