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138734000 6119000 5030000 220923000 109283000 237130000 79588000 161228000 0 96297000 3503000 0 3153000 8000 680000 934384000 339971000 0.00001 0.00001 20000000 20000000 20000000 0 0 0 0 0 0.00001 0.00001 400000000 400000000 45544000 45544000 34433000 34433000 1000 0 0.00001 0.00001 144000000 144000000 64699000 64699000 64699000 64699000 1000 1000 0.00001 0.00001 105000000 105000000 41056000 41056000 49006000 49006000 0 1000 0.00001 0.00001 42000000 42000000 12411000 12411000 15441000 15441000 0 0 145613000 107193000 813000 0 -17310000 -12679000 129118000 94516000 122858000 119213000 251976000 213729000 1186360000 553700000 639710000 403746000 244514000 99302000 94130000 82899000 739012000 497876000 327413000 558096000 344573000 211478000 183528000 264529000 104935000 741624000 609102000 316413000 -2612000 -111226000 11000000 -18018000 -7093000 -3736000 3976000 -1240000 -363000 -14042000 -8333000 -4099000 -16654000 -119559000 6901000 2599000 -1628000 843000 -19253000 -117931000 6058000 0 -67374000 6058000 -14500000 -37878000 0 -4753000 -12679000 0 -0.09 -0.28 -0.09 -0.28 51871000 45864000 51871000 45864000 -19253000 -117931000 6058000 273000 0 0 2908000 0 0 -16345000 -117931000 6058000 0 -67374000 6058000 -12405000 -37878000 0 -3940000 -12679000 0 34433000 0 64699000 1000 49006000 1000 15441000 0 107193000 0 -12679000 119213000 213729000 122000 301000 423000 -4753000 -14500000 -19253000 273000 -17000 813000 2095000 2891000 13743000 27914000 41657000 131000 -1145000 -2755000 -3900000 16429000 16429000 9410000 -9410000 0 10980000 -1000 7950000 1000 3030000 0 45544000 1000 64699000 1000 41056000 0 12411000 0 145613000 813000 -17310000 122858000 251976000 77487000 0 0 0 0 0 0 0 0 0 0 0 77487000 -67374000 -67374000 76596000 76596000 213308000 213308000 78579000 78579000 48020000 9877000 0 71408000 1000 54068000 1000 17036000 0 -195936000 0 147914000 0 24211000 520804000 520804000 6709000 5062000 239421000 13849000 253270000 46446000 46446000 -12679000 -37878000 -50557000 12663000 31390000 44053000 345000 -3258000 -8075000 -11333000 289000 -289000 0 1595000 34394000 34394000 0 34433000 0 64699000 1000 49006000 1000 15441000 0 107193000 -12679000 119213000 213729000 937721000 -858542000 79179000 7750000 7750000 598051000 -598051000 0 6058000 6058000 1535772000 -1458285000 77487000 -19253000 -117931000 6058000 44728000 25217000 15537000 691000 280000 98000 340000 -657000 -475000 0 -1286000 0 41657000 157716000 35087000 -1078000 2663000 0 -3466000 0 0 9919000 0 0 1322000 -193000 4218000 15817000 7668000 4587000 695000 3761000 1284000 -1147000 -13000 573000 1606000 2154000 -518000 5601000 7927000 2194000 1376000 4955000 584000 3367000 11706000 4419000 0 412000 343000 -672000 -118000 -66000 -9722000 0 0 59883000 80375000 53549000 187880000 118444000 40575000 1359000 2742000 99000 6051000 5387000 5094000 -192572000 -121089000 -45570000 157705000 65000000 30000000 10000000 15000000 15000000 5838000 2653000 1195000 1484000 0 1375000 200000000 5250000 1982000 227594000 3228000 2749000 2406000 0 0 0 10000000 0 0 10000000 0 524858000 0 0 213308000 7750000 0 287664000 0 250000 3804000 0 3900000 11333000 0 134361000 27580000 8077000 1672000 -13134000 16056000 18506000 31640000 15584000 20178000 18506000 31640000 17613000 7350000 3829000 1316000 886000 338000 0 35169000 31291000 6731000 6452000 3518000 0 250000 0 100000000 0 0 <div style="margin-bottom:9pt"><span style="color:#00416b;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:120%">NOTE 1 — Organization and Background</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Business</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Dutch Bros is in the business of operating and franchising drive-thru coffee shops as well as the wholesale and distribution of coffee, coffee-related products and accessories. As of December 31, 2022, there were 671 shops in operation in 14 U.S. states, of which 396 were company-operated and 275 were franchised.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Organization</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Dutch Bros Inc. was formed on June 4, 2021 as a Delaware corporation for the purpose of facilitating an IPO and other related transactions in order to carry on the business of Dutch Bros OpCo. The Company is the sole managing member of Dutch Bros OpCo and operates and controls all of the business and affairs of Dutch Bros OpCo. As a result, the Company consolidates the financial results of Dutch Bros OpCo and reports a non-controlling interest representing the economic interest in Dutch Bros OpCo held by the other members of Dutch Bros OpCo. The Company’s fiscal year end is December 31.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of December 31, 2022, the Company held 100.0% of the voting interest and 35.4% of the economic interest of Dutch Bros OpCo. The Continuing Members held none of the voting interest and the remaining 64.6% of the economic interest of Dutch Bros OpCo.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Initial Public Offering</span></div><div style="text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On September 17, 2021, the Company completed its IPO of approximately 24.2 million shares of Class A common stock at a public offering price of $23.00 per share, which included approximately 3.2 million shares issued pursuant to the exercise in full of the underwriters’ option to purchase additional shares. The Company received proceeds of approximately $520.8 million, net of offering costs. The proceeds were used to purchase approximately 10.9 million newly-issued Dutch Bros OpCo Class A common units from Dutch Bros OpCo for approximately $234.4 million. The proceeds were also used to purchase approximately 11.7 million Dutch Bros OpCo Class A common units from the Continuing Members for approximately $253.3 million, and approximately 1.6 million shares of Class D common stock from the Pre-IPO Blocker Holders for approximately $34.4 million.</span></div><div><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Reorganization Transactions </span></div><div style="text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In connection with the IPO, the Company completed the following Reorganization Transactions:</span></div><div style="text-align:justify"><span><br/></span></div><div style="margin-bottom:9pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Amended and restated the Second Dutch Bros OpCo Agreement to, among other things, effect a recapitalization in which (i) the outstanding Common Units were converted into Dutch Bros OpCo Class A common units paired with an equal number of either Class B voting units or Class C voting units, and (ii) the outstanding Profits Interest (PI) Units were converted into Dutch Bros OpCo Class A common units. </span></div><div style="margin-bottom:9pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Amended and restated the Company’s certificate of incorporation to, among other things, authorize four classes of common stock. </span></div><div style="margin-bottom:9pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Acquired Dutch Bros OpCo Class A common units and Class C voting units held by certain pre-IPO Dutch Bros OpCo Unitholders in exchange for shares of Class D common stock.</span></div><div style="margin-bottom:9pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Contribution of Dutch Bros OpCo Class A common units, Class B voting units, and Class C voting units to the Company in exchange for Class A common stock, Class B common stock, and Class C common stock, respectively.</span></div><div style="margin-bottom:9pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">The Company’s designation as managing member of the Dutch Bros OpCo.</span></div><div style="margin-bottom:9pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Entered into a Reorganization Tax Receivable Agreement with the Pre-IPO Blocker Holders and an Exchange Tax Receivable Agreement with the Continuing Members (collectively, the Tax Receivable Agreements or the TRAs), which provide for payment by Dutch Bros PubCo to the Continuing Members and the Pre-IPO Blocker Holders of 85% of the benefits, if any, that Dutch Bros PubCo would be deemed to realize (calculated using certain assumptions) as a result of certain tax attributes and benefits covered by the TRAs. For additional information, see NOTE 12 — Tax Receivable Agreements to the consolidated financial statements.</span></div> 671 14 396 275 1.000 0.354 0 0.646 24200000 23.00 3200000 520800000 10900000 234400000 11700000 253300000 1600000 34400000 4 0.85 <div style="margin-bottom:9pt"><span style="color:#00416b;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:120%">NOTE 2 — Basis of Presentation and Summary of Significant Accounting Policies</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Financial Statements Presentation</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company’s consolidated financial statements as of December 31, 2022 and 2021 and for the years ended December 31, 2022, 2021, and 2020 have been prepared in accordance with GAAP and pursuant to the rules and regulations of the SEC. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Immaterial Correction of Previously Issued Consolidated Financial Statements</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Subsequent to the issuance of the Company’s 2021 consolidated financial statements, management of the Company identified an error in application of Accounting Standards Codification (ASC) 710, </span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Compensation-General</span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, related to accrued sick leave pay. ASC 710-10-25-7 states that an employer is not required to accrue a liability for nonvesting accumulating rights to receive sick pay benefits. Historically, the Company accrued sick leave pay expense for each employee. As unused sick leave pay does not carry forward and is not paid out upon termination, the accrued liability should not have been recorded. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company has evaluated the effects of the corrections detailed in the table below on the previously issued consolidated financial statements, individually and in the aggregate, in accordance with the guidance in ASC 250, </span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Accounting Changes and Error Corrections. </span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company has concluded such corrections to be immaterial to its previously issued consolidated financial statements.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">While management believes the effect of the error is immaterial to the Company’s previously issued consolidated financial statements as of December 31, 2021, and for the years ended December 31, 2021 and 2020, the financial statement line items impacted by this error have been corrected.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The tables below reflect the sections of the Company’s consolidated financial statements that were impacted by the immaterial error.</span></div><div><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Consolidated Balance Sheet:</span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:48.900%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.925%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.925%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.927%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="15" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">December 31, 2021</span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">As Reported</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Adjustments</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">As Corrected</span></td></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Current liabilities:</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Accrued liabilities</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">24,513 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(3,543)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">20,970 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total current liabilities</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">142,277 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(3,543)</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">138,734 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total liabilities</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">343,514 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(3,543)</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">339,971 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr style="height:14pt"><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Stockholders’ equity:</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additional paid in capital</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">106,410 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">783 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">107,193 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Accumulated deficit</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(12,914)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">235 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(12,679)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total stockholders’ equity attributable to Dutch Bros Inc. / members’ equity</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">93,498 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,018 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">94,516 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Non-controlling interests</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">116,688 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,525 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">119,213 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total equity</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">210,186 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">3,543 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">213,729 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table></div><div style="margin-bottom:9pt"><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Consolidated Statements of Operations:</span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:48.900%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.925%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.925%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.927%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Year Ended December 31, 2021</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">As Reported</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Adjustments</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">As Corrected</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Costs and expenses</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Cost of sales</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">346,113 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(1,540)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">344,573 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Selling, general and administrative</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">265,035 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(506)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">264,529 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total costs and expenses</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">611,148 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(2,046)</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">609,102 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Loss from operations</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(113,272)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,046 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(111,226)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Loss before income taxes</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(121,605)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,046 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(119,559)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net loss</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(119,977)</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,046 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(117,931)</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:48.900%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.925%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.925%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.927%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Year Ended December 31, 2020</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">As Reported</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Adjustments</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">As Corrected</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Costs and expenses</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Cost of sales</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">211,659 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(181)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">211,478 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Selling, general and administrative</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">105,087 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(152)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">104,935 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total costs and expenses</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">316,746 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(333)</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">316,413 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Income from operations</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">10,667 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">333 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">11,000 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Income before income taxes</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">6,568 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">333 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">6,901 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net income</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">5,725 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">333 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">6,058 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt"><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Consolidated Statements of Changes in Stockholders’/Members’ Equity:</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:48.900%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.925%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.925%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.927%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Year Ended December 31, 2021</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">As Reported</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Adjustments</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">As Corrected</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Members' Equity</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Balance, December 31, 2020</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">75,990 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,497 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">77,487 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net loss prior to the Reorganization Transactions</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(68,602)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,228 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(67,374)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Effect of the Reorganization Transactions and initial public offering on non-controlling interests</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">50,745 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(2,725)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">48,020 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr style="height:12pt"><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Additional Paid-in-Capital</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Effect of the Reorganization Transactions and initial public offering on non-controlling interests</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(196,515)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">579 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(195,936)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Purchase of OpCo Units in connection with the initial public offering</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(239,622)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">201 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(239,421)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Effect of exchange of Dutch Bros OpCo Class A common units</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">285 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">4 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">289 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Balance, December 31, 2021</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">106,409 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">784 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">107,193 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr style="height:12pt"><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Accumulated Deficit</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net loss subsequent to the Reorganization Transactions</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(12,914)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">235 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(12,679)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Balance, December 31, 2021</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(12,914)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">235 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(12,679)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr style="height:12pt"><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Non-Controlling Interests</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Effect of the Reorganization Transactions and initial public offering on non-controlling interests</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">145,768 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,146 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">147,914 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Purchase of OpCo Units in connection with the initial public offering</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(13,648)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(201)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(13,849)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net loss subsequent to the Reorganization Transactions</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(38,461)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">583 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(37,878)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Effect of exchange of Dutch Bros OpCo Class A common units</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(285)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(4)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(289)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Balance, December 31, 2021</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">116,689 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,524 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">119,213 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr style="height:12pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Total Equity</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Balance, December 31, 2020</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">75,990 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,497 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">77,487 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net loss prior to the Reorganization Transactions</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(68,602)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,228 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(67,374)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net loss subsequent to the Reorganization Transactions</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(51,375)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">818 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(50,557)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Balance, December 31, 2021</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">210,186 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">3,543 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">213,729 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:48.900%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.925%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.925%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.927%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Year Ended December 31, 2020</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">As Reported</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Adjustments</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">As Corrected</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Permanent equity: members’ deficit</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Balance, December 31, 2019</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(859,706)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,164 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(858,542)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net income</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">5,725 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">333 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">6,058 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Balance, December 31, 2020</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(1,459,782)</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,497 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(1,458,285)</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt"><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Consolidated Statements of Cash Flows:</span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:48.900%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.925%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.925%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.927%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Year Ended December 31, 2021</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">As Reported</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Adjustments</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">As Corrected</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Cash flows from operating activities:</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net loss</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(119,977)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,046 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(117,931)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Changes in operating assets and liabilities, net of acquisitions:</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Accrued expenses</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">9,973 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(2,046)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">7,927 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:48.900%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.925%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.925%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.927%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Year Ended December 31, 2020</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">As Reported</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Adjustments</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">As Corrected</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Cash flows from operating activities:</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net income</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">5,725 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">333 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">6,058 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Changes in operating assets and liabilities, net of acquisitions:</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Accrued expenses</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,527 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(333)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,194 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table></div>Significant Accounting Policies<div><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Principles of Consolidation</span></div><div><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The consolidated financial statements include the accounts of the Company and its subsidiaries that it controls due to ownership of a majority voting interest or pursuant to accounting guidance for non-controlling interests. All intercompany transactions and balances have been eliminated in consolidation.</span></div><div style="margin-bottom:9pt"><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Use of Estimates</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The presentation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions, primarily related to long-lived asset valuation, leases, deferred revenue, tax receivable agreements, income taxes, and equity-based compensation that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. Although management bases its estimates on historical experience and assumptions that are believed to be reasonable under the circumstances, actual results could differ from those estimates.</span></div><div style="margin-bottom:9pt"><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Reclassifications</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company has reclassified certain amounts in prior-period consolidated financial statements to conform to the current period's presentation. </span></div>•NOTE 5 — Inventories: components of inventory related to our Blue Rebel energy drink have been reclassified from finished goods to raw materials.<div style="margin-bottom:9pt"><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Cash and Cash Equivalents</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Cash and cash equivalents include all short-term highly liquid instruments with original maturities of three months or less at the time of purchase, as well as credit card receivables for sales to customers in company-operated shops that generally settle within two to five business days. The Company’s cash accounts are maintained at various high credit quality financial institutions and may exceed federally insured limits. The Company has not experienced any losses in such accounts.</span></div><div style="margin-bottom:9pt"><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Fair Value Measurements</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company applies fair value accounting for all financial assets and liabilities and non-financial assets and liabilities that are recognized or disclosed at fair value in the consolidated financial statements on a recurring basis. The Company categorizes assets and liabilities, based on the priority of the inputs to the valuation technique, into a three-level fair value hierarchy as set forth below. The three levels of the hierarchy are defined as follows:</span></div><div style="margin-bottom:9pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Level 1</span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> – Unadjusted quoted prices in active markets for identical assets or liabilities.</span></div><div style="margin-bottom:9pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Level 2</span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> – Observable inputs other than quoted prices in active markets for identical assets or liabilities, quoted prices for identical assets or liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.</span></div><div style="margin-bottom:9pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Level 3</span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> – Inputs that are both unobservable and significant to the overall fair value measurements reflecting an entity's estimates of assumptions that market participants would use in pricing the asset or liability.</span></div>The Company’s consolidated balance sheets include cash and cash equivalents, accounts receivable, prepaid expenses and other current assets, accounts payable, accrued expenses and other current liabilities, for which the carrying amounts approximate fair value due to their short-term maturity. The fair value of the Company’s variable-rate credit facilities approximate their carrying amounts as the Company’s cost of borrowing is variable and approximates current market prices, which is considered Level 2 in the fair value hierarchy.<div style="margin-bottom:9pt"><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Derivative Instruments</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company manages exposure to fluctuations in interest rates within its consolidated financial statements according to a hedging policy. Under this policy, the Company may engage in interest rate swap agreements to hedge interest rate risk. A swap agreement is a contract between two parties to exchange cash flows based on specified underlying notional amounts, assets and/or indices. The Company does not enter into derivative instruments for speculative purposes.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">By using swap instruments, the Company is exposed to potential credit risk. Credit risk is the failure of the counterparty to perform under the terms of the derivative contract. The Company minimizes this credit risk by entering into transactions with carefully selected, credit-worthy counterparties.</span></div><div><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Cash Flow Hedges</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Cash flow hedges related to anticipated transactions are designated and documented at the inception of each hedge. Cash flows from hedging transactions are classified in the same categories as the cash flows from the respective hedged items.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For derivative instruments that are designated and qualify as a cash flow hedge, the derivative's gain or loss is reported as a component of other comprehensive income (OCI) and recorded in accumulated other comprehensive income (AOCI) on the Company’s consolidated balance sheets. The gain or loss is subsequently reclassified into net earnings when the hedged exposure affects net earnings, in the same line item as the underlying hedged item on the Company’s consolidated statements of operations.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company discontinues hedge accounting when: </span></div><div style="margin-bottom:9pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">it determines that the cash flow derivative is no longer effective in offsetting changes in the cash flows of a hedged item; </span></div><div style="margin-bottom:9pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">the derivative expires or is sold, terminated or exercised; </span></div><div style="margin-bottom:9pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">it is no longer probable that the forecasted transaction will occur; or </span></div><div style="margin-bottom:9pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">management determines that designation of the derivatives as a hedge instrument is no longer appropriate.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Refer to NOTE 11 — Derivative Financial Instruments for further discussion of the Company’s derivative instruments.</span></div><div style="margin-bottom:9pt"><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Accounts Receivable</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Accounts receivable, net of allowance for doubtful accounts, consist primarily of royalty revenues, outstanding balances for sales of roasted coffee beans, other retail-related supplies to franchisees, and vendor rebates. The allowance for doubtful accounts is estimated based on the Company’s historical losses, review of specific accounts, existing economic conditions in the industry, and the financial stability of its customers. Accounts receivable are charged off against the allowance for doubtful accounts when they are determined by management to be uncollectible. The Company had no allowance for doubtful accounts at December 31, 2022 and 2021.</span></div><div style="margin-bottom:9pt"><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Inventories</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Inventories, net consist primarily of roasted and unroasted coffee beans, Blue Rebel, accessories, and other retail related supplies. Inventories are stated at the lower of cost or net realizable value, with cost being determined by the standard cost method which approximates actual cost on a first-in, first-out basis. The Company records product returns as they are received, and obsolete and slow-moving inventory when identified, as these types of transactions have generally been immaterial to the Company’s historical operations. </span></div><div style="margin-bottom:9pt"><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Property and Equipment</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Property and equipment, net are stated at historical cost less accumulated depreciation. Expenditures for maintenance, repairs, and routine replacements are charged to expense as incurred. Expenditures for major repairs and improvements that extend the useful lives of property and equipment are capitalized. When property or equipment is sold or otherwise disposed of, the asset and related accumulated depreciation are removed from the balance sheet and any gain or loss is included in income (loss) from operations in the accompany consolidated statements of operations. Depreciation is computed on a straight-line basis over the following useful lives:</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:75.342%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:21.817%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in years, except for aircraft)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Estimated Useful Life</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Software</span></div></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">3</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Equipment and fixtures</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">3 - 7</span></div></td></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Leasehold improvements</span></div></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">5 - 15 </span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">1</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Buildings</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">10 - 20</span></div></td></tr></table></div><div style="margin-bottom:6pt"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">_________________</span></div><div style="margin-bottom:9pt;padding-left:9pt;text-indent:-9pt"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">1</span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">    Lesser of lease term or useful life</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company capitalizes costs associated with the acquisition or development of major software for internal use and amortizes the assets over the expected life of the software, generally 3 years. The Company only capitalizes subsequent additions, modifications, or upgrades to internal-use software to the extent that such changes allow the software to perform a task it previously did not perform. The Company expenses software maintenance and training costs as incurred.</span></div><div style="margin-bottom:9pt"><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Leases</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company adopted ASC Topic 842 (ASC 842), </span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Leases</span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, as amended, with an effective date of January 1, 2022. Details of the adoption and the Company’s accounting policies related to leases are provided in NOTE 8 — Leases to the consolidated financial statements.</span></div><div><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Sale and Leaseback Transactions</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company has sale and leaseback transactions that do not qualify for sale-leaseback accounting because of deemed continuing involvement by the Company, which results in the transaction being recorded under the financing method. For additional information, see NOTE 8 — Leases and NOTE 9 — Debt to the consolidated financial statements.</span></div><div style="margin-bottom:9pt"><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Business Combinations</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company accounts for the acquisition of reacquired franchises from franchisees using the acquisition method of accounting for business combinations. The Company allocates the purchase price paid for assets acquired and liabilities assumed in connection with an acquisition based on the Company’s estimated fair value at the time of acquisition. This allocation involves a number of assumptions, estimates, and judgments in determining the fair value of the following:</span></div><div style="margin-bottom:9pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Intangible assets, including the valuation methodology, estimations of future cash flows, discount rates, market segment growth rates, assumed market share, as well as estimated useful life of intangible assets;</span></div><div style="margin-bottom:9pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Deferred tax assets and liabilities, uncertain tax positions, and tax-related valuation allowances, which are initially estimated as of the acquisition date;</span></div><div style="margin-bottom:9pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Inventory; property and equipment; pre-existing liabilities or legal claims; deferred revenue; and contingent consideration, each as may be applicable; and </span></div><div style="margin-bottom:9pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Goodwill as measured as the excess of consideration transferred over the net of the acquisition date fair values of the assets acquired and the liabilities assumed. All goodwill is allocated to the company-operated shops reportable segment. </span></div><div style="margin-bottom:9pt"><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Goodwill</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company reviews the recoverability of goodwill on a reporting unit basis at least annually, as of the end of the Company’s third fiscal quarter, and whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. The annual impairment test includes an option to perform a qualitative assessment of whether it is more likely than not that a reporting unit’s fair value is less than its carrying value; the qualitative test may be performed prior to, or as an alternative to, performing a quantitative goodwill impairment test. If, after assessing the totality of events or circumstances, the Company determines that it is more likely than not that the fair value of a reporting unit is less than its carrying value, then the Company is required to perform the quantitative goodwill impairment test. Otherwise, no further analysis is required. The Company performed annual qualitative impairment assessments for the years ended December 31, 2022, 2021, and 2020, and no impairment charges were recognized. </span></div>Impairment of Long-Lived AssetsLong-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset or asset group may not be recoverable. The Company’s assessment of recoverability of property and equipment and finite-lived intangible assets is performed at the component level, which is generally an individual shop, and requires judgment and an estimate of future undiscounted shop-generated cash flows. Estimates of fair values are based on the best information available and require the use of estimates, judgments, and projections. The Company tests for recoverability by comparing the carrying value of the asset (asset group) to the undiscounted cash flows. If the carrying value is not recoverable, the Company would recognize an impairment loss if the carrying value of the asset (asset group) exceeds the fair value. The Company performed an annual qualitative assessment, which indicates no changes in circumstances or triggering events for impairment.