What was the total equity for Benihana at the balance on December 31, 2021?
Benihana Franchise · 2024 FDDAnswer from 2024 FDD Document
f directors, the Company's public statements, operating plans, and industry data to identify any evidence that may contradict management's assumptions
- We tested the completeness and accuracy of the underlying source information used by management to identify quantitative indicators of impairment.
/s/ Deloitte & Touche LLP
Denver, Colorado March 9, 2023
We have served as the Company's auditor since 2021.
F-3
THE ONE GROUP HOSPITALITY, INC. CONSOLIDATED BALANCE SHEETS (in thousands, except share information)
| December 31, 2022 | December 31, 2021 | ||
|---|---|---|---|
| ASSETS | |||
| Current assets: | |||
| Cash and cash equivalents | $ 55,121 | $ | 23,614 |
| Accounts receivable | 15,220 | 11,356 | |
| Inventory | 5,728 | 3,915 | |
| Other current assets | 2,091 | 3,666 | |
| Due from related parties | 376 | 376 | |
| Total current assets | 78,536 | 42,927 | |
| Property and equipment, net | 94,087 | 69,638 | |
| Operating lease right-of-use assets | 85,161 | 85,395 | |
| Deferred tax assets, net | 12,323 | 12,313 | |
| Intangibles, net | 15,290 | 15,505 | |
| Other assets | 4,774 | 3,199 | |
| Security deposits | 853 | 858 | |
| Total assets | $ 291,024 | $ | 229,835 |
| LIABILITIES AND STOCKHOLDERS' EQUITY | |||
| Current liabilities: | |||
| Accounts payable | $ 13,055 | $ | 11,094 |
| Accrued expenses | 22,409 | 23,155 | |
| Deferred gift card revenue and other | 2,115 | 2,029 | |
| Current portion of operating lease liabilities | 6,336 | 5,396 | |
| Current portion of long-term debt | 1,500 | 500 | |
| Other current liabilities | 256 | 90 | |
| Total current liabilities | 45,671 | 42,264 | |
| Operating lease liabilities, net of current portion | 105,247 | 103,616 | |
| Long-term debt, net of current portion | 70,544 | 23,132 | |
| Other long-term liabilities | 972 | 298 | |
| Total liabilities | 222,434 | 169,310 | |
| Commitments and contingencies (Note 15) | |||
| Stockholders' equity: | |||
| Common stock, $0.0001 par value, 75,000,000 shares authorized; 32,829,995 issued | |||
| and 31,735,423 outstanding at December 31, 2022 and 32,138,396 shares issued and | |||
| 32,125,762 outstanding at December 31, 2021 | 3 | 3 | |
| Preferred stock, $0.0001 par value, 10,000,000 shares authorized; no shares issued | |||
| and outsta |
Source: Item 22 — CONTRACTS (FDD pages 73–74)
What This Means (2024 FDD)
According to Benihana's 2024 Franchise Disclosure Document, the total equity for Benihana at the balance sheet date of December 31, 2021, was $60,525.
This figure represents the net worth of Benihana, calculated by subtracting total liabilities from total assets. It includes components such as common stock, treasury stock, additional paid-in capital, retained earnings, and accumulated other comprehensive loss. For potential franchisees, this number provides a snapshot of the company's financial stability and overall financial health at that specific point in time.
The total equity can be an important indicator of Benihana's ability to meet its financial obligations and invest in future growth. A higher equity amount generally suggests a stronger financial position. However, it is essential to consider this figure in conjunction with other financial metrics and industry benchmarks to gain a comprehensive understanding of Benihana's financial performance and stability.