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CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
CURRENT ASSETS:    
Cash and cash equivalents and restricted cash $ 12,357 $ 10,438
Accounts and tenant improvement receivables 15,326 14,183
Inventory 8,755 8,733
Prepaid expenses 5,507 8,565
Total current assets 41,945 41,919
Property and equipment, net 314,617 295,793
Operating lease assets 213,757 193,825
Goodwill 394,298 394,298
Trade names 223,925 223,925
Other intangible assets, net 27,467 28,911
Equity method investment 15,940 16,684
Deferred tax assets 200,119 184,701
Other assets 6,850 5,485
Total other assets 868,599 854,004
TOTAL ASSETS 1,438,918 1,385,541
CURRENT LIABILITIES:    
Accounts payable 37,584 33,189
Current portion of long-term debt 9,375 7,500
Current portion of Tax Receivable Agreement liability 7,230 4,428
Short-term debt 17,000 15,000
Deferred revenue 4,712 7,180
Short-term operating lease liability 5,791 5,577
Accrued expenses 27,573 32,039
Total current liabilities 109,265 104,913
LONG-TERM LIABILITIES:    
Long-term debt, net of current portion 278,679 283,923
Tax Receivable Agreement liability 320,849 295,390
Long-term operating lease liability 263,229 238,414
Other long-term liabilities 2,774 2,791
Total long-term liabilities 865,531 820,518
Total liabilities 974,796 925,431
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 344,937 308,212
Retained earnings 24,644 13,612
Total stockholders' equity attributable to Portillo's Inc. 370,198 322,379
Non-controlling interest 93,924 137,731
Total stockholders' equity 464,122 460,110
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY 1,438,918 1,385,541
Class A Common Stock    
STOCKHOLDERS' EQUITY:    
Common stock 617 555
Class B Common Stock    
STOCKHOLDERS' EQUITY:    
Common stock $ 0 $ 0