<div style="margin-bottom:9pt"><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Revenue Recognition</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Consolidated revenues are recognized net of any discounts, returns, allowances and sales incentives in accordance with Accounting Standard Codification (ASC) Topic 606, </span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Revenue from Contracts with Customers</span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">.</span></div><div><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Company-operated Shops Revenue</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Retail sales from company-operated shops and through online channels are recognized at the point in time when the products are sold to the customers. The Company reports revenues net of sales taxes collected from customers and remitted to government taxing authorities.</span></div><div><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Dutch Rewards Loyalty Program</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In February 2021, the Company transitioned from a stamp-based card loyalty program to a digital loyalty program (Dutch Rewards). Accessible through a mobile app, Dutch Rewards provides the following key opportunities for customers:</span></div><div style="margin-bottom:9pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Collect points based on purchases</span></div><div style="margin-bottom:9pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Convert points to rewards</span></div><div style="margin-bottom:9pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Rewards can be redeemed for free drinks</span></div><div style="margin-bottom:9pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Receive birthday awards</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Points collected prior to January 1, 2022, if not redeemed for rewards, expired on December 31, 2022. Points collected on or after January 1, 2022, if not redeemed for rewards within 180 days, will automatically expire and be removed from the customers’ accounts. Rewards are earned by redeeming points. Rewards that are not used within six months of issuance will automatically expire and be removed from the customer’s accounts. Separately, birthday awards automatically expire and are removed from the customers’ accounts after eight to 30 days, depending on the specific award. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company defers revenue based on the estimated value of beverages for which the reward is expected to be redeemed, net of estimated unredeemed points, rewards, and awards. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company will evaluate Dutch Rewards points breakage on a quarterly basis. The Company completed its initial breakage assessment as of December 31, 2022, which resulted in revenue recognized of $7.4 million, including $4.9 million for points collected prior to January 1, 2022 that expired on December 31, 2022.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Birthday awards have been a key part of the program since its inception. Although no breakage accounting entries were booked for birthday awards until December 31, 2022, based on the short duration of the birthday awards, any estimated breakage prior to December 31, 2022 would have been immaterial. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Customers typically use rewards converted from points very promptly. Although no breakage accounting entries were recognized until December 31, 2022 for rewards converted from points, based on the short duration of the rewards converted from points, any estimated breakage prior to December 31, 2022 would have been immaterial.</span></div><div><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Gift Card Program</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company also operates a gift card program and maintains a contract liability for gift cards sold, recognizing revenue from gift cards when a gift card is redeemed. Gift cards do not have an expiration date or a service fee causing a decrement to the customer balance. Based on historical redemptions rates, which are determined by historical redemption patterns, a portion of gift cards is not expected to be redeemed and will be recognized as breakage over time in proportion to gift card redemptions. The Company’s breakage income is not material.</span></div><div><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Franchising Revenue</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Franchise royalties are computed as a percentage of net franchise sales in most cases, and as a flat monthly fee in other cases. The royalty fee is charged for continuing support of franchisees for training, marketing, and operations services provided by the Company. These services are highly interrelated and so are not individually distinct performance obligations. As a result, these are accounted as a single performance obligation. Revenue from franchise royalties is recognized on a monthly basis. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company receives marketing fees from franchisees which are used to promote the Dutch Bros brand. Contributions are based on a percentage of monthly shop sales. Marketing fees are billed monthly. Marketing fees are recognized as revenue and included in franchising and other revenues, while expenditures are included in selling, general and administrative expenses, in the consolidated statements of operations. Expenditures of the funds collected as marketing fees include payments to third parties, personnel expenses, and allocated costs. At each reporting date, to the extent receipts exceed related marketing expenditures on a cumulative basis, the excess fees collected are recorded in accrued expenses in the consolidated balance sheets. As of December 31, 2022 and 2021, there were no excess marketing fees recorded in accrued liabilities as cumulative expenditures exceeded contributions.</span></div>Revenue from initial franchise fees (franchise fees) are recognized ratably over the term of the franchise agreement, which is generally ten years. Consideration received in advance of performing all significant services is included in initial franchise deposits and recorded as a contract liability. Deferred franchise fees for shops expected to open within a year and one year of amortization of the initial franchise fees are recorded as a contract liability and classified as a current liability.Other franchising revenue, including coffee bean sales, Dutch Bros. Blue Rebel beverage sales, accessories and other sales, are recognized on the date of delivery, net of returns.<div><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Other Revenue </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Other revenue includes retail coffee and other food and beverage sales, recognized at the date of sale, net of returns, as well as sales of products through the Company website, recognized at the point in time of shipment to customers, net of returns.</span></div><div><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Deferred Revenue</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Deferred revenue primarily consists of the unredeemed gift card liability and unredeemed points/rewards from our Dutch Rewards loyalty program, as discussed above. Deferred revenue also includes bean and beverage sales to distributors where the performance obligation has not yet been satisfied as control has not transferred to the customer.</span></div><div style="margin-bottom:9pt"><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Shop Pre-opening Expenses</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Pre-opening expenses incurred with the opening of new company-operated shops are expensed as incurred. These costs include rent expense, wages, benefits, travel and lodging for the training and opening management teams, and beverage and other shop operating expenses incurred prior to a shop opening for business and are included in cost of sales on the consolidated statements of operations.</span></div><div style="margin-bottom:9pt"><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Vendor Rebates</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company has entered into food and beverage supply agreements with certain major vendors. Pursuant to the terms of these arrangements, rebates are provided to the Company from the vendors based upon the dollar value of purchases for company-operated shops and franchised shops. These rebates are recognized as earned throughout the year and are recorded as accounts receivable and a reduction to cost of sales in the consolidated financial statements.</span></div><div style="margin-bottom:9pt"><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Advertising Expense</span></div><div style="text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Advertising costs are expensed as they are incurred. Most franchise shops contribute to an advertising fund that the Company manages on behalf of the shops. Under the Company’s standard franchise agreement, the contributions received must be spent on marketing, creative efforts, media support, or other related purposes specified in the agreement. The expenditures are primarily amounts paid to third parties but may also include personnel expenses and allocated costs. Advertising expense was as follows for the periods presented:</span></div><div style="margin-bottom:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:61.880%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.598%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.598%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.601%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Year Ended December 31,</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2022</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2021</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2020</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Advertising expense</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">32,327 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">30,652 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">18,047 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt"><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Equity-based Compensation</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company has granted time-based restricted stock awards (RSAs) to certain officers and employees in connection with the Reorganization Transactions and the IPO, and restricted stock units (RSUs) to directors and certain employees. The RSAs and RSUs are accounted for as equity-classified awards, and are granted at the fair value of the underlying Class A common stock of Dutch Bros Inc. as of the grant date and vest over the requisite service period.</span></div>The cost of the RSAs and RSUs is recognized as expense over the grantee’s requisite service period, and forfeitures are accounted for as they occur. The Company has not granted performance-based awards under its current equity incentive plan. <div style="margin-bottom:9pt"><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Income Taxes</span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is a corporation and sole managing member of Dutch Bros OpCo which is treated as a partnership for tax purposes. In addition to the Company and Dutch Bros OpCo, Dutch Bros OpCo is the sole member of other single member Dutch Bros OpCo entities disregarded for Federal tax purposes, and one subsidiary organized as a C-Corporation. </span></div><div><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For Dutch Bros OpCo, taxable income and the resulting liabilities are allocated among the owners of the entities and reported on the tax filings for those owners. The Company records income tax provision, deferred tax assets, and deferred tax liabilities only for the items for which the Company is responsible for making payments directly to the relevant tax authority.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Deferred income taxes reflect the net tax effects of temporary differences between the financial reporting and tax basis of assets and liabilities and are measured using the enacted tax rates and laws expected to be in effect when such differences are expected to reverse. Such temporary differences are reflected as deferred income tax assets and deferred tax liabilities on the consolidated balance sheets. A deferred tax asset is recognized if it is more likely than not that a tax benefit will be realized.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some or all of the deferred tax assets will be realized and, when necessary, a valuation allowance is established. The ultimate realization of the deferred tax assets is dependent upon the generation of future taxable income during the periods in which temporary differences become deductible.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is required to identify, evaluate and measure all uncertain tax positions taken or to be taken on tax returns and to record liabilities for the amount of these positions that may not be sustained, or may only partially be sustained, upon examination by the relevant taxing authorities. Although the Company believes that its estimates and judgments were reasonable, actual results may differ from these estimates. Some or all of these judgments are subject to review by the taxing authorities.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company recognizes the tax benefit from entity level uncertain tax positions if it is more likely than not that the tax position will be sustained on examination by the tax authorities, based on technical merits of the position. The tax benefit is measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement.</span></div><div style="margin-bottom:9pt"><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Earnings (Loss) Per Share</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Basic earnings (loss) per share of Class A and Class D common stock is computed by dividing net income (loss) attributable to Dutch Bros Inc. by the weighted-average number of shares of Class A and Class D common stock outstanding during the period. Diluted earnings (loss) per share of Class A and Class D common stock is computed by dividing net income (loss) attributable to Dutch Bros Inc., adjusted for the assumed exchange of all potentially dilutive instruments for Class A common stock, by the weighted-average number of shares of Class A and Class D common stock outstanding, adjusted to give effect to potentially dilutive elements. Share counts used in the diluted earnings (loss) per share calculations are adjusted for the deemed repurchases provided for in the treasury stock method for restricted stock awards and restricted stock units, and under the if-converted method for the outstanding convertible Class B and Class C common stock, if dilutive.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The basic and diluted earnings (loss) per share calculations for the year ended December 31, 2021 represent the post-IPO period from September 14, 2021 to December 31, 2021 only.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Prior to the IPO, the Dutch Bros OpCo membership structure included common units, redeemable common units, and PI units. The Company analyzed the calculation of earnings (loss) per unit for periods </span></div>prior to the IPO and determined that it resulted in values that would not be meaningful to the users of these consolidated financial statements. Therefore, earnings (loss) per unit information has not been presented for the year ended December 31, 2020.<div style="margin-bottom:9pt;text-align:justify"><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Recently Issued Accounting Standards</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In December 2022, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2022-06, </span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848</span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. The amendments in this update extend the transition relief period for reference rate reform from December 31, 2022 to December 31, 2024. The amendments in ASU 2022-06 apply to all entities, subject to meeting certain criteria, that have contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. ASU 2022-06 was effective upon issuance. The new standard has had no material impact on the Company's consolidated financial statements.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In October 2021, the FASB issued ASU No. 2021-08, </span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers</span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. The amendments in this update provide specific guidance to address diversity in practice related to (1) recognition of an acquired contract liability, and (2) payment terms and their effect on subsequent revenue recognized by the acquirer. The amendments in ASU 2021-08 are applied on a prospective basis, and are effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. Early adoption is permitted. The Company does not expect this standard to have a material impact on its consolidated financial statements.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Recently Adopted Accounting Standards</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In June 2016, the FASB issued ASU No. 2016-13, </span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Financial Instruments—Credit Losses</span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">(Topic 326)</span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">: </span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Measurement of Credit Losses on Financial Instruments</span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. ASU 2016-13, as amended, replaces the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. For accounts receivable and other financial instruments, the Company will be required to use a forward-looking expected loss model rather than the incurred loss model for recognizing credit losses which reflects losses that are probable. Application of the amendments is through a cumulative-effect adjustment to retained earnings as of the effective date. ASU 2016-13, as amended, is effective for fiscal years beginning after December 15, 2022. The Company has completed its evaluation and adoption of ASU 2016-13, as amended, and as of January 1, 2022 had no material impact on its consolidated financial statements.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In February 2016, the FASB issued ASU No. 2016-02, </span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Leases (Topic 842</span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">). The pronouncement requires lessees to recognize a liability for lease obligations, which represent the discounted obligation to make future lease payments, and a corresponding right-of-use asset on the balance sheet, as well as new disclosure requirements. The Company adopted Topic 842 effective January 1, 2022 using the modified transition approach. For additional information, refer to NOTE 8 — Leases.</span></div> Financial Statements PresentationThe Company’s consolidated financial statements as of December 31, 2022 and 2021 and for the years ended December 31, 2022, 2021, and 2020 have been prepared in accordance with GAAP and pursuant to the rules and regulations of the SEC. The tables below reflect the sections of the Company’s consolidated financial statements that were impacted by the immaterial error.<div><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Consolidated Balance Sheet:</span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:48.900%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.925%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.925%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.927%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="15" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">December 31, 2021</span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">As Reported</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Adjustments</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">As Corrected</span></td></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Current liabilities:</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Accrued liabilities</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">24,513 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(3,543)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">20,970 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total current liabilities</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">142,277 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(3,543)</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">138,734 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total liabilities</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">343,514 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(3,543)</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">339,971 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr style="height:14pt"><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Stockholders’ equity:</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additional paid in capital</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">106,410 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">783 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">107,193 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Accumulated deficit</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(12,914)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">235 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(12,679)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total stockholders’ equity attributable to Dutch Bros Inc. / members’ equity</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">93,498 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,018 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">94,516 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Non-controlling interests</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">116,688 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,525 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">119,213 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total equity</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">210,186 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">3,543 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">213,729 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table></div><div style="margin-bottom:9pt"><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Consolidated Statements of Operations:</span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:48.900%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.925%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.925%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.927%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Year Ended December 31, 2021</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">As Reported</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Adjustments</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">As Corrected</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Costs and expenses</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Cost of sales</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">346,113 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(1,540)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">344,573 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Selling, general and administrative</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">265,035 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(506)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">264,529 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total costs and expenses</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">611,148 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(2,046)</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">609,102 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Loss from operations</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(113,272)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,046 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(111,226)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Loss before income taxes</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(121,605)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,046 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(119,559)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net loss</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(119,977)</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,046 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(117,931)</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:48.900%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.925%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.925%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.927%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Year Ended December 31, 2020</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">As Reported</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Adjustments</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">As Corrected</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Costs and expenses</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Cost of sales</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">211,659 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(181)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">211,478 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Selling, general and administrative</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">105,087 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(152)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">104,935 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total costs and expenses</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">316,746 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(333)</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">316,413 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Income from operations</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">10,667 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">333 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">11,000 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Income before income taxes</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">6,568 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">333 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">6,901 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net income</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">5,725 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">333 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">6,058 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt"><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Consolidated Statements of Changes in Stockholders’/Members’ Equity:</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:48.900%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.925%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.925%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.927%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Year Ended December 31, 2021</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">As Reported</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Adjustments</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">As Corrected</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Members' Equity</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Balance, December 31, 2020</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">75,990 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,497 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">77,487 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net loss prior to the Reorganization Transactions</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(68,602)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,228 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(67,374)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Effect of the Reorganization Transactions and initial public offering on non-controlling interests</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">50,745 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(2,725)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">48,020 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr style="height:12pt"><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Additional Paid-in-Capital</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Effect of the Reorganization Transactions and initial public offering on non-controlling interests</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(196,515)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">579 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(195,936)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Purchase of OpCo Units in connection with the initial public offering</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(239,622)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">201 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(239,421)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Effect of exchange of Dutch Bros OpCo Class A common units</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">285 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">4 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">289 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Balance, December 31, 2021</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">106,409 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">784 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">107,193 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr style="height:12pt"><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Accumulated Deficit</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net loss subsequent to the Reorganization Transactions</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(12,914)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">235 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(12,679)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Balance, December 31, 2021</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(12,914)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">235 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(12,679)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr style="height:12pt"><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Non-Controlling Interests</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Effect of the Reorganization Transactions and initial public offering on non-controlling interests</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">145,768 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,146 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">147,914 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Purchase of OpCo Units in connection with the initial public offering</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(13,648)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(201)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(13,849)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net loss subsequent to the Reorganization Transactions</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(38,461)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">583 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(37,878)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Effect of exchange of Dutch Bros OpCo Class A common units</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(285)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(4)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(289)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Balance, December 31, 2021</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">116,689 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,524 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">119,213 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr style="height:12pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Total Equity</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Balance, December 31, 2020</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">75,990 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,497 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">77,487 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net loss prior to the Reorganization Transactions</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(68,602)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,228 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(67,374)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net loss subsequent to the Reorganization Transactions</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(51,375)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">818 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(50,557)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Balance, December 31, 2021</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">210,186 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">3,543 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">213,729 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:48.900%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.925%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.925%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.927%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Year Ended December 31, 2020</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">As Reported</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Adjustments</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">As Corrected</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Permanent equity: members’ deficit</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Balance, December 31, 2019</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(859,706)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,164 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(858,542)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net income</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">5,725 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">333 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">6,058 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Balance, December 31, 2020</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(1,459,782)</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,497 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(1,458,285)</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt"><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Consolidated Statements of Cash Flows:</span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:48.900%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.925%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.925%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.927%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Year Ended December 31, 2021</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">As Reported</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Adjustments</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">As Corrected</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Cash flows from operating activities:</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net loss</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(119,977)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,046 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(117,931)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Changes in operating assets and liabilities, net of acquisitions:</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Accrued expenses</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">9,973 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(2,046)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">7,927 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:48.900%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.925%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.925%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.927%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Year Ended December 31, 2020</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">As Reported</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Adjustments</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">As Corrected</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Cash flows from operating activities:</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net income</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">5,725 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">333 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">6,058 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Changes in operating assets and liabilities, net of acquisitions:</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Accrued expenses</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,527 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(333)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,194 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table></div> 24513000 -3543000 20970000 142277000 -3543000 138734000 343514000 -3543000 339971000 106410000 783000 107193000 -12914000 235000 -12679000 93498000 1018000 94516000 116688000 2525000 119213000 210186000 3543000 213729000 346113000 -1540000 344573000 265035000 -506000 264529000 611148000 -2046000 609102000 -113272000 2046000 -111226000 -121605000 2046000 -119559000 -119977000 2046000 -117931000 211659000 -181000 211478000 105087000 -152000 104935000 316746000 -333000 316413000 10667000 333000 11000000 6568000 333000 6901000 5725000 333000 6058000 75990000 1497000 77487000 -68602000 1228000 -67374000 50745000 -2725000 48020000 -196515000 579000 -195936000 239622000 -201000 239421000 285000 4000 289000 106409000 784000 107193000 -12914000 235000 -12679000 -12914000 235000 -12679000 145768000 2146000 147914000 13648000 201000 13849000 -38461000 583000 -37878000 -285000 -4000 -289000 116689000 2524000 119213000 75990000 1497000 77487000 -68602000 1228000 -67374000 -51375000 818000 -50557000 210186000 3543000 213729000 -859706000 1164000 -858542000 5725000 333000 6058000 -1459782000 1497000 -1458285000 -119977000 2046000 -117931000 9973000 -2046000 7927000 5725000 333000 6058000 2527000 -333000 2194000 <div><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Principles of Consolidation</span></div><div><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The consolidated financial statements include the accounts of the Company and its subsidiaries that it controls due to ownership of a majority voting interest or pursuant to accounting guidance for non-controlling interests. All intercompany transactions and balances have been eliminated in consolidation.</span></div> <div style="margin-bottom:9pt"><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Use of Estimates</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The presentation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions, primarily related to long-lived asset valuation, leases, deferred revenue, tax receivable agreements, income taxes, and equity-based compensation that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. Although management bases its estimates on historical experience and assumptions that are believed to be reasonable under the circumstances, actual results could differ from those estimates.</span></div> <div style="margin-bottom:9pt"><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Reclassifications</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company has reclassified certain amounts in prior-period consolidated financial statements to conform to the current period's presentation. </span></div>•NOTE 5 — Inventories: components of inventory related to our Blue Rebel energy drink have been reclassified from finished goods to raw materials. <div style="margin-bottom:9pt"><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Cash and Cash Equivalents</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Cash and cash equivalents include all short-term highly liquid instruments with original maturities of three months or less at the time of purchase, as well as credit card receivables for sales to customers in company-operated shops that generally settle within two to five business days. The Company’s cash accounts are maintained at various high credit quality financial institutions and may exceed federally insured limits. The Company has not experienced any losses in such accounts.</span></div> <div style="margin-bottom:9pt"><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Fair Value Measurements</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company applies fair value accounting for all financial assets and liabilities and non-financial assets and liabilities that are recognized or disclosed at fair value in the consolidated financial statements on a recurring basis. The Company categorizes assets and liabilities, based on the priority of the inputs to the valuation technique, into a three-level fair value hierarchy as set forth below. The three levels of the hierarchy are defined as follows:</span></div><div style="margin-bottom:9pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Level 1</span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> – Unadjusted quoted prices in active markets for identical assets or liabilities.</span></div><div style="margin-bottom:9pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Level 2</span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> – Observable inputs other than quoted prices in active markets for identical assets or liabilities, quoted prices for identical assets or liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.</span></div><div style="margin-bottom:9pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Level 3</span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> – Inputs that are both unobservable and significant to the overall fair value measurements reflecting an entity's estimates of assumptions that market participants would use in pricing the asset or liability.</span></div>The Company’s consolidated balance sheets include cash and cash equivalents, accounts receivable, prepaid expenses and other current assets, accounts payable, accrued expenses and other current liabilities, for which the carrying amounts approximate fair value due to their short-term maturity. The fair value of the Company’s variable-rate credit facilities approximate their carrying amounts as the Company’s cost of borrowing is variable and approximates current market prices, which is considered Level 2 in the fair value hierarchyThe Company’s consolidated financial statements include cash and cash equivalents, accounts receivable, accounts payable, accrued expenses and other current liabilities, for which the carrying amounts approximate fair value due to their short-term maturity. The fair value of the Company’s variable-rate term loan and revolving loans approximate their carrying amounts; these debt instruments are designated as Level 2 within the fair value hierarchy, as the Company’s cost of borrowing is variable and approximates current market rates. <div style="margin-bottom:9pt"><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Derivative Instruments</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company manages exposure to fluctuations in interest rates within its consolidated financial statements according to a hedging policy. Under this policy, the Company may engage in interest rate swap agreements to hedge interest rate risk. A swap agreement is a contract between two parties to exchange cash flows based on specified underlying notional amounts, assets and/or indices. The Company does not enter into derivative instruments for speculative purposes.