Item 2. Properties
Item 2. Properties
Restaurant Properties
As of December 31, 2021, restaurant operations included 577 company-operated and franchise locations. Restaurant operations own the land and building for 157 restaurants; they also own 10 other properties. The following table lists the locations of the restaurants, as of December 31, 2021.
Steak n Shake Western Sizzlin
Company
Operated Franchise
Partner Traditional
Franchise Company
Operated Franchise Total
Domestic:
Alabama — 2 6 — 6 14
Arizona — — 1 — — 1
Arkansas — — 5 — 8 13
California — — 2 — — 2
Colorado 1 — 1 — — 2
Delaware — — 1 — — 1
Florida 23 54 6 — — 83
Georgia 11 10 12 — 4 37
Illinois 36 19 10 — — 65
Indiana 43 17 2 — — 62
Iowa 2 1 1 — — 4
Kansas — — 4 — — 4
Kentucky 6 6 9 — — 21
Louisiana — — 2 — — 2
Maryland — — 1 — 1 2
Michigan 15 3 — — — 18
Mississippi — — 7 — 1 8
Missouri 13 9 22 — — 44
Nebraska — — 1 — — 1
Nevada — — 6 — — 6
North Carolina 1 5 3 — 6 15
Ohio 32 18 2 — 1 53
Oklahoma — — 2 — 2 4
Pennsylvania 5 — 1 — — 6
South Carolina — 1 2 — 2 5
Tennessee 2 6 14 — 3 25
Texas 5 8 14 — 1 28
Virginia — — 3 2 3 8
Washington DC — — 1 — — 1
West Virginia — — 2 1 — 3
International:
France 2 — 31 — — 33
Monaco 1 — — — — 1
Portugal — — 4 — — 4
Spain 1 — — — — 1
Total 199 159 178 3 38 577
As of December 31, 2021, 42 of the 199 Steak n Shake company-operated stores were closed. The Company intends to refranchise the majority of its 42 closed stores.
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Other Properties
Southern Oil primarily operates oil and natural gas wells in Louisiana. Its operations are primarily offshore in the shallow waters of the Gulf of Mexico.
First Guard owns the land and building of its office in Venice, Florida. Southern Pioneer owns the land and building of its office in Jonesboro, Arkansas.
The Company owns Steak n Shake’s office building in Indianapolis, Indiana, along with two other undeveloped properties in other states.
Item 3. Legal Proceedings
Refer to Commitments and Contingencies - Note 14 to the Consolidated Financial Statements included in Item 8 for a discussion of legal proceedings.
Item 4. Mine Safety Disclosures
Not applicable.
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Part II
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.