v3.26.1
BUSINESS SEGMENTS
 6 Months Ended
Mar. 29, 2026
Segment Reporting [Abstract]  
BUSINESS SEGMENTS

NOTE 10. BUSINESS SEGMENTS

 

The Company identifies our operating segments to be the individual parks: Georgia Park, Missouri Park and Texas Park and operates in three reportable segments.

 

Management reviews operating results, evaluates performance and makes operating decisions, including allocating resources, on a park-by-park basis. Discrete financial information and operating results are prepared at the individual park level for use by the President and Chief Executive Officer, who is the Chief Operating Decision Maker (“CODM”) of the Company. The CODM uses segment operating income/(loss), defined as park earnings before interest, taxes, depreciation and amortization, and free cash flow as the reportable segment profitability measure to assess performance and allocate resources.

 

Significant segment expenses are expenses which are regularly provided to the CODM and are included in segment operating income/(loss). These consist of segment cost of animal food, merchandise and food, other revenue driven costs, personnel costs, advertising and marketing and all other segment expenses. Segment cost of sales includes cost of animal feed and cost of gift shop merchandise, food and concessions. Other revenue driven costs include credit card fees and other revenue processing fees. Personnel costs include fixed and variable wages, benefits costs and employer payroll taxes. Other segment expenses include animal expenses, park and vehicle maintenance expenses, insurance, utilities, outside services, operating supplies and other miscellaneous expenses. The Company does not allocate corporate expenses to our segments.

 

The following tables set forth, for the periods indicated, certain segment information for the Company’s reportable segments:

 

   Georgia Park  

Missouri Park

   Texas Park   Consolidated 
   For the 13 weeks ended March 29, 2026 
   Georgia Park  

Missouri Park

   Texas Park   Consolidated 
Total revenue  $1,142,532   $472,678   $681,137   $2,296,347 
Less significant expense categories (1):                    
Cost of animal food, merchandise and food    143,708    51,119    104,808    299,635 
Other revenue driven costs (2)   29,037    16,599    20,857    66,493 
Personnel costs (3)   344,018    205,964    157,568    707,550 
Advertising and marketing   90,727    63,875    84,235    238,837 
Other segment expenses (4)   279,996    104,089    105,423    489,508 
Segment income  $255,046   $31,032   $208,246   $494,324 
Segment operating income as percentage of total revenue   22.3%   6.6%   30.6%   21.5%

 

   Georgia Park  

Missouri Park

   Texas Park   Consolidated 
   For the 13 weeks ended March 30, 2025 
   Georgia Park  

Missouri Park

   Texas Park   Consolidated 
Total revenue  $1,046,387   $374,328   $581,306   $2,002,021 
Less significant expense categories (1):                    
 Cost of animal food, merchandise and food    185,739    39,826    89,434    314,999 
 Other revenue driven costs (2)   21,242    7,747    12,557    41,546 
 Personnel costs (3)   314,525    161,295    190,049    665,869 
 Advertising and marketing   85,786    53,921    95,572    235,279 
 Other segment expenses (4)   290,553    104,733    126,621    521,907 
Segment income  $148,542   $6,806   $67,073   $222,421 
Segment operating income as percentage of total revenue   14.2%   1.8%   11.5%   11.1%

 

(1) The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.
(2) Other revenue driven costs include credit card fees and other revenue processing costs driven by sales volume.
(3) Personnel costs include fixed and variable wages, benefits and employer taxes.
(4) Other segment expenses include all other operating expenses, including animal expenses, park and vehicle maintenance expenses, insurance, utilities, outside services, operating supplies and other miscellaneous expenses.

 

 

PARKS! AMERICA, INC. and SUBSIDIARIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

 

NOTE 10. BUSINESS SEGMENTS (CONTINUED)

 

   Georgia Park  

Missouri Park

   Texas Park   Consolidated 
   For the 26 weeks ended March 29, 2026 
   Georgia Park  

Missouri Park

   Texas Park   Consolidated 
Total revenue  $2,325,161   $830,229   $1,234,355   $4,389,745 
Less significant expense categories (1):                    
Cost of animal food, merchandise and food    299,802    91,199    184,609    575,610 
Other revenue driven costs (2)   52,382    23,815    32,445    108,642 
Personnel costs (3)   686,458    389,673    304,716    1,380,847 
Advertising and marketing   182,574    128,485    170,728    481,787 
Other segment expenses (4)   537,046    199,347    204,415    940,808 
Segment income (loss)  $566,899   $(2,290)  $337,442   $902,051 
Segment operating income (loss) as percentage of total revenue   24.4%   -0.3%   27.3%   20.5%

