What was the total number of Benihana shares at the balance on January 1, 2021?
Benihana Franchise · 2024 FDDAnswer from 2024 FDD Document
| For the year ended December 31, | ||||
|---|---|---|---|---|
| 2022 | 2021 | |||
| Revenues: | ||||
| Owned restaurant net revenue | $ | 300,859 | $ | 264,404 |
| Management, license and incentive fee revenue | 15,779 | 12,774 | ||
| Total revenues | 316,638 | 277,178 | ||
| Cost and expenses: | ||||
| Owned operating expenses: | ||||
| Owned restaurant cost of sales | 75,365 | 67,468 | ||
| Owned restaurant operating expenses | 174,689 | 144,529 | ||
| Total owned operating expenses | 250,054 | 211,997 | ||
| General and administrative (including stock-based compensation of $3,985 and | ||||
| $3,618 for the years ended December 31, 2022 and 2021, respectively) | 29,081 | 25,573 | ||
| Depreciation and amortization | 12,134 | 10,790 | ||
| COVID-19 related expenses | 2,534 | 5,821 | ||
| Transaction costs | 123 | 160 | ||
| Lease termination expenses | 257 | 1,912 | ||
| Agreement restructuring expenses | — | 503 | ||
| Pre-opening expenses | 5,519 | 1,037 | ||
| Write-off of trademark costs and other | 630 | — | ||
| Total costs and expenses | 300,332 | 257,793 | ||
| Operating income | 16,306 | 19,385 | ||
| Other expenses (income), net: | ||||
| Interest expense, net of interest income | 2,113 | 3,780 | ||
| Loss on early debt extinguishment | — | 600 | ||
| Gain on CARES Act Loan Forgiveness | — | (18,529) | ||
| Total other expenses (income), net | 2,113 | (14,149) | ||
| Income before provision for income taxes | 14,193 | 33,534 | ||
| Provision for income taxes | 874 | 1,586 | ||
| Net income | 13,319 | 31,948 | ||
| Less: net (loss) income attributable to noncontrolling interest | (215) | 600 | ||
| Net income attributable to The ONE Group Hospitality, Inc. | $ | 13,534 | $ | 31,348 |
| Currency translation (loss) gain | (224) | 1 | ||
| Comprehensive income attributable to The One Group Hospitality, Inc. | $ | 13,310 | $ | 31,349 |
| Net income attributable to The ONE Group Hospitality, Inc. per share: | ||||
| Basic net income per share | $ | 0.42 | $ | 1.01 |
| Diluted net income per share | $ | 0.40 | $ | 0.93 |
| Shares used in computing basic income per share | 32,400,515 | 31,155,224 | ||
| Shares used in computing diluted income per share | 33,871,797 | 33,794,344 | ||
**THE ONE GROUP HOSPITALITY, INC. CONSOL
Source: Item 22 — CONTRACTS (FDD pages 73–74)
What This Means (2024 FDD)
According to Benihana's 2024 Franchise Disclosure Document, the total number of shares at the balance on January 1, 2021, was 29,083,183. The par value was $3. The additional paid-in capital was $46,538. The retained earnings were $(20,716). The accumulated other comprehensive loss was $(2,646). The total stockholders' equity was $23,179. The noncontrolling interests were $(1,200). The total equity was $21,979.
For a prospective Benihana franchisee, understanding the share structure and equity is crucial for assessing the financial health and stability of the franchisor. The number of shares outstanding can influence decisions related to dividends, stock splits, and potential acquisitions. Monitoring these figures over time, as presented in the FDD, can provide insights into the company's capital management strategies.
Furthermore, the changes in equity components such as retained earnings and paid-in capital reflect the profitability and investment activities of Benihana. A consistent increase in retained earnings typically indicates strong financial performance, while fluctuations in paid-in capital may signal new equity issuances or stock repurchases. Reviewing these trends helps potential franchisees evaluate the financial risks and opportunities associated with investing in a Benihana franchise.
It is important to note that while the FDD provides historical data, future performance may vary. Prospective franchisees should consult with financial advisors and conduct thorough due diligence to assess the current financial condition of Benihana and its potential impact on their investment.