Annual report pursuant to Section 13 and 15(d)

Segment Information

v3.22.1
Segment Information
 12 Months Ended
Dec. 31, 2021
Segment Reporting [Abstract]  
Segment Information Segment Information
Prior to the Anthony's acquisition in November 2021, the Company had one operating and reportable segment. As such, segment information is presented for the year ended December 31, 2021, but not prior periods as all information in prior periods relates to the BurgerFi brand. Following the Anthony's acquisition, the Company has two operating and reportable segments:

•BurgerFi, which includes our operations of corporate-owned and franchised BurgerFi restaurants, which offer a fast-casual “better burger” concept; and

•Anthony's, which includes our operations of casual dining pizza restaurants under the name Anthony’s Coal Fired Pizza & Wings.

The CODMs are the CEO, CFO, and Executive Chairman as they assess the performance of the reportable segments and make all the significant strategic decisions, including the allocation of resources.

External sales are derived principally from food and beverage sales, royalty and franchise revenue. We do not rely on any major customers as a source of sales, and the customers and long-lived assets of our reportable segments are predominantly in the U.S. There were no material transactions among reportable segments.

The following tables present revenue, capital expenditures, depreciation and amortization, pre-opening costs, interest expense, and net (loss) income by segment:
(in thousands) Year Ended
December 31, 2021 *
Revenue:
BurgerFi $ 46,448 
Anthony's 22,419 
Total $ 68,867 
Capital expenditures:
BurgerFi $ 10,348 
Anthony's 317 
Total $ 10,665 
Depreciation and amortization:
BurgerFi $ 8,694 
Anthony's 1,366 
Total $ 10,060 
Pre-opening costs:
BurgerFi $ 1,905 
Anthony's — 
Total $ 1,905 
Interest expense:
BurgerFi $ 673 
Anthony's 733 
Total $ 1,406 
Net (loss) income:
BurgerFi $ (121,352)
Anthony's (142)
Total $ (121,494)
* Amounts for Anthony's are only presented from November 3, 2021, the date of acquisition.

Total assets by segment are as follows:

(in thousands) Year Ended
December 31, 2021 *		 Year Ended
December 31, 2020
Total assets:
BurgerFi $ 161,675  $ 289,116 
Anthony's 156,044  N/A
Total $ 317,719  $ 289,116 
* Amounts for Anthony's are only presented from November 3, 2021, the date of acquisition.