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">By using swap instruments, the Company is exposed to potential credit risk. Credit risk is the failure of the counterparty to perform under the terms of the derivative contract. The Company minimizes this credit risk by entering into transactions with carefully selected, credit-worthy counterparties.</span></div><div><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Cash Flow Hedges</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Cash flow hedges related to anticipated transactions are designated and documented at the inception of each hedge. Cash flows from hedging transactions are classified in the same categories as the cash flows from the respective hedged items.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For derivative instruments that are designated and qualify as a cash flow hedge, the derivative's gain or loss is reported as a component of other comprehensive income (OCI) and recorded in accumulated other comprehensive income (AOCI) on the Company’s consolidated balance sheets. The gain or loss is subsequently reclassified into net earnings when the hedged exposure affects net earnings, in the same line item as the underlying hedged item on the Company’s consolidated statements of operations.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company discontinues hedge accounting when: </span></div><div style="margin-bottom:9pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">it determines that the cash flow derivative is no longer effective in offsetting changes in the cash flows of a hedged item; </span></div><div style="margin-bottom:9pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">the derivative expires or is sold, terminated or exercised; </span></div><div style="margin-bottom:9pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">it is no longer probable that the forecasted transaction will occur; or </span></div><div style="margin-bottom:9pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">management determines that designation of the derivatives as a hedge instrument is no longer appropriate.</span></div> Accounts receivable, net of allowance for doubtful accounts, consist primarily of royalty revenues, outstanding balances for sales of roasted coffee beans, other retail-related supplies to franchisees, and vendor rebates. The allowance for doubtful accounts is estimated based on the Company’s historical losses, review of specific accounts, existing economic conditions in the industry, and the financial stability of its customers. Accounts receivable are charged off against the allowance for doubtful accounts when they are determined by management to be uncollectible. The Company had no allowance for doubtful accounts at December 31, 2022 and 2021. 0 0 InventoriesInventories, net consist primarily of roasted and unroasted coffee beans, Blue Rebel, accessories, and other retail related supplies. Inventories are stated at the lower of cost or net realizable value, with cost being determined by the standard cost method which approximates actual cost on a first-in, first-out basis. The Company records product returns as they are received, and obsolete and slow-moving inventory when identified, as these types of transactions have generally been immaterial to the Company’s historical operations. <div style="margin-bottom:9pt"><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Property and Equipment</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Property and equipment, net are stated at historical cost less accumulated depreciation. Expenditures for maintenance, repairs, and routine replacements are charged to expense as incurred. Expenditures for major repairs and improvements that extend the useful lives of property and equipment are capitalized. When property or equipment is sold or otherwise disposed of, the asset and related accumulated depreciation are removed from the balance sheet and any gain or loss is included in income (loss) from operations in the accompany consolidated statements of operations. Depreciation is computed on a straight-line basis over the following useful lives:</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:75.342%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:21.817%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in years, except for aircraft)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Estimated Useful Life</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Software</span></div></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">3</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Equipment and fixtures</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">3 - 7</span></div></td></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Leasehold improvements</span></div></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">5 - 15 </span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">1</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Buildings</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">10 - 20</span></div></td></tr></table></div><div style="margin-bottom:6pt"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">_________________</span></div><div style="margin-bottom:9pt;padding-left:9pt;text-indent:-9pt"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">1</span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">    Lesser of lease term or useful life</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company capitalizes costs associated with the acquisition or development of major software for internal use and amortizes the assets over the expected life of the software, generally 3 years. The Company only capitalizes subsequent additions, modifications, or upgrades to internal-use software to the extent that such changes allow the software to perform a task it previously did not perform. The Company expenses software maintenance and training costs as incurred.</span></div> Depreciation is computed on a straight-line basis over the following useful lives:<div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:75.342%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:21.817%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in years, except for aircraft)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Estimated Useful Life</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Software</span></div></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">3</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Equipment and fixtures</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">3 - 7</span></div></td></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Leasehold improvements</span></div></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">5 - 15 </span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">1</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Buildings</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">10 - 20</span></div></td></tr></table></div><div style="margin-bottom:6pt"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">_________________</span></div><div style="margin-bottom:9pt;padding-left:9pt;text-indent:-9pt"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">1</span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">    Lesser of lease term or useful life</span></div><div style="margin-bottom:9pt"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Property and equipment, net consists of the following:</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.839%"><tr><td style="width:1.0%"/><td style="width:51.548%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.442%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.320%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:1.886%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.320%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.442%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.148%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.442%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.152%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="9" style="border-bottom:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:9pt;text-align:center"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Useful Life </span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(Years)</span></div></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">December 31, 2022</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">December 31, 2021</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Software</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="9" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">3</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">7,430 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">7,132 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Equipment and fixtures</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">3</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:6pt;font-weight:400;line-height:120%">—</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">7</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">93,908 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">57,952 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Leasehold improvements</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">5</span></td><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:6pt;font-weight:400;line-height:120%">—</span></td><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">15</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">29,985 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">20,744 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Buildings</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">10</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:6pt;font-weight:400;line-height:120%">—</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">20</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">158,250 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">168,395 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Land</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="9" style="background-color:#d2dce5;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">N/A</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">7,956 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">5,242 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Aircraft </span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">1</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="9" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">N/A</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">9,195 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">9,531 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Construction-in-progress </span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">2</span></div></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="9" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">N/A</span></div></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">131,240 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">88,050 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Property and equipment, gross</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">437,964 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">357,046 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Less: accumulated depreciation</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(72,496)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(55,048)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Property and equipment, net</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">365,468 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">301,998 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">_______________</span></div><div style="margin-bottom:9pt;padding-left:9pt;text-align:justify;text-indent:-9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">1</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">    Aircraft is depreciated under the consumption method.</span></div><div style="margin-bottom:9pt;padding-left:9pt;text-indent:-9pt"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">2    </span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Construction-in-progress primarily consists of construction and equipment costs for new and existing shops, as well as our new roasting facility in Texas.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Depreciation expense included in the Company’s consolidated statements of operations was as follows:</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:61.880%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.598%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.598%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.601%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Year Ended December 31,</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2022</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2021 ¹</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2020 ¹</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Cost of sales</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">26,261 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">19,023 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">11,426 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Selling, general and administrative expenses</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,705 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,663 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,451 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total depreciation expense</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">28,966 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">21,686 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">12,877 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">_______________</span></div>1    2021 and 2020 include depreciation for capital leases under ASC 840, however see NOTE 8 — Leases for 2022 amortization related to financing leases under ASC 842. P3Y P3Y P7Y P5Y P15Y P10Y P20Y P3Y Sale and Leaseback TransactionsThe Company has sale and leaseback transactions that do not qualify for sale-leaseback accounting because of deemed continuing involvement by the Company, which results in the transaction being recorded under the financing method. the Company recognized operating lease liabilities of $152.8 million based on the present value of the remaining lease payments for existing operating leases, and operating right-of-use assets of $150.7 million, net of reductions for the impacts of deferred rents. As part of the transition, the Company derecognized all landlord funded lease incentives and deemed landlord financing liabilities, including capital assets related to previous sale and leaseback transactions which were remeasured under ASC 842 adoption requirements.<div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The standard provides several optional practical expedients in transition. The Company elected the package of practical expedients, which permits it to not reassess, under the new standard, the Company's prior conclusions about lease identification, lease classification and initial direct costs. As such, the Company applied the modified retrospective transition method as of the adoption date to those lease contracts for which it had taken possession of the property as of January 1, 2022. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company also elected the practical expedient pertaining to land easements and did not elect the practical expedient related to use-of-hindsight. The new standard also provides practical expedients for an entity’s ongoing accounting. The Company elected the short-term lease recognition exemption and also the practical expedient to not separate lease and non-lease components for all its leases.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Nature of Leases</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company leases all of its domestic company-operated shops, warehouse facilities, most headquarters buildings, and certain equipment under various non-cancelable lease agreements that expire on various dates through 2042. The Company evaluates contracts entered into to determine whether the contract involves the use of property or equipment, which is either explicitly or implicitly identified in the contract. The Company evaluates whether it controls the use of the asset, which is determined by assessing whether it obtains substantially all economic benefits from the use of the asset, and whether the Company has the right to direct the use of the asset. If these criteria are met, a lease has been identified and if it has a term greater than one year, the Company accounts for the contract under the requirements of ASC 842.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Lease commencement is determined when the Company takes possession of a leased asset, at which time the Company also determines the lease classification as an operating or finance lease. The Company’s real estate leases consist of commercial ground leases (land only) and build-to-suit leases (land and building).</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The real estate leases are a combination of both operating and finance leases, depending on evaluation of the lease terms. Generally, the Company’s real estate leases have an initial term of 15 years and typically include two to three renewal options of five-years each. These renewal options are included in the lease term when it is reasonably certain that the option will be exercised. For commercial ground leases, one five-year renewal is included in the Company’s initial lease term calculations. The Company’s real estate leases typically provide for fixed minimum rent payments. For operating leases, the Company recognizes lease expense on a straight-line basis over the lease term from the date the Company takes possession of the leased property. Lease expense incurred prior to lease commencement is included in the calculation of the right-of-use asset. Once a lease commences, the Company records lease expense in cost of sales on the Company’s consolidated statements of operations. Variable lease costs generally include payments for additional rent such as real estate taxes, insurance, and common area maintenance, and are excluded from the measurement of the lease liability. Variable lease costs are included in cost of sales on the consolidated statements of operations.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company calculates right-of-use assets and lease liabilities based on the present value of the fixed lease payments, including any estimated lease incentives, at lease commencement using its incremental borrowing rate, which is established by a third party, and applied on a portfolio basis. As the interest rate implicit in the Company’s leases cannot be readily determined, the discount rate used to measure the lease liability is equal to the rate the Company would pay on a collateralized basis to borrow an amount equal to the lease payments under similar terms.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company expends cash for leasehold improvements to build out and equip its leased premises. For certain leases, a portion of the leasehold improvements and building costs are reimbursed by landlords as landlord incentives pursuant to agreed-upon terms in the Company’s lease agreements. Landlord incentives, if obtained, are received in cash after the Company takes possession of the property, and as the Company meets required milestones during the construction of the property. The Company includes these amounts in the measurement of the initial right-of-use asset and lease liability.</span></div> NOTE 9 — DebtNOTE 9 — Debt<div style="margin-bottom:9pt;text-align:justify"><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Credit Facility</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On February 28, 2022 (the Effective Date) the Company amended its credit facility entered into on May 12, 2021 with JPMorgan Chase, N.A. (the Senior Secured Credit Facility). The amended facility (the 2022 Credit Facility) has a total capacity of $500 million, consisting of a $250 million revolving credit facility, a delayed draw term loan facility of up to $150 million, and a term loan facility of up to $100 million. The revolving credit facility includes sub-limits for issuance of letters of credit and swing line loans of up to $50 million and $15 million, respectively. The 2022 Credit Facility also contains an option allowing the Company to increase the size of the 2022 Credit Facility by up to an additional $150 million, with the agreement of the committing lenders. The 2022 Credit Facility expires five years after the Effective Date.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Upon entering into the 2022 Credit Facility, in February 2022, the Company drew the full $100 million term loan facility and approximately $28 million in revolving loans, and the existing credit facility was repaid and terminated.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Interest on borrowings under the 2022 Credit Facility is based on (a) the Alternate Base Rate plus an applicable margin, or (b) the Adjusted Term SOFR Rate plus an applicable margin, and is payable in accordance with the selected interest rate period (at least quarterly) and upon maturity. Principal payments for the term loans are required on a quarterly basis in accordance with an amortization schedule and upon certain disposition of assets. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is required to pay a commitment fee on a quarterly basis, at a per annum rate of between 0.20% and 0.45% (depending on the Company’s maximum net lease-adjusted total leverage ratio) based on the (i) average daily unused portion of the revolving credit facility, and (ii) the daily undrawn amount of the delayed draw term loan facility. These fees are recorded as interest expense on the Company’s consolidated statements of operations. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The 2022 Credit Facility contains financial covenants that require the Company to not exceed a maximum net lease-adjusted total leverage ratio and maintain a minimum fixed charge coverage ratio. The 2022 Credit Facility also contains certain negative covenants that, among other things, limit the Company’s ability to incur additional debt, grant liens on assets, merge with or acquire other companies, make other investments, dispose of assets, and enter into sale and leaseback transactions and swap agreements. Obligations under the 2022 Credit Facility are guaranteed by Dutch Bros OpCo and its subsidiaries, and secured by a first priority perfected security interest in substantially all of the assets of the guarantors.</span></div>As of December 31, 2022, approximately $98.1 million and $112.7 million were outstanding on the term loan and revolving loans, respectively, and $137.3 million was available for borrowing on the revolving loans. The term loan bears interest at 6.92% and revolving loans bear interest at approximately 6.87% as of December 31, 2022. The Company was in compliance with its financial covenants as of that date.<div style="margin-bottom:9pt;text-align:justify"><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Long-Term Debt</span></div><div style="margin-bottom:9pt"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company’s long-term debt consisted of the following for the periods presented:</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:66.367%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.925%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.126%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">December 31, 2022</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">December 31, 2021</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Terms loan under credit facility</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #131e29;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #131e29;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">98,125 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #131e29;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #131e29;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #131e29;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#d2dce5;border-top:1pt solid #131e29;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Finance obligation</span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">1</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,379 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,978 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Unsecured note payable</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">524 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">628 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total debt</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">100,028 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">3,606 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Less: loan origination fees</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(1,122)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Less: current portion</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(2,609)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(103)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total long-term debt, net of current portion</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">96,297 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">3,503 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">_______________</span></div><div style="margin-bottom:9pt;padding-left:9pt;text-align:justify;text-indent:-9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">1    </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Effective January 1, 2022, with our adoption of ASC 842 (</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">Leases</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">), the 2021 failed sale-leaseback transactions were remeasured and included in our lease obligations. Subsequently we entered into a failed sale-leaseback arrangement under ASC 842 during the first half of 2022. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Future annual maturities of long-term debt as of December 31, 2022 are as follows: </span><span style="color:#ee2724;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="margin-bottom:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:84.316%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.843%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2023</span></td><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,609 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2024</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">4,491 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2025</span></td><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">6,998 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2026</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">13,256 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2027</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">71,295 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Thereafter</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,379 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">100,028 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div> <div style="margin-bottom:9pt"><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Business Combinations</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company accounts for the acquisition of reacquired franchises from franchisees using the acquisition method of accounting for business combinations. The Company allocates the purchase price paid for assets acquired and liabilities assumed in connection with an acquisition based on the Company’s estimated fair value at the time of acquisition. This allocation involves a number of assumptions, estimates, and judgments in determining the fair value of the following:</span></div><div style="margin-bottom:9pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Intangible assets, including the valuation methodology, estimations of future cash flows, discount rates, market segment growth rates, assumed market share, as well as estimated useful life of intangible assets;</span></div><div style="margin-bottom:9pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Deferred tax assets and liabilities, uncertain tax positions, and tax-related valuation allowances, which are initially estimated as of the acquisition date;</span></div><div style="margin-bottom:9pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Inventory; property and equipment; pre-existing liabilities or legal claims; deferred revenue; and contingent consideration, each as may be applicable; and </span></div>•Goodwill as measured as the excess of consideration transferred over the net of the acquisition date fair values of the assets acquired and the liabilities assumed. All goodwill is allocated to the company-operated shops reportable segment. GoodwillThe Company reviews the recoverability of goodwill on a reporting unit basis at least annually, as of the end of the Company’s third fiscal quarter, and whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. The annual impairment test includes an option to perform a qualitative assessment of whether it is more likely than not that a reporting unit’s fair value is less than its carrying value; the qualitative test may be performed prior to, or as an alternative to, performing a quantitative goodwill impairment test. If, after assessing the totality of events or circumstances, the Company determines that it is more likely than not that the fair value of a reporting unit is less than its carrying value, then the Company is required to perform the quantitative goodwill impairment test. Otherwise, no further analysis is required. The Company performed annual qualitative impairment assessments for the years ended December 31, 2022, 2021, and 2020, and no impairment charges were recognized. 0 0 0 Impairment of Long-Lived AssetsLong-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset or asset group may not be recoverable. The Company’s assessment of recoverability of property and equipment and finite-lived intangible assets is performed at the component level, which is generally an individual shop, and requires judgment and an estimate of future undiscounted shop-generated cash flows. Estimates of fair values are based on the best information available and require the use of estimates, judgments, and projections. The Company tests for recoverability by comparing the carrying value of the asset (asset group) to the undiscounted cash flows. If the carrying value is not recoverable, the Company would recognize an impairment loss if the carrying value of the asset (asset group) exceeds the fair value. The Company performed an annual qualitative assessment, which indicates no changes in circumstances or triggering events for impairment. <div style="margin-bottom:9pt"><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Revenue Recognition</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Consolidated revenues are recognized net of any discounts, returns, allowances and sales incentives in accordance with Accounting Standard Codification (ASC) Topic 606, </span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Revenue from Contracts with Customers</span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">.</span></div><div><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Company-operated Shops Revenue</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Retail sales from company-operated shops and through online channels are recognized at the point in time when the products are sold to the customers. The Company reports revenues net of sales taxes collected from customers and remitted to government taxing authorities.</span></div><div><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Dutch Rewards Loyalty Program</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In February 2021, the Company transitioned from a stamp-based card loyalty program to a digital loyalty program (Dutch Rewards). Accessible through a mobile app, Dutch Rewards provides the following key opportunities for customers:</span></div><div style="margin-bottom:9pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Collect points based on purchases</span></div><div style="margin-bottom:9pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Convert points to rewards</span></div><div style="margin-bottom:9pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Rewards can be redeemed for free drinks</span></div><div style="margin-bottom:9pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Receive birthday awards</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Points collected prior to January 1, 2022, if not redeemed for rewards, expired on December 31, 2022. Points collected on or after January 1, 2022, if not redeemed for rewards within 180 days, will automatically expire and be removed from the customers’ accounts. Rewards are earned by redeeming points. Rewards that are not used within six months of issuance will automatically expire and be removed from the customer’s accounts. Separately, birthday awards automatically expire and are removed from the customers’ accounts after eight to 30 days, depending on the specific award. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company defers revenue based on the estimated value of beverages for which the reward is expected to be redeemed, net of estimated unredeemed points, rewards, and awards. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company will evaluate Dutch Rewards points breakage on a quarterly basis. The Company completed its initial breakage assessment as of December 31, 2022, which resulted in revenue recognized of $7.4 million, including $4.9 million for points collected prior to January 1, 2022 that expired on December 31, 2022.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Birthday awards have been a key part of the program since its inception. Although no breakage accounting entries were booked for birthday awards until December 31, 2022, based on the short duration of the birthday awards, any estimated breakage prior to December 31, 2022 would have been immaterial. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Customers typically use rewards converted from points very promptly. Although no breakage accounting entries were recognized until December 31, 2022 for rewards converted from points, based on the short duration of the rewards converted from points, any estimated breakage prior to December 31, 2022 would have been immaterial.</span></div><div><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Gift Card Program</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company also operates a gift card program and maintains a contract liability for gift cards sold, recognizing revenue from gift cards when a gift card is redeemed. Gift cards do not have an expiration date or a service fee causing a decrement to the customer balance. Based on historical redemptions rates, which are determined by historical redemption patterns, a portion of gift cards is not expected to be redeemed and will be recognized as breakage over time in proportion to gift card redemptions. The Company’s breakage income is not material.</span></div><div><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Franchising Revenue</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Franchise royalties are computed as a percentage of net franchise sales in most cases, and as a flat monthly fee in other cases. The royalty fee is charged for continuing support of franchisees for training, marketing, and operations services provided by the Company. These services are highly interrelated and so are not individually distinct performance obligations. As a result, these are accounted as a single performance obligation. Revenue from franchise royalties is recognized on a monthly basis. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company receives marketing fees from franchisees which are used to promote the Dutch Bros brand. Contributions are based on a percentage of monthly shop sales. Marketing fees are billed monthly. Marketing fees are recognized as revenue and included in franchising and other revenues, while expenditures are included in selling, general and administrative expenses, in the consolidated statements of operations. Expenditures of the funds collected as marketing fees include payments to third parties, personnel expenses, and allocated costs. At each reporting date, to the extent receipts exceed related marketing expenditures on a cumulative basis, the excess fees collected are recorded in accrued expenses in the consolidated balance sheets. As of December 31, 2022 and 2021, there were no excess marketing fees recorded in accrued liabilities as cumulative expenditures exceeded contributions.</span></div>Revenue from initial franchise fees (franchise fees) are recognized ratably over the term of the franchise agreement, which is generally ten years. Consideration received in advance of performing all significant services is included in initial franchise deposits and recorded as a contract liability. Deferred franchise fees for shops expected to open within a year and one year of amortization of the initial franchise fees are recorded as a contract liability and classified as a current liability.Other franchising revenue, including coffee bean sales, Dutch Bros. Blue Rebel beverage sales, accessories and other sales, are recognized on the date of delivery, net of returns.<div><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Other Revenue </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Other revenue includes retail coffee and other food and beverage sales, recognized at the date of sale, net of returns, as well as sales of products through the Company website, recognized at the point in time of shipment to customers, net of returns.</span></div><div><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Deferred Revenue</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Deferred revenue primarily consists of the unredeemed gift card liability and unredeemed points/rewards from our Dutch Rewards loyalty program, as discussed above. Deferred revenue also includes bean and beverage sales to distributors where the performance obligation has not yet been satisfied as control has not transferred to the customer.</span></div> P180D P6M 7400000 4900000 <div style="margin-bottom:9pt"><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Shop Pre-opening Expenses</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Pre-opening expenses incurred with the opening of new company-operated shops are expensed as incurred. These costs include rent expense, wages, benefits, travel and lodging for the training and opening management teams, and beverage and other shop operating expenses incurred prior to a shop opening for business and are included in cost of sales on the consolidated statements of operations.</span></div> <div style="margin-bottom:9pt"><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Vendor Rebates</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company has entered into food and beverage supply agreements with certain major vendors. Pursuant to the terms of these arrangements, rebates are provided to the Company from the vendors based upon the dollar value of purchases for company-operated shops and franchised shops. These rebates are recognized as earned throughout the year and are recorded as accounts receivable and a reduction to cost of sales in the consolidated financial statements.</span></div> Advertising ExpenseAdvertising costs are expensed as they are incurred. Most franchise shops contribute to an advertising fund that the Company manages on behalf of the shops. Under the Company’s standard franchise agreement, the contributions received must be spent on marketing, creative efforts, media support, or other related purposes specified in the agreement. The expenditures are primarily amounts paid to third parties but may also include personnel expenses and allocated costs. Advertising expense was as follows for the periods presented:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:61.880%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.598%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.598%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.601%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Year Ended December 31,</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2022</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2021</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2020</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Advertising expense</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">32,327 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">30,652 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">18,047 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table> 32327000 30652000 18047000 <div style="margin-bottom:9pt"><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Equity-based Compensation</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company has granted time-based restricted stock awards (RSAs) to certain officers and employees in connection with the Reorganization Transactions and the IPO, and restricted stock units (RSUs) to directors and certain employees. The RSAs and RSUs are accounted for as equity-classified awards, and are granted at the fair value of the underlying Class A common stock of Dutch Bros Inc. as of the grant date and vest over the requisite service period.</span></div>The cost of the RSAs and RSUs is recognized as expense over the grantee’s requisite service period, and forfeitures are accounted for as they occur. The Company has not granted performance-based awards under its current equity incentive plan. <div style="margin-bottom:9pt"><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Income Taxes</span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is a corporation and sole managing member of Dutch Bros OpCo which is treated as a partnership for tax purposes. In addition to the Company and Dutch Bros OpCo, Dutch Bros OpCo is the sole member of other single member Dutch Bros OpCo entities disregarded for Federal tax purposes, and one subsidiary organized as a C-Corporation. </span></div><div><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For Dutch Bros OpCo, taxable income and the resulting liabilities are allocated among the owners of the entities and reported on the tax filings for those owners. The Company records income tax provision, deferred tax assets, and deferred tax liabilities only for the items for which the Company is responsible for making payments directly to the relevant tax authority.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Deferred income taxes reflect the net tax effects of temporary differences between the financial reporting and tax basis of assets and liabilities and are measured using the enacted tax rates and laws expected to be in effect when such differences are expected to reverse. Such temporary differences are reflected as deferred income tax assets and deferred tax liabilities on the consolidated balance sheets. A deferred tax asset is recognized if it is more likely than not that a tax benefit will be realized.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some or all of the deferred tax assets will be realized and, when necessary, a valuation allowance is established. The ultimate realization of the deferred tax assets is dependent upon the generation of future taxable income during the periods in which temporary differences become deductible.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is required to identify, evaluate and measure all uncertain tax positions taken or to be taken on tax returns and to record liabilities for the amount of these positions that may not be sustained, or may only partially be sustained, upon examination by the relevant taxing authorities. Although the Company believes that its estimates and judgments were reasonable, actual results may differ from these estimates. Some or all of these judgments are subject to review by the taxing authorities.