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Investment Partnerships (Tables)
 6 Months Ended
Jun. 30, 2025
Equity Method Investments and Joint Ventures [Abstract]  
Schedule of Fair Value and Carrying Value of our Partnership Interest
The fair value and adjustment for Company common stock held by the investment partnerships to determine the carrying value of our partnership interest are presented below.
 Fair ValueCompany
Common Stock		Carrying Value
Partnership interest at December 31, 2024$656,266 $454,539 $201,727 
Investment partnership gains (losses)68,515 59,603 8,912 
Distributions (net of contributions)(4,935)(4,935)
Changes in proportionate share of Company stock held2,811 (2,811)
Partnership interest at June 30, 2025$719,846 $516,953 $202,893 
 Fair ValueCompany
Common Stock		Carrying Value
Partnership interest at December 31, 2023$472,772 $273,669 $199,103 
Investment partnership gains (losses)(12,645)45,260 (57,905)
Contributions (net of distributions)21,924 21,924 
Changes in proportionate share of Company stock held4,391 (4,391)
Partnership interest at June 30, 2024$482,051 $323,320 $158,731 
Schedule of Carrying Value of Investment Partnerships Net of Deferred Taxes
The carrying value of the investment partnerships net of deferred taxes is presented below.
 June 30,
2025		December 31, 2024
Carrying value of investment partnerships$202,893 $201,727 
Deferred tax liability related to investment partnerships(30,030)(17,255)
Carrying value of investment partnerships net of deferred taxes$172,863 $184,472 
Schedule of Gains (Losses) from Investment Partnerships
Gains/losses from investment partnerships recorded in the Company’s consolidated statements of earnings are presented below.
 Second QuarterFirst Six Months
 2025202420252024
Gains (losses) from investment partnerships$58,504 $(79,890)$8,912 $(57,905)
Tax expense (benefit)12,310 (19,142)2,144 (14,305)
Contribution to net earnings (loss)$46,194 $(60,748)$6,768 $(43,600)
Schedule of Equity Method Investments
Summarized financial information for The Lion Fund, L.P. and The Lion Fund II, L.P. is presented below.
 Equity in Investment Partnerships
 Lion FundLion Fund II
Total assets as of June 30, 2025$623,894 $365,151 
Total liabilities as of June 30, 2025$15,173 $178,988 
Revenue for the first six months of 2025$58,537 $23,257 
Earnings for the first six months of 2025$57,970 $18,396 
Biglari Holdings’ ownership interest as of June 30, 202591.6 %87.8 %
Total assets as of December 31, 2024$567,387 $367,630 
Total liabilities as of December 31, 2024$20,609 $188,202 
Revenue for the first six months of 2024$33,316 $(42,355)
Earnings for the first six months of 2024$32,417 $(48,207)
Biglari Holdings’ ownership interest as of June 30, 202490.2 %87.3 %