Driven Brands Holdings Inc.: Form 10-Q for the period ended Mar 30, 2024
Filed with the SEC on May 8, 2024 and accepted by EDGAR at May 8, 2024, 16:04 ET.
Market risk
As filed, 280 characters, with its headings, lists and tables. Extracted from the main document; charts and exhibits are in the original on sec.gov.
Refer to the Company’s annual report for the year ended December 30, 2023 for a complete discussion of the Company’s market risk. There have been no material changes in the Company’s market risk from those disclosed in the Company’s Form 10-K for the year ended December 30, 2023.
Controls and procedures
As filed, 2,030 characters, with its headings, lists and tables. Extracted from the main document; charts and exhibits are in the original on sec.gov.
Evaluation of Disclosure Controls and Procedures
Our management, with the participation of our CEO and CFO, has evaluated the design effectiveness of our disclosure controls and procedures (as defined in Rules 13a- 15(e) and 15d- 15(e) under the Exchange Act), as of March 30, 2024. The term “disclosure controls and procedures,” means controls and other procedures of a company that are designed to ensure that information required to be disclosed by a company in the reports that it files or submits under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the Securities and Exchange Commission’s rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by a company in the reports that it files or submits under the Exchange Act is accumulated and communicated to the company’s management, including its principal executive and principal financial officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure. Management recognizes that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving their objectives and management necessarily applies its judgment in evaluating the cost-benefit relationship of possible controls and procedures. Based on evaluation of the design of our disclosure controls and procedures as of March 30, 2024, our CEO and CFO have concluded that as of such date, our disclosure controls and procedures were designed effectively and will provide a reasonable level of assurance.
Changes in Internal Control over Financial Reporting
There were no changes in our internal control over financial reporting that occurred during the most recently completed quarter ended March 30, 2024 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.
Risk factors
As filed, 286 characters, with its headings, lists and tables. Extracted from the main document; charts and exhibits are in the original on sec.gov.
For a discussion of risk factors that could adversely affect our results of operations, financial condition, business reputation or business prospects, we refer you to Part I, Item 1A "Risk Factors" included in our Annual Report on Form 10-K for the fiscal year ended December 30, 2023.
Figures reported in this filing
Standardized line items from the XBRL in this filing, for the period ended 2024-03-30. Comparative periods it repeats are left out.
| Line item | Period | Value | XBRL concept |
|---|---|---|---|
| Revenue | 3 months2023-12-31 to 2024-03-30 | $572.2m | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax |
| Selling, general and administrative | 3 months2023-12-31 to 2024-03-30 | $116.4m | us-gaap:SellingGeneralAndAdministrativeExpense |
| Operating income | 3 months2023-12-31 to 2024-03-30 | $58.5m | us-gaap:OperatingIncomeLoss |
| Interest expense | 3 months2023-12-31 to 2024-03-30 | $43.8m | us-gaap:InterestExpense |
| Income tax | 3 months2023-12-31 to 2024-03-30 | $6.2m | us-gaap:IncomeTaxExpenseBenefit |
| Net income | 3 months2023-12-31 to 2024-03-30 | $4.3m | us-gaap:NetIncomeLoss |
| Diluted EPS | 3 months2023-12-31 to 2024-03-30 | $0.03 | us-gaap:EarningsPerShareDiluted |
| Basic EPS | 3 months2023-12-31 to 2024-03-30 | $0.03 | us-gaap:EarningsPerShareBasic |
| Diluted shares (weighted) | 3 months2023-12-31 to 2024-03-30 | 160,604,000 shares | us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding |
| Operating cash flow | 3 months2023-12-31 to 2024-03-30 | $60.3m | us-gaap:NetCashProvidedByUsedInOperatingActivities |
| Capital expenditure | 3 months2023-12-31 to 2024-03-30 | $89.5m | us-gaap:PaymentsToAcquireProductiveAssets |
| Cash and equivalents | At period end2024-03-30 | $165.5m | us-gaap:CashAndCashEquivalentsAtCarryingValue |
| Current assets | At period end2024-03-30 | $815.8m | us-gaap:AssetsCurrent |
| Total assets | At period end2024-03-30 | $5.89bn | us-gaap:Assets |
| Current liabilities | At period end2024-03-30 | $439.1m | us-gaap:LiabilitiesCurrent |
| Total liabilities | At period end2024-03-30 | $4.98bn | us-gaap:Liabilities |
| Long-term debt | At period end2024-03-30 | $2.91bn | us-gaap:LongTermDebtNoncurrent |
| Current portion of debt | At period end2024-03-30 | $33.0m | us-gaap:LongTermDebtCurrent |
| Shareholders' equity | At period end2024-03-30 | $906.2m | us-gaap:StockholdersEquity |
Source: SEC EDGAR, the filing index for accession 0001804745-24-000015. Last ingested by Listed: Nov 11, 2026, 04:58 ET. Listed shows no prices and gives no investment advice.