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company recognizes the tax benefit from entity level uncertain tax positions if it is more likely than not that the tax position will be sustained on examination by the tax authorities, based on technical merits of the position. The tax benefit is measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement.</span></div> <div style="margin-bottom:9pt"><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Earnings (Loss) Per Share</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Basic earnings (loss) per share of Class A and Class D common stock is computed by dividing net income (loss) attributable to Dutch Bros Inc. by the weighted-average number of shares of Class A and Class D common stock outstanding during the period. Diluted earnings (loss) per share of Class A and Class D common stock is computed by dividing net income (loss) attributable to Dutch Bros Inc., adjusted for the assumed exchange of all potentially dilutive instruments for Class A common stock, by the weighted-average number of shares of Class A and Class D common stock outstanding, adjusted to give effect to potentially dilutive elements. Share counts used in the diluted earnings (loss) per share calculations are adjusted for the deemed repurchases provided for in the treasury stock method for restricted stock awards and restricted stock units, and under the if-converted method for the outstanding convertible Class B and Class C common stock, if dilutive.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The basic and diluted earnings (loss) per share calculations for the year ended December 31, 2021 represent the post-IPO period from September 14, 2021 to December 31, 2021 only.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Prior to the IPO, the Dutch Bros OpCo membership structure included common units, redeemable common units, and PI units. The Company analyzed the calculation of earnings (loss) per unit for periods </span></div>prior to the IPO and determined that it resulted in values that would not be meaningful to the users of these consolidated financial statements. Therefore, earnings (loss) per unit information has not been presented for the year ended December 31, 2020. <div style="margin-bottom:9pt;text-align:justify"><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Recently Issued Accounting Standards</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In December 2022, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2022-06, </span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848</span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. The amendments in this update extend the transition relief period for reference rate reform from December 31, 2022 to December 31, 2024. The amendments in ASU 2022-06 apply to all entities, subject to meeting certain criteria, that have contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. ASU 2022-06 was effective upon issuance. The new standard has had no material impact on the Company's consolidated financial statements.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In October 2021, the FASB issued ASU No. 2021-08, </span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers</span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. The amendments in this update provide specific guidance to address diversity in practice related to (1) recognition of an acquired contract liability, and (2) payment terms and their effect on subsequent revenue recognized by the acquirer. The amendments in ASU 2021-08 are applied on a prospective basis, and are effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. Early adoption is permitted. The Company does not expect this standard to have a material impact on its consolidated financial statements.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Recently Adopted Accounting Standards</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In June 2016, the FASB issued ASU No. 2016-13, </span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Financial Instruments—Credit Losses</span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">(Topic 326)</span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">: </span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Measurement of Credit Losses on Financial Instruments</span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. ASU 2016-13, as amended, replaces the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. For accounts receivable and other financial instruments, the Company will be required to use a forward-looking expected loss model rather than the incurred loss model for recognizing credit losses which reflects losses that are probable. Application of the amendments is through a cumulative-effect adjustment to retained earnings as of the effective date. ASU 2016-13, as amended, is effective for fiscal years beginning after December 15, 2022. The Company has completed its evaluation and adoption of ASU 2016-13, as amended, and as of January 1, 2022 had no material impact on its consolidated financial statements.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In February 2016, the FASB issued ASU No. 2016-02, </span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Leases (Topic 842</span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">). The pronouncement requires lessees to recognize a liability for lease obligations, which represent the discounted obligation to make future lease payments, and a corresponding right-of-use asset on the balance sheet, as well as new disclosure requirements. The Company adopted Topic 842 effective January 1, 2022 using the modified transition approach. For additional information, refer to NOTE 8 — Leases.</span></div> <div style="margin-bottom:9pt"><span style="color:#00416b;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:120%">NOTE 3 — Revenue Recognition</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Revenue</span></div><div style="margin-bottom:9pt"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table disaggregates revenue by major component:</span></div><div style="margin-bottom:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:61.880%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.598%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.598%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.601%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Year Ended December 31,</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2022</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2021</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2020</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Company-operated shops</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">639,710 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">403,746 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">244,514 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Franchising</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">93,756 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">87,465 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">77,625 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Other</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">5,546 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">6,665 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">5,274 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total revenues</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">739,012 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">497,876 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">327,413 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Deferred Revenue </span></div><div style="margin-bottom:9pt"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Deferred revenue activity related to the Company’s loyalty and gift card programs was as follows:</span></div><div style="margin-bottom:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:69.733%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.842%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.843%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Year Ended December 31,</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2022</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2021</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Balance, December 31</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">22,765 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">10,576 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Revenue deferred - gift card activations, loyalty app loads, and loyalty points and rewards earned</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">261,909 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">161,134 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Revenue recognized - gift card, loyalty app, and loyalty rewards redemptions, and breakage</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(257,770)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(148,945)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Balance, December 31</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">26,904 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">22,765 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Less: current portion</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(22,748)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(19,843)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Deferred revenue, net of current portion, gift card and loyalty programs</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">4,156 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,922 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Revenue recognized related to loyalty points collected that was included in deferred revenue as of the end of the previous year was $9.2 million for the year ended December 31, 2022. See NOTE 2 — Basis of Presentation and Summary of Significant Accounting Policies for further details. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Revenue recognized related to gift card redemptions that was included in deferred revenue as of the end of the previous years was $4.0 million and $3.8 million for the year ended December 31, 2022 and 2021, respectively. These amounts exclude cash loads and transactions for the Company’s loyalty rewards program. </span></div><div style="text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Deferred revenue also includes sales to distributors where the performance obligation has not been satisfied and control has not been transferred to the customer as of the reporting date, as well as initial unearned franchise fees from franchise partners. These deferred revenues reported in the Company’s consolidated balance sheets were as follows:</span></div><div style="margin-bottom:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:67.329%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.124%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:13.965%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">December 31, 2022</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">December 31, 2021</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Outstanding performance obligations</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #131e29;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #131e29;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,152 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #131e29;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,512 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Initial unearned franchise fees from franchise partners</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,398 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,560 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total deferred revenue, excluding gift card and loyalty programs</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">4,550 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">5,072 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Less: current portion</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(2,587)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(2,964)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Deferred revenue, net of current portion, excluding gift card and loyalty programs</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,963 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,108 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Revenue recognized from initial unearned franchise fees was as follows for the periods presented:</span></div><div style="margin-bottom:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:61.880%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.598%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.598%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.601%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Year Ended December 31,</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2022</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2021</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2020</span></td></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Earned franchise fees</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">507 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">630 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">496 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Revenue recognized from earned franchise fees that was included in unearned revenue at the beginning of the year was $0.5 million and $0.6 million for the years ended December 31, 2022 and 2021, respectively. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Future amortization of initial unearned franchise fees as of December 31, 2022 is as follows:</span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:84.316%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.843%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2023</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">434 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2024</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">376 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2025</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">322 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2026</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">280 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2027</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">235 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Thereafter</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">751 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,398 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div> <div style="margin-bottom:9pt"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table disaggregates revenue by major component:</span></div><div style="margin-bottom:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:61.880%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.598%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.598%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.601%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Year Ended December 31,</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2022</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2021</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2020</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Company-operated shops</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">639,710 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">403,746 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">244,514 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Franchising</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">93,756 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">87,465 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">77,625 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Other</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">5,546 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">6,665 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">5,274 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total revenues</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">739,012 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">497,876 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">327,413 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div> 639710000 403746000 244514000 93756000 87465000 77625000 5546000 6665000 5274000 739012000 497876000 327413000 <div style="margin-bottom:9pt"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Deferred revenue activity related to the Company’s loyalty and gift card programs was as follows:</span></div><div style="margin-bottom:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:69.733%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.842%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.843%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Year Ended December 31,</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2022</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2021</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Balance, December 31</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">22,765 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">10,576 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Revenue deferred - gift card activations, loyalty app loads, and loyalty points and rewards earned</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">261,909 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">161,134 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Revenue recognized - gift card, loyalty app, and loyalty rewards redemptions, and breakage</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(257,770)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(148,945)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Balance, December 31</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">26,904 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">22,765 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Less: current portion</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(22,748)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(19,843)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Deferred revenue, net of current portion, gift card and loyalty programs</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">4,156 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,922 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div>These deferred revenues reported in the Company’s consolidated balance sheets were as follows:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:67.329%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.124%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:13.965%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">December 31, 2022</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">December 31, 2021</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Outstanding performance obligations</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #131e29;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #131e29;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,152 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #131e29;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,512 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Initial unearned franchise fees from franchise partners</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,398 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,560 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total deferred revenue, excluding gift card and loyalty programs</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">4,550 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">5,072 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Less: current portion</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(2,587)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(2,964)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Deferred revenue, net of current portion, excluding gift card and loyalty programs</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,963 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,108 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Revenue recognized from initial unearned franchise fees was as follows for the periods presented:</span></div><div style="margin-bottom:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:61.880%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.598%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.598%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.601%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Year Ended December 31,</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2022</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2021</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2020</span></td></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Earned franchise fees</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">507 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">630 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">496 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table></div> 22765000 10576000 261909000 161134000 257770000 148945000 26904000 22765000 22748000 19843000 4156000 2922000 9200000 4000000 3800000 2152000 2512000 2398000 2560000 4550000 5072000 2587000 2964000 1963000 2108000 507000 630000 496000 500000 600000 <div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Future amortization of initial unearned franchise fees as of December 31, 2022 is as follows:</span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:84.316%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.843%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2023</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">434 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2024</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">376 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2025</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">322 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2026</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">280 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2027</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">235 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Thereafter</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">751 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,398 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div> 434000 376000 322000 280000 235000 751000 2398000 <div style="margin-bottom:9pt"><span style="color:#00416b;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:120%">NOTE 4 — Shop Acquisitions</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During the year ended December 31, 2022, the Company repurchased the franchise rights and assets of five shops from one franchise partner in California. For the year ended December 31, 2021, the Company repurchased the franchise rights and assets of seven shops from two separate franchise partners in Washington. The following table summarizes the allocations of the purchase prices to the estimated fair values of assets acquired and liabilities assumed. The fair values for the 2022 and 2021 acquisitions are final.</span></div><div style="margin-bottom:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:65.566%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.925%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.927%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">December 31, 2022</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">December 31, 2021</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Acquisition consideration:</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Purchase price consideration</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">6,051 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">5,387 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Equipment and fixtures</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">197 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">178 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Building and leasehold improvements</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,470 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,425 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Inventories</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">67 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">97 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Other assets</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">6 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">23 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Operating lease right-of-use assets</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,327 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Reacquired franchise rights</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,735 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">3,312 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Other liabilities</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(88)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(95)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Gift card liability</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(250)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(193)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Operating lease obligations</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(2,327)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net assets acquired</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">3,137 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">4,747 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Goodwill</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,914 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">640 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Reacquired franchise rights have weighted-average useful lives of 4.2 and 5.8 years at the time of purchase for the acquisitions made during the years ended December 31, 2022 and 2021, respectively. The excess of the purchase price over the aggregate fair value of net assets acquired was allocated to goodwill and is attributable to the benefits expected as a result of the acquisitions, including sales and growth opportunities, and is expected to be fully deductible for tax purposes. Goodwill is allocated entirely to the Company-operated shops segment.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The fair value measurement of tangible and intangible assets and liabilities as of the acquisition dates is based on significant inputs not observed in the market and thus represents a Level 3 fair value measurement. Fair value measurements for reacquired franchise rights were determined using the income approach. Fair value measurements for property and equipment were determined using the cost approach. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The results of operations for the 2022 acquisitions are included in the Company’s consolidated statements of operations beginning on the dates of acquisition. Revenues of approximately $9.3 million and net income of approximately $1.6 million are included in the Company’s consolidated statements of operations for the year ended December 31, 2022.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table reflects the unaudited pro forma results of the Company and the five shops purchased in 2022 as if the acquisitions had taken place as of January 1, 2021:</span></div><div style="margin-bottom:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:67.810%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:13.803%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:13.805%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Year Ended December 31,</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands; unaudited)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2022</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2021</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Revenue</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">740,964 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">509,566 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net loss</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(18,875)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(115,923)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div> 5 1 7 2 The following table summarizes the allocations of the purchase prices to the estimated fair values of assets acquired and liabilities assumed. The fair values for the 2022 and 2021 acquisitions are final.<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:65.566%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.925%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.927%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">December 31, 2022</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">December 31, 2021</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Acquisition consideration:</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Purchase price consideration</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">6,051 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">5,387 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Equipment and fixtures</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">197 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">178 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Building and leasehold improvements</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,470 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,425 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Inventories</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">67 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">97 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Other assets</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">6 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">23 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Operating lease right-of-use assets</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,327 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Reacquired franchise rights</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,735 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">3,312 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Other liabilities</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(88)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(95)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Gift card liability</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(250)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(193)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Operating lease obligations</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(2,327)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net assets acquired</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">3,137 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">4,747 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Goodwill</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,914 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">640 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table> 6051000 5387000 197000 178000 1470000 1425000 67000 97000 6000 23000 2327000 0 1735000 3312000 88000 95000 250000 193000 2327000 0 3137000 4747000 2914000 640000 P4Y2M12D P5Y9M18D 9300000 1600000 <div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table reflects the unaudited pro forma results of the Company and the five shops purchased in 2022 as if the acquisitions had taken place as of January 1, 2021:</span></div><div style="margin-bottom:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:67.810%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:13.803%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:13.805%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Year Ended December 31,</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands; unaudited)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2022</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2021</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Revenue</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">740,964 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">509,566 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net loss</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(18,875)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(115,923)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div> 5 740964000 509566000 -18875000 -115923000 <div style="margin-bottom:9pt"><span style="color:#00416b;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:120%">NOTE 5 — Inventories</span></div><div style="margin-bottom:9pt"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Inventories, net consist of the following:</span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:67.169%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.124%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.125%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">December 31, 2022</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">December 31, 2021</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Raw materials</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">21,335 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">8,453 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Finished goods</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">17,894 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">14,892 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total inventories</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">39,229 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">23,345 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div>As of December 31, 2022 and 2021, reserves for inventories were $0.1 million and $2.1 million, respectively. <span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Inventories, net consist of the following:</span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:67.169%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.124%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.125%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">December 31, 2022</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">December 31, 2021</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Raw materials</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">21,335 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">8,453 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Finished goods</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">17,894 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">14,892 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total inventories</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">39,229 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">23,345 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table> 21335000 8453000 17894000 14892000 39229000 23345000 100000 2100000 <div style="margin-bottom:9pt"><span style="color:#00416b;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:120%">NOTE 6 — Property and Equipment</span></div><div style="margin-bottom:9pt"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Property and equipment, net consists of the following:</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.839%"><tr><td style="width:1.0%"/><td style="width:51.548%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.442%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.320%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:1.886%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.320%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.442%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.148%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.442%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.152%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="9" style="border-bottom:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:9pt;text-align:center"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Useful Life </span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(Years)</span></div></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">December 31, 2022</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">December 31, 2021</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Software</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="9" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">3</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">7,430 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">7,132 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Equipment and fixtures</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">3</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:6pt;font-weight:400;line-height:120%">—</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">7</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">93,908 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">57,952 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Leasehold improvements</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">5</span></td><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:6pt;font-weight:400;line-height:120%">—</span></td><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">15</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">29,985 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">20,744 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Buildings</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">10</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:6pt;font-weight:400;line-height:120%">—</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">20</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">158,250 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">168,395 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Land</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="9" style="background-color:#d2dce5;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">N/A</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">7,956 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">5,242 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Aircraft </span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">1</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="9" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">N/A</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">9,195 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">9,531 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Construction-in-progress </span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">2</span></div></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="9" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">N/A</span></div></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">131,240 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">88,050 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Property and equipment, gross</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">437,964 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">357,046 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Less: accumulated depreciation</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(72,496)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(55,048)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Property and equipment, net</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">365,468 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">301,998 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">_______________</span></div><div style="margin-bottom:9pt;padding-left:9pt;text-align:justify;text-indent:-9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">1</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">    Aircraft is depreciated under the consumption method.</span></div><div style="margin-bottom:9pt;padding-left:9pt;text-indent:-9pt"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">2    </span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Construction-in-progress primarily consists of construction and equipment costs for new and existing shops, as well as our new roasting facility in Texas.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Depreciation expense included in the Company’s consolidated statements of operations was as follows:</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:61.880%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.598%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.598%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.601%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Year Ended December 31,</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2022</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2021 ¹</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2020 ¹</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Cost of sales</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">26,261 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">19,023 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">11,426 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Selling, general and administrative expenses</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,705 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,663 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,451 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total depreciation expense</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">28,966 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">21,686 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">12,877 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">_______________</span></div><div style="margin-bottom:9pt;padding-left:9pt;text-align:justify;text-indent:-9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">1</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">    2021 and 2020 include depreciation for capital leases under ASC 840, however see NOTE 8 — Leases for 2022 amortization related to financing leases under ASC 842. </span></div><div style="margin-bottom:9pt"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">No impairment charges were recognized for the years ended December 31, 2022, 2021, and 2020.