 

   Georgia Park  

Missouri Park

   Texas Park   Consolidated 
   For the 26 weeks ended March 30, 2025 
   Georgia Park  

Missouri Park

   Texas Park   Consolidated 
Total revenue  $2,157,105   $664,089   $951,285   $3,772,479 
Less significant expense categories (1):                    
Cost of animal food, merchandise and food    316,982    84,033    165,646    566,661 
Other revenue driven costs (2)   42,246    12,910    19,413    74,569 
Personnel costs (3)   619,554    328,021    358,772    1,306,347 
Advertising and marketing   126,235    86,023    146,917    359,175 
Other segment expenses (4)   569,600    195,524    245,463    1,010,587 
Segment income (loss)  $482,488   $(42,422)  $15,074   $455,140 
Segment operating income (loss) as percentage of total revenue   22.4%   -6.4%   1.6%   12.1%

 

(1) The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.
(2) Other revenue driven costs include credit card fees and other revenue processing costs driven by sales volume.
(3) Personnel costs include fixed and variable wages, benefits and employer taxes.
(4) Other segment expenses include all other operating expenses, including animal expenses, park and vehicle maintenance expenses, insurance, utilities, outside services, operating supplies and other miscellaneous expenses.

 

The table below sets forth, for the periods indicated, a reconciliation of reporting Consolidated segment income to Income (loss) before income taxes:

 

 SCHEDULE OF RECONCILIATION OF REPORTING SEGMENT INCOME TO INCOME BEFORE INCOME TAXES

   March 29, 2026   March 30, 2025   March 29, 2026   March 30, 2025 
   For the 13 weeks ended   For the 26 weeks ended 
   March 29, 2026   March 30, 2025   March 29, 2026   March 30, 2025 
Consolidated segment income  $494,324   $222,421   $902,051   $455,140 
Less:                    
Unallocated corporate expenses (1)   219,845    301,482    438,165    571,834 
Depreciation and amortization   216,171    220,315    427,252    428,863 
Other operating (income), net   (1,008)   —    (3,799)   (52)
Contested proxy and related matters, net   —    —    —    (567,157)
Other (income), net   (19,803)   (25,323)   (41,877)   (38,705)
Interest expense   45,859    54,709    94,611    112,178 
Income (loss) before income taxes  $33,260   $(328,762)  $(12,301)  $(51,821)

 

(1) Unallocated corporate expenses include corporate personnel costs, director fees and compensation, directors and officers insurance, computer software and services, professional fees and public company related expenses.

 

 

PARKS! AMERICA, INC. and SUBSIDIARIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) 

 

NOTE 10. BUSINESS SEGMENTS (CONTINUED)

 

Additional Segment Data

 

   March 29, 2026   March 30, 2025   March 29, 2026   March 30, 2025 
   For the 13 weeks ended   For the 26 weeks ended 
   March 29, 2026   March 30, 2025   March 29, 2026   March 30, 2025 
Depreciation and amortization                    
Georgia Park  $106,885   $98,832   $209,605   $188,248 
Missouri Park   50,972    54,303    101,142    108,081 
Texas Park   57,899    66,766    115,675    131,706 
Corporate   415    414    830    828 
Total depreciation and amortization  $216,171   $220,315   $427,252   $428,863 

 

   March 29, 2026   March 30, 2025   March 29, 2026   March 30, 2025 
   For the 13 weeks ended   For the 26 weeks ended 
   March 29, 2026   March 30, 2025   March 29, 2026   March 30, 2025 
Capital expenditures                    
Georgia Park  $82,677   $443,018   $339,388   $938,794 
Missouri Park   24,900    25,623    47,084    33,523 
Texas Park   19,403    16,268    45,361    114,068 
Total capital expenditures  $126,980   $484,909   $431,833   $1,086,385 

 

   March 29, 2026   September 28, 2025 
   As of 
   March 29, 2026   September 28, 2025 
Assets          
Georgia Park  $7,533,202   $8,043,972 
Missouri Park   3,264,987    3,299,882 
Texas Park   8,267,816    8,135,982 
Corporate   149,734    19,606 
Total assets  $19,215,739   $19,499,442