v3.26.1
Discontinued Operations (Tables)
 3 Months Ended
Mar. 28, 2026
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of Discontinued Operations
The following table summarizes the results of operations of the U.S. Car Wash business that are being reported as discontinued operations within the consolidated statements of operations:
Three Months Ended
(in thousands)March 28, 2026March 29, 2025
As Restated
Net revenue:
Company-operated store sales$— $93,408 
Supply and other revenue— 165 
Total net revenue— 93,573 
Operating Expenses:
Company-operated store expenses— 75,751 
Supply and other expenses— 359 
Selling, general, and administrative expenses— 28,088 
Depreciation and amortization— 2,203 
Total operating expenses— 106,401 
Operating loss— (12,828)
Other expenses, net:
Interest expense, net— 5 
Loss before taxes from discontinued operations— (12,833)
Income tax benefit— (2,760)
Net loss from discontinued operations$— $(10,073)
The cash flows related to discontinued operations have not been segregated and are included within the statements of cash flows. The following table presents cash flow and non-cash information related to the U.S. Car Wash business:
Three Months Ended
(in thousands)March 28, 2026March 29, 2025
As Restated
Depreciation and amortization$— $2,203 
Capital expenditures— 4,657 
Loss on sale or disposal of assets— 7,535 
Asset impairment— 476 
The following table summarizes the results of operations of the ICW business that are being reported as discontinued operations within the consolidated statements of operations:
Three Months Ended
(in thousands)March 28, 2026March 29, 2025
Net revenue:
Independently-operated store sales$15,315 $66,640 
Supply and other revenue3901,386 
Total net revenue15,705 68,026 
Operating Expenses:
Independently-operated store expenses9,766 36,487 
Supply and other expenses215 915 
Selling, general, and administrative expenses3,069 8,194 
Depreciation and amortization— 13,230 
Total operating expenses13,050 58,826 
Operating income2,655 9,200 
Other expenses, net:
Interest expense, net37 140 
Income before taxes from discontinued operations2,618 9,060 
Income tax expense905 2,569 
Net income from discontinued operations$1,713 $6,491 
The following tables summarizes the ICW business assets and liabilities classified as discontinued operations within the consolidated balance sheets:
(in thousands)March 28, 2026December 27, 2025
Assets
Current assets:
Cash and cash equivalents$— $29,744 
Accounts and notes receivable, net— 5,386 
Inventory— 10,048 
Prepaid and other assets— 15,273 
Income tax receivable— 1,542 
Total current assets of discontinued operations— 61,993 
Property and equipment, net— 309,440 
Operating lease right-of-use assets— 121,901 
Intangibles, net— 34,205 
Goodwill— 204,442 
Deferred tax assets— 1,502 
Total assets of discontinued operations$— $733,483 
Liabilities
Current liabilities:
Accounts payable$— $10,047 
Accrued expenses and other liabilities— 43,675 
Income tax payable — 19,954 
Current portion of long-term debt— 119 
Total current liabilities of discontinued operations— 73,795 
Deferred tax liabilities— 44,479 
Operating lease liabilities— 101,909 
Long-term accrued expenses and other liabilities— 19,231 
Total liabilities of discontinued operations$— $239,414 
The cash flows related to discontinued operations have not been segregated and are included within the statements of cash flows. The following table presents cash flow and non-cash information related to the ICW business:
Three Months Ended
(in thousands)March 28, 2026March 29, 2025
Depreciation and amortization$— $13,230 
Capital expenditures614 8,185 
Loss (gain) on sale or disposal of fixed assets192 (306)
Asset impairment— 65