</span></div> P3Y 7430000 7132000 P3Y P7Y 93908000 57952000 P5Y P15Y 29985000 20744000 P10Y P20Y 158250000 168395000 7956000 5242000 9195000 9531000 131240000 88050000 437964000 357046000 72496000 55048000 365468000 301998000 26261000 19023000 11426000 2705000 2663000 1451000 28966000 21686000 12877000 0 0 0 <div style="margin-bottom:9pt"><span style="color:#00416b;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:120%">NOTE 7 — Intangible Assets and Goodwill</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Intangible Assets</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The details of the intangible assets are as follows:</span></div><div style="margin-bottom:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:44.252%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td style="width:1.0%"/><td style="width:21.175%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.124%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.126%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Weighted-average amortization period </span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in years)</span></div></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">December 31, 2022</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">December 31, 2021</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Reacquired franchise rights</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #131e29;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">3.5</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #131e29;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #131e29;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">27,049 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #131e29;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #131e29;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #131e29;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">25,314 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #131e29;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Less: accumulated amortization</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(18,245)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(14,211)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Intangibles, net</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">8,804 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">11,103 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Amortization expense included in the Company’s consolidated statements of operations was as follows:</span></div><div style="margin-bottom:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:61.880%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.598%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.598%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.601%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Year Ended December 31,</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2022</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2021</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2020</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Cost of sales</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">4,034 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">3,531 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,660 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The estimated future amortization expense of the reacquired franchise rights as of December 31, 2022 is as follows:</span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:84.316%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.843%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #131e29;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2023</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">3,389 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2024</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,469 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2025</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,435 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2026</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">681 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2027</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">383 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Thereafter</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">447 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total </span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #131e29;border-top:1pt solid #131e29;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #131e29;border-top:1pt solid #131e29;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">8,804 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #131e29;border-top:1pt solid #131e29;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Goodwill</span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"> </span><span style="color:#ee2724;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"> </span></div><div style="text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Goodwill is allocated entirely to the Company-operated shops segment. The carrying amount and activity of goodwill was as follows:</span></div><div style="margin-bottom:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:84.316%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td style="width:1.0%"/><td style="width:12.843%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Balance, December 31, 2020</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">18,075 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Business combinations</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">640 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Balance, December 31, 2021</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">18,715 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Business combinations</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,914 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Balance, December 31, 2022</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">21,629 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">No impairment charges were recognized for the years ended December 31, 2022, 2021, and 2020.</span></div> <div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The details of the intangible assets are as follows:</span></div><div style="margin-bottom:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:44.252%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td style="width:1.0%"/><td style="width:21.175%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.124%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.126%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Weighted-average amortization period </span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in years)</span></div></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">December 31, 2022</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">December 31, 2021</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Reacquired franchise rights</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #131e29;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">3.5</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #131e29;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #131e29;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">27,049 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #131e29;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #131e29;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #131e29;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">25,314 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #131e29;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Less: accumulated amortization</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(18,245)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(14,211)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Intangibles, net</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">8,804 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">11,103 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div> P3Y6M 27049000 25314000 18245000 14211000 8804000 11103000 <div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Amortization expense included in the Company’s consolidated statements of operations was as follows:</span></div><div style="margin-bottom:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:61.880%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.598%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.598%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.601%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Year Ended December 31,</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2022</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2021</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2020</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Cost of sales</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">4,034 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">3,531 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,660 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The estimated future amortization expense of the reacquired franchise rights as of December 31, 2022 is as follows:</span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:84.316%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.843%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #131e29;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2023</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">3,389 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2024</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,469 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2025</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,435 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2026</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">681 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2027</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">383 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Thereafter</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">447 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total </span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #131e29;border-top:1pt solid #131e29;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #131e29;border-top:1pt solid #131e29;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">8,804 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #131e29;border-top:1pt solid #131e29;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div> 4034000 3531000 2660000 3389000 2469000 1435000 681000 383000 447000 8804000 The carrying amount and activity of goodwill was as follows:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:84.316%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td style="width:1.0%"/><td style="width:12.843%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Balance, December 31, 2020</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">18,075 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Business combinations</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">640 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Balance, December 31, 2021</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">18,715 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Business combinations</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,914 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Balance, December 31, 2022</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">21,629 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table> 18075000 640000 18715000 2914000 21629000 0 0 0 <span style="color:#00416b;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:120%">NOTE 8 — Leases</span><span style="color:#ee2724;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span><div style="margin-bottom:9pt;text-align:justify"><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Adoption of ASC 842</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company adopted ASC 842, as amended, using the modified retrospective transition method with an effective date of January 1, 2022. The modified retrospective approach permits a company to use its effective date as the date of initial application to apply the standard to its leases, and, therefore, not restate comparative prior period financial information. As such, results for reporting periods beginning on or after January 1, 2022 are presented under ASC 842. Prior period amounts were not revised and continue to be reported in accordance with ASC Topic 840 (ASC 840). Further, disclosures required under the new standard will not be provided for dates and periods prior to January 1, 2022. The adoption of the lease standard resulted in a cumulative adjustment to opening equity of $0.4 million, as provided in the table below.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Subsequent to the Company’s January 1, 2022 adoption of the lease standard, the Company continued to review relevant lease contract elements and improve business processes, which resulted in adjustments to the Company’s adoption entries and presentation. The impacts of the adjustments were recorded during 2022, and are presented in the table below and in the consolidated financial statements.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Upon adoption, the Company recognized operating lease liabilities of $152.8 million based on the present value of the remaining lease payments for existing operating leases, and operating right-of-use assets of $150.7 million, net of reductions for the impacts of deferred rents. As part of the transition, the Company derecognized all landlord funded lease incentives and deemed landlord financing liabilities, including capital assets related to previous sale and leaseback transactions which were remeasured under ASC 842 adoption requirements.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The standard provides several optional practical expedients in transition. The Company elected the package of practical expedients, which permits it to not reassess, under the new standard, the Company's prior conclusions about lease identification, lease classification and initial direct costs. As such, the Company applied the modified retrospective transition method as of the adoption date to those lease contracts for which it had taken possession of the property as of January 1, 2022. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company also elected the practical expedient pertaining to land easements and did not elect the practical expedient related to use-of-hindsight. The new standard also provides practical expedients for an entity’s ongoing accounting. The Company elected the short-term lease recognition exemption and also the practical expedient to not separate lease and non-lease components for all its leases.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Upon transition, the Company recorded the following increases (decreases) to the respective line items on its consolidated balance sheet:</span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:41.367%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:18.771%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:13.002%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:20.537%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Adjustments as of January 1, 2022</span></div><div style="text-align:center"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(As Reported)</span></div></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Subsequent Adjustments </span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Cumulative Adjustments as of December 31, 2022</span></div><div style="text-align:center"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(As Corrected)</span></div></td></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #131e29;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Property and equipment, net</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #131e29;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #131e29;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(79,821)</span></td><td style="background-color:#d2dce5;border-top:1pt solid #131e29;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(6,171)</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(85,992)</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Finance lease right-of-use assets, net</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">111,826 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">3,745 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">115,571 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Operating lease right-of-use assets, net</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">150,689 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">150,689 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Deferred rent</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(3,153)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(3,153)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Current portion of finance lease liabilities</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">607 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">607 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Current portion of operating lease liabilities</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">8,430 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">8,430 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Current portion of long-term debt</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(46)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(46)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Finance lease liabilities, net of current portion</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">32,534 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">32,534 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Operating lease liabilities, net of <br/>current portion</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">144,405 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">144,405 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Long-term debt, net of current portion</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(1,426)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(1,506)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(2,932)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Accumulated deficit</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">386 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(264)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">122 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Non-controlling interests</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">957 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(656)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">301 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Nature of Leases</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company leases all of its domestic company-operated shops, warehouse facilities, most headquarters buildings, and certain equipment under various non-cancelable lease agreements that expire on various dates through 2042. The Company evaluates contracts entered into to determine whether the contract involves the use of property or equipment, which is either explicitly or implicitly identified in the contract. The Company evaluates whether it controls the use of the asset, which is determined by assessing whether it obtains substantially all economic benefits from the use of the asset, and whether the Company has the right to direct the use of the asset. If these criteria are met, a lease has been identified and if it has a term greater than one year, the Company accounts for the contract under the requirements of ASC 842.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Lease commencement is determined when the Company takes possession of a leased asset, at which time the Company also determines the lease classification as an operating or finance lease. The Company’s real estate leases consist of commercial ground leases (land only) and build-to-suit leases (land and building).</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The real estate leases are a combination of both operating and finance leases, depending on evaluation of the lease terms. Generally, the Company’s real estate leases have an initial term of 15 years and typically include two to three renewal options of five-years each. These renewal options are included in the lease term when it is reasonably certain that the option will be exercised. For commercial ground leases, one five-year renewal is included in the Company’s initial lease term calculations. The Company’s real estate leases typically provide for fixed minimum rent payments. For operating leases, the Company recognizes lease expense on a straight-line basis over the lease term from the date the Company takes possession of the leased property. Lease expense incurred prior to lease commencement is included in the calculation of the right-of-use asset. Once a lease commences, the Company records lease expense in cost of sales on the Company’s consolidated statements of operations. Variable lease costs generally include payments for additional rent such as real estate taxes, insurance, and common area maintenance, and are excluded from the measurement of the lease liability. Variable lease costs are included in cost of sales on the consolidated statements of operations.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company calculates right-of-use assets and lease liabilities based on the present value of the fixed lease payments, including any estimated lease incentives, at lease commencement using its incremental borrowing rate, which is established by a third party, and applied on a portfolio basis. As the interest rate implicit in the Company’s leases cannot be readily determined, the discount rate used to measure the lease liability is equal to the rate the Company would pay on a collateralized basis to borrow an amount equal to the lease payments under similar terms.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company expends cash for leasehold improvements to build out and equip its leased premises. For certain leases, a portion of the leasehold improvements and building costs are reimbursed by landlords as landlord incentives pursuant to agreed-upon terms in the Company’s lease agreements. Landlord incentives, if obtained, are received in cash after the Company takes possession of the property, and as the Company meets required milestones during the construction of the property. The Company includes these amounts in the measurement of the initial right-of-use asset and lease liability.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">A summary of finance and operating lease right-of-use assets and lease liabilities as of December 31, 2022 is as follows:</span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:31.271%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:48.098%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.049%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Balance Sheet Classification</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">December 31, 2022</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Right-of-use assets</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Finance leases</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Finance lease right-of-use assets, net</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">247,943 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Operating leases</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Operating lease right-of-use assets, net</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">169,302 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Total right-of-use assets</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">417,245 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr style="height:14pt"><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:3pt double #000;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Lease liabilities</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Finance leases</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Current portion of finance lease liabilities</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">7,971 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Finance lease liabilities, net of current portion</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">237,130 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr style="height:15pt"><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Operating leases</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Current portion of operating lease liabilities</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">9,317 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Operating lease liabilities, net of current portion</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">161,228 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Total lease liabilities</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">415,646 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The components of lease cost were as follows for the period presented:</span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:53.066%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:26.303%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.049%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Statement of Operations Classification</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Year Ended December 31, 2022</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Finance lease cost</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Amortization of right-of-use assets</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Cost of sales</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">11,728 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Interest on lease liabilities</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Interest expense</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">9,263 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total finance lease cost</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">20,991 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr style="height:14pt"><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Operating lease cost</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Cost of sales</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">16,465 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Variable lease cost</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Cost of sales</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">3,979 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Total lease cost</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">41,435 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Future minimum lease payments for finance and operating lease liabilities as of December 31, 2022 were as follows:</span></div><div style="margin-bottom:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:63.323%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.047%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.048%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Finance</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Operating</span></td></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2023</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">20,654 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">16,258 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2024</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">20,965 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">15,926 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2025</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">21,188 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">15,692 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2026</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">21,508 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">15,538 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2027</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">22,220 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">15,211 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Thereafter</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">263,381 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">154,510 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">369,916 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">233,135 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Less: imputed interest</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:3pt double #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(124,815)</span></td><td style="background-color:#ffffff;border-top:3pt double #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:3pt double #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(62,590)</span></td><td style="background-color:#ffffff;border-top:3pt double #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Present value of minimum lease payments</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">245,101 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">170,545 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Less: current portion</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(7,971)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(9,317)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Lease liabilities, net of current portion</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">237,130 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">161,228 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Future minimum lease payments under noncancellable operating leases and capital lease liabilities as of December 31, 2021 were as follows:</span></div><div style="margin-bottom:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:63.323%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.047%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.048%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Capital</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Operating</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2022</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">8,824 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">12,398 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2023</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">8,672 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">12,002 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2024</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">8,743 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">11,699 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2025</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">8,926 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">11,420 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2026</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">9,229 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">11,297 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Thereafter</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">85,985 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">125,774 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">130,379 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">184,590 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Less: imputed interest</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:3pt double #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(47,402)</span></td><td style="background-color:#ffffff;border-top:3pt double #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Present value of minimum lease payments</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">82,977 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Less: current portion</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(3,389)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Lease liabilities, net of current portion</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">79,588 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">A summary of lease terms and discount rates for finance and operating leases as of December 31, 2022 is as follows:</span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:81.432%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:15.727%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">December 31, 2022</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #131e29;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Weighted-average remaining lease term (years)</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Finance leases</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">16.1</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Operating leases</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">14.9</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Weighted-average discount rate (percentages)</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Finance leases</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">5.3%</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Operating leases</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">4.2%</span></td></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Supplemental cash flow information related to leases as of December 31, 2022 is as follows for the period presented:</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:77.585%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:19.574%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Year Ended December 31, 2022</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Cash paid for amounts included in the measurement of lease liabilities:</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Operating cash flows from finance leases</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">9,264 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Operating cash flows from operating leases</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">16,269 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financing cash flows from finance leases</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">5,838 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Right-of-use assets obtained in exchange for lease obligations </span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:700;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">1</span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">:</span></div></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Finance leases</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">167,687 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Operating leases</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">178,138 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table></div><div style="margin-bottom:9pt"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">_________________</span></div>1    Amounts include the transition adjustment for the adoption of ASU 2016-02, as amended. <span style="color:#00416b;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:120%">NOTE 8 — Leases</span><span style="color:#ee2724;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span><div style="margin-bottom:9pt;text-align:justify"><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Adoption of ASC 842</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company adopted ASC 842, as amended, using the modified retrospective transition method with an effective date of January 1, 2022. The modified retrospective approach permits a company to use its effective date as the date of initial application to apply the standard to its leases, and, therefore, not restate comparative prior period financial information. As such, results for reporting periods beginning on or after January 1, 2022 are presented under ASC 842. Prior period amounts were not revised and continue to be reported in accordance with ASC Topic 840 (ASC 840). Further, disclosures required under the new standard will not be provided for dates and periods prior to January 1, 2022. The adoption of the lease standard resulted in a cumulative adjustment to opening equity of $0.4 million, as provided in the table below.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Subsequent to the Company’s January 1, 2022 adoption of the lease standard, the Company continued to review relevant lease contract elements and improve business processes, which resulted in adjustments to the Company’s adoption entries and presentation. The impacts of the adjustments were recorded during 2022, and are presented in the table below and in the consolidated financial statements.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Upon adoption, the Company recognized operating lease liabilities of $152.8 million based on the present value of the remaining lease payments for existing operating leases, and operating right-of-use assets of $150.7 million, net of reductions for the impacts of deferred rents. As part of the transition, the Company derecognized all landlord funded lease incentives and deemed landlord financing liabilities, including capital assets related to previous sale and leaseback transactions which were remeasured under ASC 842 adoption requirements.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The standard provides several optional practical expedients in transition. The Company elected the package of practical expedients, which permits it to not reassess, under the new standard, the Company's prior conclusions about lease identification, lease classification and initial direct costs. As such, the Company applied the modified retrospective transition method as of the adoption date to those lease contracts for which it had taken possession of the property as of January 1, 2022. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company also elected the practical expedient pertaining to land easements and did not elect the practical expedient related to use-of-hindsight. The new standard also provides practical expedients for an entity’s ongoing accounting. The Company elected the short-term lease recognition exemption and also the practical expedient to not separate lease and non-lease components for all its leases.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Upon transition, the Company recorded the following increases (decreases) to the respective line items on its consolidated balance sheet:</span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:41.367%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:18.771%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:13.002%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:20.537%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Adjustments as of January 1, 2022</span></div><div style="text-align:center"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(As Reported)</span></div></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Subsequent Adjustments </span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Cumulative Adjustments as of December 31, 2022</span></div><div style="text-align:center"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(As Corrected)</span></div></td></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #131e29;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Property and equipment, net</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #131e29;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #131e29;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(79,821)</span></td><td style="background-color:#d2dce5;border-top:1pt solid #131e29;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(6,171)</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(85,992)</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Finance lease right-of-use assets, net</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">111,826 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">3,745 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">115,571 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Operating lease right-of-use assets, net</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">150,689 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">150,689 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Deferred rent</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(3,153)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(3,153)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Current portion of finance lease liabilities</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">607 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">607 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Current portion of operating lease liabilities</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">8,430 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">8,430 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Current portion of long-term debt</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(46)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(46)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Finance lease liabilities, net of current portion</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">32,534 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">32,534 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Operating lease liabilities, net of <br/>current portion</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">144,405 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">144,405 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Long-term debt, net of current portion</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(1,426)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(1,506)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(2,932)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Accumulated deficit</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">386 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(264)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">122 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Non-controlling interests</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">957 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(656)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">301 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Nature of Leases</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company leases all of its domestic company-operated shops, warehouse facilities, most headquarters buildings, and certain equipment under various non-cancelable lease agreements that expire on various dates through 2042. The Company evaluates contracts entered into to determine whether the contract involves the use of property or equipment, which is either explicitly or implicitly identified in the contract. The Company evaluates whether it controls the use of the asset, which is determined by assessing whether it obtains substantially all economic benefits from the use of the asset, and whether the Company has the right to direct the use of the asset. If these criteria are met, a lease has been identified and if it has a term greater than one year, the Company accounts for the contract under the requirements of ASC 842.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Lease commencement is determined when the Company takes possession of a leased asset, at which time the Company also determines the lease classification as an operating or finance lease. The Company’s real estate leases consist of commercial ground leases (land only) and build-to-suit leases (land and building).</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The real estate leases are a combination of both operating and finance leases, depending on evaluation of the lease terms. Generally, the Company’s real estate leases have an initial term of 15 years and typically include two to three renewal options of five-years each. These renewal options are included in the lease term when it is reasonably certain that the option will be exercised. For commercial ground leases, one five-year renewal is included in the Company’s initial lease term calculations. The Company’s real estate leases typically provide for fixed minimum rent payments. For operating leases, the Company recognizes lease expense on a straight-line basis over the lease term from the date the Company takes possession of the leased property. Lease expense incurred prior to lease commencement is included in the calculation of the right-of-use asset. Once a lease commences, the Company records lease expense in cost of sales on the Company’s consolidated statements of operations. Variable lease costs generally include payments for additional rent such as real estate taxes, insurance, and common area maintenance, and are excluded from the measurement of the lease liability. Variable lease costs are included in cost of sales on the consolidated statements of operations.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company calculates right-of-use assets and lease liabilities based on the present value of the fixed lease payments, including any estimated lease incentives, at lease commencement using its incremental borrowing rate, which is established by a third party, and applied on a portfolio basis. As the interest rate implicit in the Company’s leases cannot be readily determined, the discount rate used to measure the lease liability is equal to the rate the Company would pay on a collateralized basis to borrow an amount equal to the lease payments under similar terms.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company expends cash for leasehold improvements to build out and equip its leased premises. For certain leases, a portion of the leasehold improvements and building costs are reimbursed by landlords as landlord incentives pursuant to agreed-upon terms in the Company’s lease agreements. Landlord incentives, if obtained, are received in cash after the Company takes possession of the property, and as the Company meets required milestones during the construction of the property. The Company includes these amounts in the measurement of the initial right-of-use asset and lease liability.