v3.26.1
Discontinued Operations (Tables)
 6 Months Ended
Jun. 27, 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 EndedSix Months Ended
(in thousands)June 27, 2026June 28, 2025June 27, 2026June 28, 2025
Net revenue:
Company-operated store sales$— $8,432 $— $101,840 
Supply and other revenue— — — 165 
Total net revenue— 8,432 — 102,005 
Operating Expenses:
Company-operated store expenses— 8,167 — 83,918 
Supply and other expenses— 345 — 704 
Selling, general, and administrative expenses— 1,825 — 29,913 
Depreciation and amortization— 23 — 2,226 
Total operating expenses— 10,360 — 116,761 
Operating loss— (1,928)— (14,756)
Other expenses, net:
Interest expense, net— 2 — 7 
Loss before taxes from discontinued operations— (1,930)— (14,763)
Income tax expense— 2,785 — 25 
Net loss from discontinued operations$— $(4,715)$— $(14,788)
The cash flows related to discontinued operations have not been segregated and are included within the statements of cash flows. The following table presents cash flow and non-cash information related to the U.S. Car Wash business:
Six Months Ended
(in thousands)June 27, 2026June 28, 2025
As Restated
Depreciation and amortization— 2,226 
Capital expenditures— 4,657 
Loss on sale or disposal of fixed assets— 7,634 
Asset impairment— 476 
The following table summarizes the results of operations of the ICW business that are being reported as discontinued operations within the consolidated statements of operations:
Three Months EndedSix Months Ended
(in thousands)June 27, 2026June 28, 2025June 27, 2026June 28, 2025
Net revenue:
Independently-operated store sales$— $71,791 $15,315 $138,431 
Supply and other revenue— 1,579 3902,965 
Total net revenue— 73,370 15,705 141,396 
Operating Expenses:
Independently-operated store expenses— 38,063 9,766 74,550 
Supply and other expenses— 1,003 215 1,918 
Selling, general, and administrative expenses— 11,155 3,069 19,349 
Depreciation and amortization— 16,185 — 29,415 
Total operating expenses— 66,406 13,050 125,232 
Operating income— 6,964 2,655 16,164 
Other expenses, net:
Interest expense, net— 124 37 264 
Income before taxes from discontinued operations— 6,840 2,618 15,900 
Income tax expense— 3,461 905 6,030 
Net income from discontinued operations$— $3,379 $1,713 $9,870 
The following tables summarizes the ICW business assets and liabilities classified as discontinued operations within the consolidated balance sheets:
(in thousands)June 27, 2026December 27, 2025
Assets
Current assets:
Cash and cash equivalents$— $29,744 
Accounts and notes receivable, net— 5,386 
Inventory— 10,048 
Prepaid and other assets— 15,273 
Income tax receivable— 1,542 
Total current assets of discontinued operations— 61,993 
Property and equipment, net— 309,440 
Operating lease right-of-use assets— 121,901 
Intangibles, net— 34,205 
Goodwill— 204,442 
Deferred tax assets— 1,502 
Total assets of discontinued operations$— $733,483 
Liabilities
Current liabilities:
Accounts payable$— $10,047 
Accrued expenses and other liabilities— 43,675 
Income tax payable — 19,954 
Current portion of long-term debt— 119 
Total current liabilities of discontinued operations— 73,795 
Deferred tax liabilities— 44,479 
Operating lease liabilities— 101,909 
Long-term accrued expenses and other liabilities— 19,231 
Total liabilities of discontinued operations$— $239,414 
The cash flows related to discontinued operations have not been segregated and are included within the statements of cash flows. The following table presents cash flow and non-cash information related to the ICW business:
Six Months Ended
(in thousands)June 27, 2026June 28, 2025
Depreciation and amortization$— $29,415 
Capital expenditures614 13,430 
Loss (gain) on sale or disposal of fixed assets192 (199)
Asset impairment— 133