v3.25.3
BUSINESS SEGMENTS
 12 Months Ended
Sep. 28, 2025
Segment Reporting [Abstract]  
BUSINESS SEGMENTS

NOTE 12. BUSINESS SEGMENTS

 

The Company identifies our operating segments to be the individual parks: Georgia Park, Missouri Park and Texas Park and operates in three reportable segments.

 

Management reviews operating results, evaluates performance and makes operating decisions, including allocating resources, on a park-by-park basis. Discrete financial information and operating results are prepared at the individual park level for use by the President and Chief Executive Officer, who is the Chief Operating Decision Maker (“CODM”) of the Company. The CODM uses segment operating income/(loss), defined as park earnings before interest, taxes, depreciation and amortization, and free cash flow as the reportable segment profitability measure to assess performance and allocate resources.

 

Significant segment expenses are expenses which are regularly provided to the CODM and are included in segment operating income/(loss). These consist of segment cost of animal food, merchandise and food, other revenue driven costs, personnel costs, advertising and marketing and all other segment expenses. Segment cost of sales includes cost of animal feed and cost of gift shop merchandise, food and concessions. Other revenue driven costs include credit card fees and other revenue processing fees. Personnel costs include fixed and variable wages, benefits costs and employer payroll taxes. Other segment expenses include animal expenses, park and vehicle maintenance, insurance, utilities, outside services, operating supplies and other miscellaneous expenses. The Company does not allocate corporate expenses to our segments.

 

The following tables set forth, for the periods indicated, certain segment information the Company’s reportable segments:

 

   Georgia Park   Missouri Park   Texas Park   Total 
   Fiscal Year Ended September 28, 2025 
   Georgia Park   Missouri Park   Texas Park   Consolidated 
Total revenue  $5,917,423   $2,189,656   $2,364,496   $10,471,575 
Less significant expense categories (1):                    
Cost of animal food, merchandise and food   789,293    232,363    304,204    1,325,860 
Other revenue driven costs (2)   115,195    43,081    47,492    205,768 
Personnel costs (3)   1,377,831    726,050    688,096    2,791,977 
Advertising and marketing   301,687    240,204    333,429    875,320 
Other segment expenses (4)   1,077,753    372,367    453,578    1,903,698 
Segment income  $2,255,664   $575,591   $537,697   $3,368,952 
Segment operating income as percentage of total revenue   38.1%   26.3%   22.7%   32.2%

 

   Georgia Park   Missouri Park   Texas Park   Total 
   Fiscal Year Ended September 29, 2024 
   Georgia Park   Missouri Park   Texas Park   Consolidated 
Total revenue  $5,960,259   $2,036,280   $1,915,721   $9,912,260 
Less significant expense categories (1):                    
Cost of animal food, merchandise and food   747,473    276,729    388,476    1,412,678 
Other revenue driven costs (2)   158,815    46,632    46,729    252,176 
Personnel costs (3)   1,328,979    659,088    653,428    2,641,495 
Advertising and marketing   340,586    225,087    310,304    875,977 
Other segment expenses (4)   1,089,527    371,525    443,863    1,904,915 
Segment income  $2,294,879   $457,219   $72,921   $2,825,019 
Segment operating income as percentage of total revenue   38.5%   22.5%   3.8%   28.5%

 

(1)The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.
(2)Other revenue driven costs include credit card fees and other revenue processing costs driven by sales volume.
(3)Personnel costs include fixed and variable wages, benefits and employer taxes.
(4)Other segment expenses include all other operating expenses, including animal expenses, park and vehicle maintenance, insurance, utilities, outside services, operating supplies and other miscellaneous expenses.

 

 

PARKS! AMERICA, INC. and SUBSIDIARIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

September 28, 2025 and September 29, 2024

 

NOTE 12. BUSINESS SEGMENTS (CONTINUED) 

 

The table below sets forth, for the periods indicated, a reconciliation of reporting consolidated segment income to Income before income taxes:

 

 SCHEDULE OF RECONCILIATION OF REPORTING SEGMENT INCOME TO INCOME BEFORE INCOME TAXES

   September 28, 2025   September 29, 2024 
   Fiscal Years Ended 
   September 28, 2025   September 29, 2024 
Consolidated segment income  $3,368,952   $2,825,019 
Less:          
Unallocated corporate expenses (1)   1,063,397    1,211,764 
Depreciation and amortization   885,996    871,967 
Contested proxy and related matters, net   (670,814)   2,040,810 
Tornado expenses and write-offs, net   —    (53,755)
Legal settlement   —    75,000 
Other operating expenses, net   29,296    62,734 
Other (income), net   (78,573)   (132,948)
Interest expense   219,341    229,244 
Income (loss) before income taxes  $1,920,309   $(1,479,797)

 

(1) Unallocated corporate expenses include corporate personnel costs, director fees and compensation, directors and officers insurance, computer software and services, professional fees and public company related expenses.

 

Additional Segment Data

 

   September 28, 2025   September 29, 2024 
   Fiscal Years Ended 
   September 28, 2025   September 29, 2024 
Depreciation and amortization:          
Georgia Park  $396,987   $357,522 
Missouri Park   218,429    231,734 
Texas Park   268,923    281,055 
Corporate   1,657    1,656 
Total depreciation and amortization  $885,996   $871,967 

 

   September 28, 2025   September 29, 2024 
   Fiscal Years Ended 
   September 28, 2025   September 29, 2024 
Capital expenditures:          
Georgia Park  $1,038,800   $593,515 
Missouri Park   116,538    100,428 
Texas Park   121,484    213,012 
Total capital expenditures  $1,276,822   $906,955 

 

   September 28, 2025   September 29, 2024 
   As of 
   September 28, 2025   September 29, 2024 
Total assets:          
Georgia Park  $8,043,972   $7,520,918 
Missouri Park   3,299,882    3,399,324 
Texas Park   8,135,982    7,812,661 
Corporate   19,606    461,168 
Total assets  $19,499,442   $19,194,071