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">A summary of finance and operating lease right-of-use assets and lease liabilities as of December 31, 2022 is as follows:</span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:31.271%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:48.098%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.049%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Balance Sheet Classification</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">December 31, 2022</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Right-of-use assets</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Finance leases</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Finance lease right-of-use assets, net</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">247,943 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Operating leases</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Operating lease right-of-use assets, net</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">169,302 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Total right-of-use assets</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">417,245 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr style="height:14pt"><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:3pt double #000;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Lease liabilities</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Finance leases</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Current portion of finance lease liabilities</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">7,971 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Finance lease liabilities, net of current portion</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">237,130 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr style="height:15pt"><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Operating leases</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Current portion of operating lease liabilities</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">9,317 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Operating lease liabilities, net of current portion</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">161,228 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Total lease liabilities</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">415,646 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The components of lease cost were as follows for the period presented:</span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:53.066%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:26.303%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.049%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Statement of Operations Classification</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Year Ended December 31, 2022</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Finance lease cost</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Amortization of right-of-use assets</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Cost of sales</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">11,728 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Interest on lease liabilities</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Interest expense</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">9,263 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total finance lease cost</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">20,991 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr style="height:14pt"><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Operating lease cost</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Cost of sales</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">16,465 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Variable lease cost</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Cost of sales</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">3,979 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Total lease cost</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">41,435 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Future minimum lease payments for finance and operating lease liabilities as of December 31, 2022 were as follows:</span></div><div style="margin-bottom:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:63.323%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.047%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.048%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Finance</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Operating</span></td></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2023</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">20,654 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">16,258 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2024</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">20,965 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">15,926 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2025</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">21,188 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">15,692 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2026</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">21,508 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">15,538 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2027</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">22,220 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">15,211 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Thereafter</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">263,381 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">154,510 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">369,916 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">233,135 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Less: imputed interest</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:3pt double #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(124,815)</span></td><td style="background-color:#ffffff;border-top:3pt double #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:3pt double #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(62,590)</span></td><td style="background-color:#ffffff;border-top:3pt double #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Present value of minimum lease payments</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">245,101 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">170,545 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Less: current portion</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(7,971)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(9,317)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Lease liabilities, net of current portion</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">237,130 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">161,228 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Future minimum lease payments under noncancellable operating leases and capital lease liabilities as of December 31, 2021 were as follows:</span></div><div style="margin-bottom:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:63.323%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.047%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.048%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Capital</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Operating</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2022</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">8,824 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">12,398 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2023</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">8,672 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">12,002 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2024</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">8,743 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">11,699 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2025</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">8,926 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">11,420 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2026</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">9,229 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">11,297 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Thereafter</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">85,985 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">125,774 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">130,379 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">184,590 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Less: imputed interest</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:3pt double #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(47,402)</span></td><td style="background-color:#ffffff;border-top:3pt double #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Present value of minimum lease payments</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">82,977 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Less: current portion</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(3,389)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Lease liabilities, net of current portion</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">79,588 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">A summary of lease terms and discount rates for finance and operating leases as of December 31, 2022 is as follows:</span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:81.432%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:15.727%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">December 31, 2022</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #131e29;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Weighted-average remaining lease term (years)</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Finance leases</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">16.1</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Operating leases</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">14.9</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Weighted-average discount rate (percentages)</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Finance leases</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">5.3%</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Operating leases</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">4.2%</span></td></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Supplemental cash flow information related to leases as of December 31, 2022 is as follows for the period presented:</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:77.585%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:19.574%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Year Ended December 31, 2022</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Cash paid for amounts included in the measurement of lease liabilities:</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Operating cash flows from finance leases</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">9,264 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Operating cash flows from operating leases</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">16,269 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financing cash flows from finance leases</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">5,838 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Right-of-use assets obtained in exchange for lease obligations </span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:700;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">1</span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">:</span></div></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Finance leases</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">167,687 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Operating leases</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">178,138 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table></div><div style="margin-bottom:9pt"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">_________________</span></div>1    Amounts include the transition adjustment for the adoption of ASU 2016-02, as amended. 400000 152800000 150700000 <div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Upon transition, the Company recorded the following increases (decreases) to the respective line items on its consolidated balance sheet:</span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:41.367%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:18.771%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:13.002%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:20.537%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Adjustments as of January 1, 2022</span></div><div style="text-align:center"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(As Reported)</span></div></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Subsequent Adjustments </span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Cumulative Adjustments as of December 31, 2022</span></div><div style="text-align:center"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(As Corrected)</span></div></td></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #131e29;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Property and equipment, net</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #131e29;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #131e29;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(79,821)</span></td><td style="background-color:#d2dce5;border-top:1pt solid #131e29;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(6,171)</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(85,992)</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Finance lease right-of-use assets, net</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">111,826 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">3,745 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">115,571 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Operating lease right-of-use assets, net</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">150,689 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">150,689 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Deferred rent</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(3,153)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(3,153)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Current portion of finance lease liabilities</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">607 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">607 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Current portion of operating lease liabilities</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">8,430 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">8,430 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Current portion of long-term debt</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(46)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(46)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Finance lease liabilities, net of current portion</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">32,534 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">32,534 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Operating lease liabilities, net of <br/>current portion</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">144,405 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">144,405 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Long-term debt, net of current portion</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(1,426)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(1,506)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(2,932)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Accumulated deficit</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">386 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(264)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">122 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Non-controlling interests</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">957 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(656)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">301 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div> -79821000 -6171000 -85992000 111826000 3745000 115571000 150689000 0 150689000 -3153000 0 -3153000 607000 0 607000 8430000 0 8430000 -46000 0 -46000 32534000 0 32534000 144405000 0 144405000 -1426000 -1506000 -2932000 386000 -264000 122000 957000 -656000 301000 P15Y 2 3 P5Y 1 P5Y <div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">A summary of finance and operating lease right-of-use assets and lease liabilities as of December 31, 2022 is as follows:</span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:31.271%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:48.098%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.049%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Balance Sheet Classification</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">December 31, 2022</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Right-of-use assets</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Finance leases</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Finance lease right-of-use assets, net</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">247,943 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Operating leases</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Operating lease right-of-use assets, net</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">169,302 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Total right-of-use assets</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">417,245 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr style="height:14pt"><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:3pt double #000;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Lease liabilities</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Finance leases</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Current portion of finance lease liabilities</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">7,971 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Finance lease liabilities, net of current portion</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">237,130 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr style="height:15pt"><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Operating leases</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Current portion of operating lease liabilities</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">9,317 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Operating lease liabilities, net of current portion</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">161,228 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Total lease liabilities</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">415,646 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">A summary of lease terms and discount rates for finance and operating leases as of December 31, 2022 is as follows:</span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:81.432%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:15.727%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">December 31, 2022</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #131e29;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Weighted-average remaining lease term (years)</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Finance leases</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">16.1</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Operating leases</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">14.9</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Weighted-average discount rate (percentages)</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Finance leases</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">5.3%</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Operating leases</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">4.2%</span></td></tr></table></div> 247943000 169302000 417245000 7971000 237130000 9317000 161228000 415646000 <div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The components of lease cost were as follows for the period presented:</span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:53.066%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:26.303%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.049%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Statement of Operations Classification</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Year Ended December 31, 2022</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Finance lease cost</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Amortization of right-of-use assets</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Cost of sales</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">11,728 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Interest on lease liabilities</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Interest expense</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">9,263 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total finance lease cost</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">20,991 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr style="height:14pt"><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Operating lease cost</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Cost of sales</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">16,465 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Variable lease cost</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Cost of sales</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">3,979 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Total lease cost</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">41,435 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div> 11728000 9263000 20991000 16465000 3979000 41435000 <div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Future minimum lease payments for finance and operating lease liabilities as of December 31, 2022 were as follows:</span></div><div style="margin-bottom:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:63.323%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.047%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.048%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Finance</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Operating</span></td></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2023</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">20,654 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">16,258 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2024</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">20,965 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">15,926 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2025</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">21,188 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">15,692 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2026</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">21,508 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">15,538 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2027</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">22,220 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">15,211 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Thereafter</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">263,381 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">154,510 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">369,916 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">233,135 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Less: imputed interest</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:3pt double #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(124,815)</span></td><td style="background-color:#ffffff;border-top:3pt double #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:3pt double #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(62,590)</span></td><td style="background-color:#ffffff;border-top:3pt double #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Present value of minimum lease payments</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">245,101 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">170,545 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Less: current portion</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(7,971)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(9,317)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Lease liabilities, net of current portion</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">237,130 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">161,228 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div> <div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Future minimum lease payments for finance and operating lease liabilities as of December 31, 2022 were as follows:</span></div><div style="margin-bottom:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:63.323%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.047%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.048%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Finance</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Operating</span></td></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2023</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">20,654 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">16,258 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2024</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">20,965 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">15,926 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2025</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">21,188 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">15,692 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2026</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">21,508 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">15,538 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2027</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">22,220 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">15,211 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Thereafter</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">263,381 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">154,510 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">369,916 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">233,135 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Less: imputed interest</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:3pt double #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(124,815)</span></td><td style="background-color:#ffffff;border-top:3pt double #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:3pt double #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(62,590)</span></td><td style="background-color:#ffffff;border-top:3pt double #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Present value of minimum lease payments</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">245,101 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">170,545 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Less: current portion</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(7,971)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(9,317)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Lease liabilities, net of current portion</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">237,130 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">161,228 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div> 20654000 16258000 20965000 15926000 21188000 15692000 21508000 15538000 22220000 15211000 263381000 154510000 369916000 233135000 124815000 62590000 245101000 170545000 7971000 9317000 237130000 161228000 <div style="margin-bottom:9pt"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Future minimum lease payments under noncancellable operating leases and capital lease liabilities as of December 31, 2021 were as follows:</span></div><div style="margin-bottom:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:63.323%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.047%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.048%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Capital</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Operating</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2022</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">8,824 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">12,398 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2023</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">8,672 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">12,002 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2024</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">8,743 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">11,699 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2025</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">8,926 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">11,420 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2026</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">9,229 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">11,297 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Thereafter</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">85,985 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">125,774 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">130,379 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">184,590 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Less: imputed interest</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:3pt double #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(47,402)</span></td><td style="background-color:#ffffff;border-top:3pt double #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Present value of minimum lease payments</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">82,977 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Less: current portion</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(3,389)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Lease liabilities, net of current portion</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">79,588 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/></tr></table></div> 8824000 12398000 8672000 12002000 8743000 11699000 8926000 11420000 9229000 11297000 85985000 125774000 130379000 184590000 47402000 82977000 3389000 79588000 P16Y1M6D P14Y10M24D 0.053 0.042 <div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Supplemental cash flow information related to leases as of December 31, 2022 is as follows for the period presented:</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:77.585%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:19.574%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Year Ended December 31, 2022</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Cash paid for amounts included in the measurement of lease liabilities:</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Operating cash flows from finance leases</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">9,264 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Operating cash flows from operating leases</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">16,269 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financing cash flows from finance leases</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">5,838 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Right-of-use assets obtained in exchange for lease obligations </span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:700;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">1</span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">:</span></div></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Finance leases</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">167,687 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Operating leases</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">178,138 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table></div><div style="margin-bottom:9pt"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">_________________</span></div>1    Amounts include the transition adjustment for the adoption of ASU 2016-02, as amended. 9264000 16269000 5838000 167687000 178138000 500000000 250000000 150000000 100000000 50000000 15000000 150000000 P5Y 100000000 28000000 0.0020 0.0045 98100000 112700000 137300000 0.0692 0.0687 <div style="margin-bottom:9pt"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company’s long-term debt consisted of the following for the periods presented:</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:66.367%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.925%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.126%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">December 31, 2022</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">December 31, 2021</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Terms loan under credit facility</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #131e29;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #131e29;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">98,125 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #131e29;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #131e29;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #131e29;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#d2dce5;border-top:1pt solid #131e29;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Finance obligation</span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">1</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,379 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,978 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Unsecured note payable</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">524 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">628 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total debt</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">100,028 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">3,606 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Less: loan origination fees</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(1,122)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Less: current portion</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(2,609)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(103)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total long-term debt, net of current portion</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">96,297 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">3,503 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">_______________</span></div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">1    </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Effective January 1, 2022, with our adoption of ASC 842 (</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">Leases</span>), the 2021 failed sale-leaseback transactions were remeasured and included in our lease obligations. Subsequently we entered into a failed sale-leaseback arrangement under ASC 842 during the first half of 2022. 98125000 0 1379000 2978000 524000 628000 100028000 3606000 1122000 0 2609000 103000 96297000 3503000 <div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Future annual maturities of long-term debt as of December 31, 2022 are as follows: </span><span style="color:#ee2724;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="margin-bottom:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:84.316%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.843%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2023</span></td><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,609 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2024</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">4,491 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2025</span></td><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">6,998 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2026</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">13,256 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2027</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">71,295 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Thereafter</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,379 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">100,028 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div> 2609000 4491000 6998000 13256000 71295000 1379000 100028000 <div style="margin-bottom:9pt"><span style="color:#00416b;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:120%">NOTE 10 — Fair Value Measurements</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company’s consolidated financial statements include cash and cash equivalents, accounts receivable, accounts payable, accrued expenses and other current liabilities, for which the carrying amounts approximate fair value due to their short-term maturity. The fair value of the Company’s variable-rate term loan and revolving loans approximate their carrying amounts; these debt instruments are designated as Level 2 within the fair value hierarchy, as the Company’s cost of borrowing is variable and approximates current market rates. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company has an interest rate swap, which is required to be measured at fair value on a recurring basis. Designated as a Level 2 instrument within the fair value hierarchy, the interest rate swap as of December 31, 2022 had a fair value of $3.2 million, and is recorded as an asset on the Company’s consolidated balance sheet.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The fair value of the Company’s interest rate swap was determined based on the present value of expected future cash flows considering the risks involved, including nonperformance risk, and using discount rates appropriate for the duration based on observable inputs.</span></div>See NOTE 11 — Derivative Financial Instruments for additional details related to the interest rate swap. 3200000 <div style="margin-bottom:9pt"><span style="color:#00416b;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:120%">NOTE 11 — Derivative Financial Instruments</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">From time to time, the Company may enter into interest rate swaps to fix a portion of interest expense. The Company does not enter into derivative instruments for any other purpose other than to manage its risks related to fluctuations in interest rates, and does not engage in interest rate speculation using derivative instruments. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During 2022, the Company entered into a $70 million receive-variable (Receive Leg), pay-fixed (Pay Leg) interest rate swap with JPMorgan Chase Bank, N.A. The interest rate swap matures on February 28, 2027 and has a fixed rate of 2.67% per annum for the Pay Leg. The variable rate on the Receive Leg of the interest rate swap is the one-month adjusted term SOFR rate plus an applicable margin. As of December 31, 2022, the one-month adjusted term SOFR rate was 4.32%. The Company had no derivatives prior to 2022, and as such, no comparable prior years’ information is presented.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company typically designates all interest rate swaps as cash flow hedges, and accordingly, records the change in fair value for the effective portion of the interest rate swap in AOCI rather than in current period earnings until the underlying hedged transaction affects earnings. As of December 31, 2022, the Company expects to reclassify a gain of approximately $1.5 million from AOCI to earnings within the next twelve months. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The fair value and effect of the derivative instrument included in the Company’s consolidated financial statements was as follows:</span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.839%"><tr><td style="width:1.0%"/><td style="width:34.855%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.442%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:41.115%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.442%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:19.446%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Balance Sheet Classification</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">December 31, 2022</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Derivative instrument designated as cash flow hedge:</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Interest rate swap contract</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Prepaid expenses and other current assets</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,457 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Other long-term assets</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,706 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Total derivative instrument designated as cash flow hedge</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">3,163 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:44.252%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:31.111%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:20.055%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Financial Statements Classification</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Year Ended December 31, 2022</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Derivative instrument designated as cash flow hedge:</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Income recognized in other comprehensive income before reclassifications</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Statement of Comprehensive Income</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,966 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Reclassification from accumulated other comprehensive income to earnings for the effective portion</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Statement of Operations - Interest expense, net</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">215 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Income tax expense</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Statement of Operations - Income tax expense</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(273)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table></div><div style="margin-bottom:9pt"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For additional information related to the Company’s derivative, see NOTE 2 — Basis of Presentation and Summary of Significant Accounting Policies and NOTE 10 — Fair Value Measurements.