v3.24.1.u1
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
CURRENT ASSETS:    
Cash and cash equivalents and restricted cash $ 13,184 $ 10,438
Accounts and tenant improvement receivables 14,447 14,183
Inventory 8,510 8,733
Prepaid expenses 6,246 8,565
Total current assets 42,387 41,919
Property and equipment, net 306,106 295,793
Operating lease assets 194,852 193,825
Goodwill 394,298 394,298
Trade names 223,925 223,925
Other intangible assets, net 28,189 28,911
Equity method investment 16,641 16,684
Deferred tax assets 203,615 184,701
Other assets 6,877 5,485
Total other assets 873,545 854,004
TOTAL ASSETS 1,416,890 1,385,541
CURRENT LIABILITIES:    
Accounts payable 29,323 33,189
Current portion of long-term debt 7,500 7,500
Current portion of Tax Receivable Agreement liability 7,191 4,428
Short-term debt 32,000 15,000
Current deferred revenue 5,193 7,180
Short-term operating lease liability 5,773 5,577
Accrued expenses 29,895 32,039
Total current liabilities 116,875 104,913
LONG-TERM LIABILITIES:    
Long-term debt, net of current portion 282,239 283,923
Tax Receivable Agreement liability 321,328 295,390
Long-term operating lease liability 241,433 238,414
Other long-term liabilities 2,670 2,791
Total long-term liabilities 847,670 820,518
Total liabilities 964,545 925,431
COMMITMENTS AND CONTINGENCIES (NOTE 14)
STOCKHOLDERS' EQUITY:    
Preferred stock, $0.01 par value per share, 10,000,000 shares authorized, none issued or outstanding 0 0
Additional paid-in-capital 341,750 308,212
Retained earnings 18,174 13,612
Total stockholders' equity attributable to Portillo's Inc. 360,539 322,379
Non-controlling interest 91,806 137,731
Total stockholders' equity 452,345 460,110
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY 1,416,890 1,385,541
Class A Common Stock    
STOCKHOLDERS' EQUITY:    
Common stock 615 555
Class B Common Stock    
STOCKHOLDERS' EQUITY:    
Common stock $ 0 $ 0