</span></div> 70000000 0.0267 0.0432 1500000 <div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The fair value and effect of the derivative instrument included in the Company’s consolidated financial statements was as follows:</span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.839%"><tr><td style="width:1.0%"/><td style="width:34.855%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.442%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:41.115%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.442%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:19.446%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Balance Sheet Classification</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">December 31, 2022</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Derivative instrument designated as cash flow hedge:</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Interest rate swap contract</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Prepaid expenses and other current assets</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,457 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Other long-term assets</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,706 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Total derivative instrument designated as cash flow hedge</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">3,163 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table></div> 1457000 1706000 3163000 <table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:44.252%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:31.111%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:20.055%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Financial Statements Classification</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Year Ended December 31, 2022</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Derivative instrument designated as cash flow hedge:</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Income recognized in other comprehensive income before reclassifications</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Statement of Comprehensive Income</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,966 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Reclassification from accumulated other comprehensive income to earnings for the effective portion</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Statement of Operations - Interest expense, net</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">215 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Income tax expense</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Statement of Operations - Income tax expense</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(273)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table> 2966000 215000 -273000 <div style="margin-bottom:9pt"><span style="color:#00416b;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:120%">NOTE 12 — Tax Receivable Agreements </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In connection with the Reorganization Transactions and the IPO, the Company entered into (i) the Exchange Tax Receivable Agreement with the holders of Class B common stock and Class C common stock (the Exchange Reorganization Agreement), and (ii) the Reorganization Tax Receivable Agreement </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">with the holders of Class D common stock (the Reorganization Tax Receivable Agreement and together with the Exchange Tax Receivable Agreement, the Tax Receivable Agreements or TRAs). These TRAs provide for the payment by Dutch Bros Inc. or any member of its affiliated, consolidated, combined, or unitary tax group (collectively, the Dutch Bros Tax Group) to such Pre-IPO Owners (pre-IPO Dutch Bros OpCo unitholders and Pre-IPO Blocker Holders) of 85.0% of the benefits, if any, the Dutch Bros Tax Group actually realizes, or is deemed to realize in certain circumstances, as a result of certain tax attributes and benefits covered by the Tax Receivable Agreements. The Exchange Tax Receivable Agreement provides for the payment by members of the Dutch Bros Tax Group to certain Pre-IPO Dutch Bros OpCo Unitholders of 85% of the benefits, if any, that the Dutch Bros Tax Group realizes as a result of (i) the Dutch Bros Tax Group’s allocable share of existing tax basis acquired in the IPO and (ii) increases in the Dutch Bros Tax Group’s allocable share of existing tax basis and tax basis adjustments that will increase the tax basis of the tangible and intangible assets of the Dutch Bros Tax Group as a result of sales or exchanges of OpCo Units for shares of Class A common stock after the IPO, (iii) disproportionate allocations (if any) of tax benefits to Dutch Bros Inc. under section 704(c) of the code as a result of Dutch Bros Inc.’s earlier acquisition of Dutch Bros OpCo Class A common units in connection with the IPO and (iv) certain other tax benefits, including tax benefits attributable to payments under the Exchange Tax Receivable Agreement. The Reorganization Tax Receivable Agreement provides for the payment by Dutch Bros Inc. to the Pre-IPO Blocker Holders of 85% of the benefits, if any, that the Dutch Bros Tax Group realizes as a result of the Dutch Bros Tax Group’s utilization of certain tax attributes of the Blocker Companies (including the Dutch Bros Tax Group’s allocable share of existing tax basis acquired in the Reorganization Transactions), and certain other tax benefits, including tax benefits attributable to payments under the Reorganization Tax Receivable Agreement. The Company expects to benefit from the remaining 15% of any cash savings that it realizes.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company expects to obtain an increase in its share of the tax basis in the net assets of Dutch Bros OpCo when OpCo Units are exchanged by Pre-IPO Dutch Bros OpCo Unitholders. The Company intends to treat any redemptions and exchanges of OpCo Units as direct purchases for U.S. federal income tax purposes. These increases in tax basis may reduce the amounts that it would otherwise pay in the future to various tax authorities. They may also decrease gains (or increase losses) on future dispositions of certain capital assets to the extent tax basis is allocated to those capital assets.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The changes related to the Company’s TRAs were as follows:</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:65.566%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.925%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.927%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">December 31, 2022</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">December 31, 2021</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">TRAs liability, beginning balance</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">109,733 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additions (reductions) to TRAs:</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Exchange of Dutch Bros OpCo Class A common units for Class A common stock</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">114,656 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">109,733 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:12pt"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">TRAs remeasurements </span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">1</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(3,466)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">220,923 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">109,733 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Less: current portion under TRAs liability</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(450)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">TRAs liability, net of current portion, ending balance</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">220,923 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">109,283 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">_________________</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">1 </span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Impact primarily related to state tax rates and adjustments from previous estimates upon finalization of the tax attributes subject to the TRA. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">TRA-related liabilities are classified on the Company’s consolidated balance sheets as current or non-current assets based on the expected date of payment under the captions “Current portion of tax receivable agreements liability” and “Tax receivable agreements liability, net of current portion,” respectively.</span></div> 0.850 0.85 0.85 0.15 <div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The changes related to the Company’s TRAs were as follows:</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:65.566%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.925%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.927%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">December 31, 2022</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">December 31, 2021</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">TRAs liability, beginning balance</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">109,733 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additions (reductions) to TRAs:</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Exchange of Dutch Bros OpCo Class A common units for Class A common stock</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">114,656 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">109,733 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:12pt"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">TRAs remeasurements </span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">1</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(3,466)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">220,923 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">109,733 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Less: current portion under TRAs liability</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(450)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">TRAs liability, net of current portion, ending balance</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">220,923 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">109,283 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">_________________</span></div>1 Impact primarily related to state tax rates and adjustments from previous estimates upon finalization of the tax attributes subject to the TRA. 109733000 0 114656000 109733000 3466000 0 220923000 109733000 0 450000 220923000 109283000 <div style="margin-bottom:9pt"><span style="color:#00416b;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:120%">NOTE 13 — Income Taxes</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company’s income tax expense (benefit) consisted of the following: </span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:61.880%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.598%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.598%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.601%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Year Ended December 31,</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2022</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2021</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2020</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Current tax provision</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Federal</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">181 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">170 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">265 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">State</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,340 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">865 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">706 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total current tax provision</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,521 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,035 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">971 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr style="height:15pt"><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Deferred tax expense (benefit)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Federal</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(6,081)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(2,265)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(107)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">State</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">7,159 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(398)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(21)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total deferred tax provision</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,078 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(2,663)</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(128)</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Income tax expense (benefit)</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,599 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(1,628)</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">843 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company’s effective income tax rate differs from the U.S. federal statutory income tax rate as itemized below: </span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:61.880%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.598%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.598%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.601%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Year Ended December 31,</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2022</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2021</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2020</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #131e29;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">U.S. federal statutory income tax rate</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">21.0 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">21.0 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">21.0 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Income allocable to non-controlling interests not subject to tax</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(32.9)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(18.4)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(18.7)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">State and local income taxes, net of federal benefit</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(9.5)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(0.8)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">10.2 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">State rate adjustment</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(39.1)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net impact of GAAP basis shifts</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(0.2)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Non-deductible compensation</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(2.0)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(0.2)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Tax credits</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">10.1 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">0.3 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">TRA adjustments</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">4.4 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Return-to-provision adjustments</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">32.4 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Other</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(0.3)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Valuation allowance</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(0.3)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Effective income tax rate</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(15.6)</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1.4 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">12.2 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The components of the Company’s deferred tax assets are as follows:</span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:65.566%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.925%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.927%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">December 31, 2022</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">December 31, 2021</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Deferred tax assets</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Investment in Dutch Bros OpCo </span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">255,763 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">148,699 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net operating loss carryforwards</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">19,356 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">6,163 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Interest expense</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">7,781 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">3,007 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Credit carryforwards</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,813 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,142 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Charitable contribution carryforward</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,498 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Other</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,661 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,315 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total deferred tax assets</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">289,872 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">160,326 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Less: valuation allowance</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(1,107)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(1,295)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net deferred tax assets</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">288,765 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">159,031 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company recognizes deferred tax assets to the extent, based on available evidence, that it is more likely than not that they will be realized. In making such a determination, the Company considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax planning strategies, and recent results of operations. For the year ended December 31, 2022, the Company recorded a valuation allowance on its deferred tax assets, primarily related to the Company’s charitable contributions, of which it does not expect to recognize the benefit from in the foreseeable future. The Company has no deferred tax liabilities.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of December 31, 2022, the Company had U.S. federal net operating losses of $74.8 million and tax credit carryforwards of approximately $2.8 million. The Company’s federal net operating losses do not expire and tax credits will begin to expire in 2038 if not utilized. As of December 31, 2022, the Company had $64.7 million of state tax net operating losses and no state tax credits. Of the state tax net operating losses, $59.5 million will begin to expire in 2033 if not utilized and the remaining $5.1 million do not expire. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Utilization of net operating losses, credit carryforwards, and certain deductions may be subject to a substantial annual limitation due to ownership change limitations provided by the Internal Revenue Code of 1986, as amended, and similar state provisions. The tax benefits related to future utilization of federal and state net operating losses, tax credit carryforwards, and other deferred tax assets may be limited or lost if cumulative changes in ownership exceeds 50% within any three-year period. Additional limitations on the use of these tax attributes could occur in the event of possible disputes arising in examinations from various taxing authorities.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">There were no interest and penalties accrued for the years ended December 31, 2022, 2021 and 2020. The Company has assessed its tax positions taken and concluded there are no significant uncertain tax positions. The Company has no unrecognized tax benefits as of December 31, 2022 or 2021, that, if recognized, would affect the amount of income tax expense reported.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company files returns with the Internal Revenue Service and multiple state jurisdictions, which are subject to examination by the taxing authorities for years 2018 and later. The earlier tax years are subject to examination due to the utilization of net operating losses in recent tax years. None of our federal or state income tax returns are currently under examination by federal or state taxing authorities.</span></div> <div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company’s income tax expense (benefit) consisted of the following: </span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:61.880%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.598%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.598%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.601%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Year Ended December 31,</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2022</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2021</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2020</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Current tax provision</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Federal</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">181 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">170 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">265 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">State</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,340 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">865 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">706 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total current tax provision</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,521 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,035 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">971 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr style="height:15pt"><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Deferred tax expense (benefit)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Federal</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(6,081)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(2,265)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(107)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">State</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">7,159 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(398)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(21)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total deferred tax provision</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,078 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(2,663)</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(128)</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Income tax expense (benefit)</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,599 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(1,628)</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">843 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div> 181000 170000 265000 1340000 865000 706000 1521000 1035000 971000 -6081000 -2265000 -107000 7159000 -398000 -21000 1078000 -2663000 -128000 2599000 -1628000 843000 <div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company’s effective income tax rate differs from the U.S. federal statutory income tax rate as itemized below: </span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:61.880%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.598%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.598%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.601%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Year Ended December 31,</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2022</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2021</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2020</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #131e29;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">U.S. federal statutory income tax rate</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">21.0 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">21.0 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">21.0 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Income allocable to non-controlling interests not subject to tax</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(32.9)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(18.4)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(18.7)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">State and local income taxes, net of federal benefit</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(9.5)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(0.8)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">10.2 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">State rate adjustment</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(39.1)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net impact of GAAP basis shifts</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(0.2)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Non-deductible compensation</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(2.0)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(0.2)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Tax credits</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">10.1 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">0.3 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">TRA adjustments</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">4.4 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Return-to-provision adjustments</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">32.4 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Other</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(0.3)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Valuation allowance</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(0.3)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Effective income tax rate</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(15.6)</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1.4 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">12.2 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td></tr></table></div> 0.210 0.210 0.210 -0.329 -0.184 -0.187 -0.095 -0.008 0.102 -0.391 0 0 0 -0.002 0 -0.020 -0.002 0 0.101 0.003 0 0.044 0 0 0.324 0 0 0 0 -0.003 0 -0.003 0 -0.156 0.014 0.122 <div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The components of the Company’s deferred tax assets are as follows:</span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:65.566%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.925%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.927%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">December 31, 2022</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">December 31, 2021</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Deferred tax assets</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Investment in Dutch Bros OpCo </span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">255,763 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">148,699 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net operating loss carryforwards</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">19,356 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">6,163 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Interest expense</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">7,781 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">3,007 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Credit carryforwards</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,813 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,142 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Charitable contribution carryforward</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,498 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Other</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,661 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,315 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total deferred tax assets</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">289,872 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">160,326 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Less: valuation allowance</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(1,107)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(1,295)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net deferred tax assets</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">288,765 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">159,031 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div> 255763000 148699000 19356000 6163000 7781000 3007000 2813000 1142000 1498000 0 2661000 1315000 289872000 160326000 1107000 1295000 288765000 159031000 0 74800000 2800000 64700000 0 59500000 5100000 0 0 0 0 0 NOTE 14 — Equity and Equity-Based Compensation<div style="margin-bottom:9pt;text-align:justify"><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Equity Awards</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of December 31, 2022, the Company had equity-based compensation awards outstanding consisting of RSAs and RSUs. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Unless indicated otherwise, the equity-based compensation awards described below are subject to time-based service requirements. The service vesting condition is currently a period of three years. For awards granted prior to 2022, vesting occurs in approximately one-third installments on each anniversary of the vesting commencement date. Beginning with awards granted in 2022, vesting occurs at 50% of the total award on each of the second and third anniversaries of the vesting commencement date. During 2022, a special grant was awarded to certain management employees with a 100% cliff vesting of the total award on the third anniversary of the vesting commencement date. Vesting of all awards granted are subject to the grantee’s continued service to the Company through the applicable vesting date.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Restricted Stock Awards</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Activity for the Company’s RSAs was as follows:</span></div><div style="margin-bottom:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:59.156%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.047%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:20.215%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands, except per share amounts)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Restricted Stock Awards</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Weighted-average grant date fair value per share</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Balance, December 31, 2020</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Effect of Reorganization Transactions and IPO</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">9,834 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">23.00 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Vested</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(5,834)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">23.00 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Balance, December 31, 2021</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">4,000 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">23.00 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Vested</span></td><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(1,333)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">23.00 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Balance, December 31, 2022</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,667 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">23.00 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Restricted Stock Units</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Activity for the Company’s RSUs was as follows:</span></div><div style="margin-bottom:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:59.156%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.047%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:20.215%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands, except per share amounts)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Restricted Stock Units</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Weighted-average grant date fair value per share</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Balance, December 31, 2020</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Effect of Reorganization Transactions and IPO</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,189 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">43.55 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Vested</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(593)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">43.55 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Balance, December 31, 2021</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">596 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">43.55 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">New grants</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">196 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">45.85 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Vested</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(206)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">51.69 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Forfeitures</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(3)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">47.57 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Balance, December 31, 2022</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">583 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">44.34 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total release date fair value of vested restricted stock awards and units for the years ended December 31, 2022 and 2021 are presented below. The Company had no restricted stock equity awards prior to the Reorganization Transactions in September 2021, and as such, no comparable information for 2020 is presented.</span></div><div style="margin-bottom:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:35.438%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.047%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.842%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.047%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.844%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands, except per share amounts)</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Year Ended December 31, 2022</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Weighted-average vest date fair value per share</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Year Ended December 31, 2021</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Weighted-average vest date fair value per share</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Restricted stock awards</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">69,604 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">52.22 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">134,182 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">23.00 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Restricted stock units</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">10,627 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">51.59 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">26,431 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">44.57 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Equity-Based Compensation</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Equity-based compensation expense is recognized on a straight-line basis and is included in the Company’s consolidated statements of operations as follows:</span></div><div style="margin-bottom:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:61.880%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.598%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.598%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.601%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Year Ended December 31,</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2022</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2021</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2020</span></td></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Selling, general, and administrative expenses</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">41,657 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">157,716 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">35,087 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of December 31, 2022, total unrecognized stock-based compensation related to unvested stock awards was $39.9 million, which will be recognized as follows:</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:84.316%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.843%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2023</span></td><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#d2dce5;border-top:1pt solid #131e29;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #131e29;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">35,695 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #131e29;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2024</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">3,437 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2025</span></td><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">737 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total unrecognized stock-based compensation</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">39,869 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div> P3Y 0.50 0.50 1 <div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Activity for the Company’s RSAs was as follows:</span></div><div style="margin-bottom:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:59.156%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.047%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:20.215%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands, except per share amounts)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Restricted Stock Awards</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Weighted-average grant date fair value per share</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Balance, December 31, 2020</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Effect of Reorganization Transactions and IPO</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">9,834 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">23.00 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Vested</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(5,834)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">23.00 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Balance, December 31, 2021</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">4,000 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">23.00 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Vested</span></td><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(1,333)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">23.00 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Balance, December 31, 2022</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,667 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">23.00 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div> 0 0 9834000 23.00 5834000 23.00 4000000 23.00 1333000 23.00 2667000 23.00 <div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Activity for the Company’s RSUs was as follows:</span></div><div style="margin-bottom:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:59.156%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.047%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:20.215%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands, except per share amounts)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Restricted Stock Units</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Weighted-average grant date fair value per share</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Balance, December 31, 2020</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Effect of Reorganization Transactions and IPO</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,189 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">43.55 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Vested</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(593)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">43.55 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Balance, December 31, 2021</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">596 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">43.55 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">New grants</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">196 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">45.85 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Vested</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(206)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">51.69 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Forfeitures</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(3)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">47.57 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Balance, December 31, 2022</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">583 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">44.34 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total release date fair value of vested restricted stock awards and units for the years ended December 31, 2022 and 2021 are presented below. The Company had no restricted stock equity awards prior to the Reorganization Transactions in September 2021, and as such, no comparable information for 2020 is presented.</span></div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:35.438%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.047%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.842%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.047%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.844%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands, except per share amounts)</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Year Ended December 31, 2022</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Weighted-average vest date fair value per share</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Year Ended December 31, 2021</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Weighted-average vest date fair value per share</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Restricted stock awards</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">69,604 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">52.22 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">134,182 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">23.00 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Restricted stock units</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">10,627 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">51.59 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">26,431 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">44.57 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table> 0 0 1189000 43.55 593000 43.55 596000 43.55 196000 45.85 206000 51.69 3000 47.57 583000 44.34 69604000 52.22 134182000 23.00 10627000 51.59 26431000 44.57 <div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Equity-based compensation expense is recognized on a straight-line basis and is included in the Company’s consolidated statements of operations as follows:</span></div><div style="margin-bottom:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:61.880%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.598%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.598%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.601%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Year Ended December 31,</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2022</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2021</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2020</span></td></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Selling, general, and administrative expenses</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">41,657 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">157,716 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">35,087 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table></div> 41657000 157716000 35087000 <div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of December 31, 2022, total unrecognized stock-based compensation related to unvested stock awards was $39.9 million, which will be recognized as follows:</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:84.316%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.843%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2023</span></td><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#d2dce5;border-top:1pt solid #131e29;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #131e29;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">35,695 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #131e29;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2024</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">3,437 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2025</span></td><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">737 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total unrecognized stock-based compensation</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">39,869 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div> 39900000 35695000 3437000 737000 39869000 <div style="margin-bottom:9pt"><span style="color:#00416b;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:120%">NOTE 15 — Employee Benefit Plans</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company’s 401(k) plan (the 401(k) Plan) covers substantially all employees of the Company who meet certain requirements. Contributions to the 401(k) Plan are determined by each participant by means of an elective compensation deferral, subject to annual limits. The Company matches 100% of employee contributions, up to 4% of eligible compensation. The total employer matching contributions to the 401(k) Plan recognized in the Company’s consolidated statements of operations were as follows:</span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:55.150%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.842%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.842%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.843%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Year Ended December 31,</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2022</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2021</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2020</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Selling, general, and administrative expenses</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,680 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,185 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">714 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div> 1 0.04 The total employer matching contributions to the 401(k) Plan recognized in the Company’s consolidated statements of operations were as follows:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:55.150%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.842%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.842%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.843%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Year Ended December 31,</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2022</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2021</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2020</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Selling, general, and administrative expenses</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,680 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,185 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">714 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table> 1680000 1185000 714000 <div style="margin-bottom:9pt"><span style="color:#00416b;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:120%">NOTE 16 — Non-Controlling Interests</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is the sole managing member of Dutch Bros OpCo, and, as a result, consolidates the financial results of Dutch Bros OpCo. The Company reports a non-controlling interest representing the economic interest in the Dutch Bros OpCo held by the other members of Dutch Bros OpCo. The Dutch Bros OpCo Agreement provides that holders of Dutch Bros OpCo Class A common units may, from time to time, require Dutch Bros OpCo to redeem all or a portion of its Dutch Bros OpCo Class A common units for newly-issued shares of Class A common stock on a one-for-one basis. In connection with any redemption or exchange, the Company will receive a corresponding number of Dutch Bros OpCo Class A common units, increasing the Company’s total ownership in Dutch Bros OpCo. Changes in the Company’s ownership in Dutch Bros OpCo, while the Company retains its controlling interest in Dutch Bros OpCo, will be accounted for as equity transactions. As such, future redemptions or direct exchanges of Dutch Bros OpCo Class A common units in Dutch Bros OpCo by the other members of Dutch Bros OpCo will result in a change in ownership and reduce the amount recorded as non-controlling interest and increase additional paid-in-capital.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table summarizes the ownership interest in Dutch Bros OpCo:</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:65.566%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.925%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.927%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">December 31, 2022</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">OpCo Units</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Ownership %</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Dutch Bros OpCo Class A common units held by Dutch Bros Inc.</span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">1</span></div></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">57,955 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">35.4 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Dutch Bros OpCo Class A common units held by non-controlling interest holders</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">105,756 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">64.6 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total Dutch Bros OpCo Class A common units outstanding</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">163,711 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">100.0 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td></tr></table></div><div style="margin-bottom:9pt"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">_________________</span></div><div style="margin-bottom:9pt;padding-left:9pt;text-align:justify;text-indent:-9pt"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">1    </span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Includes approximately 2.7 million Dutch Bros OpCo Class A common units related to unvested restricted stock awards held by former Profits Interest Units holders. These Dutch Bros OpCo Class A common units are excluded from non-controlling interest calculations.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table summarizes the effect of changes in ownership of Dutch Bros OpCo on the Company’s equity for the periods presented:</span></div><div style="margin-bottom:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:69.733%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.842%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.843%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Year Ended December 31,</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2022</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2021</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net loss attributable to Dutch Bros Inc.</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(4,753)</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(12,679)</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Other comprehensive income:</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Unrealized gain on derivative securities, effective portion, net of income tax expense</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">813 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Transfers from (to) non-controlling interests:</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Decrease in additional paid-in capital as a result of the Reorganization Transactions</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(195,936)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Decrease in accumulated deficit as a result of the adoption of ASC 842</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">122 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Increase in additional paid-in capital as a result of equity-based compensation</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">13,743 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">12,663 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Decrease in additional paid-in capital as a result of common stock issuances pursuant to vesting of equity awards, net of stock withheld for tax</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(1,145)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(3,258)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:9pt"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Increase (decrease) in additional paid-in capital as a result of the acquisition of Dutch Bros OpCo Class A common units</span></div></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">9,410 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(239,132)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Total effect of changes in ownership interest on equity attributable to Dutch Bros Inc.</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">18,190 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(438,342)</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The weighted-average ownership percentage for the applicable reporting period is used to attribute net income (loss) to Dutch Bros Inc. and the non-controlling interest holders. The non-controlling interest holders’ weighted-average ownership percentage were as follows for the periods presented:</span></div><div style="margin-bottom:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:69.733%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.842%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.843%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Year Ended December 31,</span></td></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2022</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2021</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Weighted-average ownership percentage</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">67.8 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">*</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">* The non-controlling interest holders’ weighted-average ownership percentage for the period from the September 14, 2021 Reorganization date to December 31, 2021 was 71.3%.</span></div>The Company had no non-controlling interest holders prior to its Reorganization Transactions in September 2021, and as such, no comparable prior year information for 2020 is presented. 1 <div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table summarizes the ownership interest in Dutch Bros OpCo:</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:65.566%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.925%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.927%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">December 31, 2022</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">OpCo Units</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Ownership %</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Dutch Bros OpCo Class A common units held by Dutch Bros Inc.</span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">1</span></div></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">57,955 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">35.4 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Dutch Bros OpCo Class A common units held by non-controlling interest holders</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">105,756 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">64.6 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total Dutch Bros OpCo Class A common units outstanding</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">163,711 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">100.0 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td></tr></table></div><div style="margin-bottom:9pt"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">_________________</span></div><div style="margin-bottom:9pt;padding-left:9pt;text-align:justify;text-indent:-9pt"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">1    </span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Includes approximately 2.7 million Dutch Bros OpCo Class A common units related to unvested restricted stock awards held by former Profits Interest Units holders. These Dutch Bros OpCo Class A common units are excluded from non-controlling interest calculations.</span></div> 57955000 0.354 105756000 0.646 163711000 1.000 2700000 <div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table summarizes the effect of changes in ownership of Dutch Bros OpCo on the Company’s equity for the periods presented:</span></div><div style="margin-bottom:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:69.733%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.842%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.843%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Year Ended December 31,</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2022</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2021</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net loss attributable to Dutch Bros Inc.</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(4,753)</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(12,679)</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Other comprehensive income:</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Unrealized gain on derivative securities, effective portion, net of income tax expense</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">813 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Transfers from (to) non-controlling interests:</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Decrease in additional paid-in capital as a result of the Reorganization Transactions</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(195,936)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Decrease in accumulated deficit as a result of the adoption of ASC 842</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">122 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Increase in additional paid-in capital as a result of equity-based compensation</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">13,743 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">12,663 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Decrease in additional paid-in capital as a result of common stock issuances pursuant to vesting of equity awards, net of stock withheld for tax</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(1,145)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(3,258)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:9pt"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Increase (decrease) in additional paid-in capital as a result of the acquisition of Dutch Bros OpCo Class A common units</span></div></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">9,410 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(239,132)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Total effect of changes in ownership interest on equity attributable to Dutch Bros Inc.</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">18,190 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(438,342)</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table></div> -4753000 -12679000 813000 0 0 -195936000 122000 0 13743000 12663000 1145000 3258000 9410000 -239132000 18190000 -438342000 The non-controlling interest holders’ weighted-average ownership percentage were as follows for the periods presented:<div style="margin-bottom:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:69.733%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.842%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.843%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Year Ended December 31,</span></td></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2022</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2021</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Weighted-average ownership percentage</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">67.8 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">*</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">* The non-controlling interest holders’ weighted-average ownership percentage for the period from the September 14, 2021 Reorganization date to December 31, 2021 was 71.3%.</span></div> 0.678 0.713 <div style="margin-bottom:9pt"><span style="color:#00416b;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:120%">NOTE 17 — Loss Per Share</span><span style="color:#ee2724;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Basic net loss per share of Class A and Class D common stock is computed by dividing net loss attributable to Dutch Bros Inc. by the weighted-average number of shares of Class A and Class D common stock outstanding during the period. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Diluted net loss per share of Class A and Class D common stock is computed by dividing loss attributable to the Company, adjusted for the assumed exchange of all potentially dilutive instruments for Class A common stock, by the weighted-average number of shares of Class A and Class D common stock outstanding, adjusted to give effect to potentially dilutive elements. Share counts used in the diluted net loss per share calculations are adjusted for the deemed repurchases provided for in the treasury stock method for restricted stock awards and restricted stock units, and under the if-converted method for the outstanding convertible Class B and Class C common stock.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following tables set forth the numerators and denominators used to compute basic and diluted net loss per share of Class A and Class D common stock for the periods presented. The basic and diluted net loss per share for the year ended December 31, 2021 reflects only the period from September 14, 2021 to December 31, 2021, which represents the period from the date of the Reorganization Transactions during which the Company had outstanding Class A and Class D common stock. The Company had no outstanding common stock prior to the Reorganization Transactions in September 2021, and as such, no comparable loss per share information for 2020 is presented.</span></div><div style="margin-bottom:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:55.150%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.842%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.842%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.843%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Year Ended December 31,</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2022</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2021</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2020</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Numerator:</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net income (loss)</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(19,253)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(117,931)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">6,058 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Less: net income (loss) attributable to Dutch Bros OpCo before Reorganization Transactions</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(67,374)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">6,058 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Less: net loss attributable to non-controlling interests</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(14,500)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(37,878)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net loss attributable to Dutch Bros Inc.</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(4,753)</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(12,679)</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:69.733%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.842%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.843%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Year Ended December 31,</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands, except per share amounts)</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2022</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2021</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Basic and diluted net loss per share attributable to common stockholders</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Numerator:</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 16pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Net loss attributable to Dutch Bros Inc.</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(4,753)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(12,679)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Denominator:</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 16pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Weighted-average number of shares of Class A and Class D common stock outstanding - basic</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">51,871 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">45,864 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 25pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Dilutive effect of restricted stock awards</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 25pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Dilutive effect of restricted stock units</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 16pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Weighted-average number of shares of Class A and Class D common stock outstanding - diluted</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">51,871 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">45,864 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr style="height:8pt"><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:3pt double #000;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:3pt double #000;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Basic net loss per share attributable to common stockholders</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(0.09)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(0.28)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Diluted net loss per share attributable to common stockholders</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(0.09)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(0.28)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table></div>Shares of the Company’s Class B and Class C common stock do not participate in the earnings or losses of the Company and are therefore not participating securities. As such, separate presentation of basic and diluted loss per share of Class B and Class C common stock under the two-class method has not been presented.<div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following common stock equivalents were excluded from diluted loss per share in the periods presented because they were anti-dilutive:</span></div><div style="margin-bottom:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:69.733%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.842%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.843%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Year Ended December 31,</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></div></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2022</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2021</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Restricted stock awards</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,667 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">4,000 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Restricted stock units</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">583 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">595 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total anti-dilutive securities</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">3,250 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">4,595 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table></div> <div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following tables set forth the numerators and denominators used to compute basic and diluted net loss per share of Class A and Class D common stock for the periods presented. The basic and diluted net loss per share for the year ended December 31, 2021 reflects only the period from September 14, 2021 to December 31, 2021, which represents the period from the date of the Reorganization Transactions during which the Company had outstanding Class A and Class D common stock. The Company had no outstanding common stock prior to the Reorganization Transactions in September 2021, and as such, no comparable loss per share information for 2020 is presented.</span></div><div style="margin-bottom:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:55.150%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.842%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.842%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.843%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Year Ended December 31,</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2022</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2021</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2020</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Numerator:</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net income (loss)</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(19,253)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(117,931)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">6,058 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Less: net income (loss) attributable to Dutch Bros OpCo before Reorganization Transactions</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(67,374)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">6,058 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Less: net loss attributable to non-controlling interests</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(14,500)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(37,878)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net loss attributable to Dutch Bros Inc.</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(4,753)</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(12,679)</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:69.733%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.842%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.843%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Year Ended December 31,</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands, except per share amounts)</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2022</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2021</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Basic and diluted net loss per share attributable to common stockholders</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Numerator:</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 16pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Net loss attributable to Dutch Bros Inc.</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(4,753)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(12,679)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Denominator:</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 16pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Weighted-average number of shares of Class A and Class D common stock outstanding - basic</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">51,871 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">45,864 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 25pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Dilutive effect of restricted stock awards</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 25pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Dilutive effect of restricted stock units</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 16pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Weighted-average number of shares of Class A and Class D common stock outstanding - diluted</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">51,871 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">45,864 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr style="height:8pt"><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:3pt double #000;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:3pt double #000;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Basic net loss per share attributable to common stockholders</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(0.09)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(0.28)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Diluted net loss per share attributable to common stockholders</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(0.09)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(0.28)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table></div> -19253000 -117931000 6058000 0 -67374000 6058000 -14500000 -37878000 0 -4753000 -12679000 0 -4753000 -12679000 51871000 45864000 0 0 0 0 51871000 45864000 -0.09 -0.28 -0.09 -0.28 <div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following common stock equivalents were excluded from diluted loss per share in the periods presented because they were anti-dilutive:</span></div><div style="margin-bottom:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:69.733%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.842%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.843%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Year Ended December 31,</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></div></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2022</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2021</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Restricted stock awards</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,667 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">4,000 </span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Restricted stock units</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">583 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">595 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total anti-dilutive securities</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">3,250 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">4,595 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table></div> 2667000 4000000 583000 595000 3250000 4595000 <div style="margin-bottom:9pt"><span style="color:#00416b;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:120%">NOTE 18 — Commitments and Contingencies</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Purchase Obligations</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company enters into fixed-price and price-to-be fixed green coffee purchase commitments. For both fixed-price and price-to-be fixed purchase commitments, the Company expects to take delivery of green coffee and to utilize the coffee in a reasonable period of time in the ordinary course of business. Such contracts are used in the normal purchases of green coffee and not for speculative purposes. The Company does not enter into futures contracts or other derivative instruments related to its green coffee purchase commitments.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Guarantees</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company periodically provides guarantees to franchise partners for lease payments. Annually, the Company determines if a liability needs to be recorded related to these guarantees. As of December 31, 2022 and December 31, 2021, the Company had guaranteed approximately $1.6 million and $1.7 million, respectively, in franchise partners’ lease payments and has not established a liability for these guarantees as any liability arising from the guarantees is not material to the consolidated financial statements.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Legal Proceedings</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is a party to routine legal actions arising in the ordinary course of and incidental to its business. These claims, legal proceedings and litigation principally arise from alleged casualty, employment, and other disputes. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In determining loss contingencies, the Company considers the likelihood of loss as well as the ability to reasonably estimate the amount of such loss or liability. An estimated loss is recognized when it is considered probable that a liability has been incurred and when the amount of loss can be reasonably estimated. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Because litigation is inherently unpredictable, assessing contingencies is highly subjective and requires judgments about future events. When evaluating litigation contingencies, we may be unable to provide a meaningful estimate due to a number of factors, including the procedural status of the matter in question, developments in legislation or regulations that affect the validity of certain claims and defenses, the availability of appellate remedies, insurance coverage related to the claim or claims in question, the presence of complex or novel legal theories, and/or the ongoing discovery and development of information important to the matter.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">While any claim, proceeding or litigation has an element of uncertainty, the Company believes the outcome of any of these that are pending or threatened will not have a material adverse effect on its financial condition, results of operations, or cash flows. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#006098;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Liabilities Under Tax Receivable Agreements</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As described in NOTE 12 — Tax Receivable Agreements, the Company is a party to the TRAs under which the Company is contractually committed to pay the non-controlling interest holders 85% of the amount of any tax benefits that the Company actually realizes, or in some cases is deemed to realize, as a result of certain transactions. The Company is not obligated to make any payments under the TRAs until the tax benefits associated with the transactions that gave rise to the payments are realized. Amounts payable under the TRAs are contingent upon, among other things, (i) generation of future taxable income over the term of the TRAs, and (ii) future changes in tax laws. If the Company does not generate sufficient taxable income in the aggregate over the term of the TRAs to utilize the tax benefits, then the Company would not be required to make the related TRA payments. As of December 31, 2022, the Company recognized $220.9 million of liabilities related to its obligations under the TRAs, after concluding that it was probable that the Company would have sufficient future taxable income to utilize the related tax benefits. There were no transactions subject to the TRAs for which the Company did not recognize the related liability, as the Company concluded that it would have sufficient future taxable income to utilize all of the related tax benefits generated by all transactions that occurred during the year ended December 31, 2022.</span></div> 1600000 1700000 220900000 <div style="margin-bottom:9pt"><span style="color:#00416b;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:120%">NOTE 19 — Related Party Transactions</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company’s donations to the Foundation, a not-for-profit founded by the Company that provides philanthropy to coffee farmers and local communities and for which the Company’s Chief Executive Officer (CEO) serves on the board of directors, were as follows:</span></div><div style="margin-bottom:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:61.880%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.598%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.598%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.601%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Year Ended December 31,</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2022</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2021</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2020</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Donations to Dutch Bros Foundation</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">5,149 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">10,546 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">5,848 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div> <div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company’s donations to the Foundation, a not-for-profit founded by the Company that provides philanthropy to coffee farmers and local communities and for which the Company’s Chief Executive Officer (CEO) serves on the board of directors, were as follows:</span></div><div style="margin-bottom:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:61.880%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.598%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.598%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.601%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Year Ended December 31,</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2022</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2021</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2020</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Donations to Dutch Bros Foundation</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">5,149 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">10,546 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">5,848 </span></td><td style="background-color:#d2dce5;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div> 5149000 10546000 5848000 <div style="margin-bottom:9pt"><span style="color:#00416b;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:120%">NOTE 20 — Segment Reporting</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Segment information is prepared on the same basis that the Company’s CEO, who is the chief operating decision maker (CODM), manages the segments, evaluates financial results and makes key operating decisions. The Company’s CEO evaluates the financial performance of the Company based on two operating segments: Company-operated shops and Franchising and other. The Company-operated shops segment includes coffee shop sales to customers. The Franchising and other segment includes bean and product sales to franchise partners and includes the initial franchise fees, royalties, and marketing fees.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The CODM reviews segment performance and allocates resources based upon segment contribution, which is defined as segment gross profit before depreciation and amortization. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">All segment revenue is earned in the United States, and there are no intersegment revenues. As the CODM is not provided with asset information by segment, assets are reported only on a consolidated basis.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Selling, general and administrative expenses primarily consist of the Company’s unallocated corporate expenses. Unallocated corporate expenses include corporate administrative functions that support the segments but are not directly attributable to or managed by any segment and are not included in the reported financial results of the segments.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">No changes have been made to the Company’s segments during the year ended December 31, 2022. In addition, one customer represented 10% or more of total revenue for the year ended December 31, 2022, while no customer represented 10% or more of total revenues for the years ended December 31, 2021, and 2020.</span></div><div style="margin-bottom:9pt"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial information for the Company’s reportable segments was as follows for the periods presented:</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:61.880%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.598%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.598%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.601%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#ee2724;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Year Ended December 31,</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2022</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2021 ¹</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2020 ¹</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Revenues:</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Company-operated shops</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">639,710 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">403,746 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">244,514 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Franchising and other</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">99,302 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">94,130 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">82,899 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total revenues</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">739,012 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">497,876 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">327,413 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Cost of sales:</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Company-operated shops</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">518,383 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">317,045 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">183,968 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Franchising and other</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">39,713 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">27,528 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">27,510 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total cost of sales</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">558,096 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">344,573 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">211,478 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Segment contribution:</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Company-operated shops</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">157,633 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">102,992 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">70,283 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Franchising and other</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">65,295 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">72,865 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">59,738 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total segment contribution</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">222,928 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">175,857 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">130,021 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Depreciation and amortization:</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:3pt double #000;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:3pt double #000;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:3pt double #000;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Company-operated shops</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">36,306 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">16,291 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">9,737 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Franchising and other</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">5,706 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">6,263 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">4,349 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total depreciation and amortization</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">42,012 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">22,554 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">14,086 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Selling, general and administrative</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(183,528)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(264,529)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(104,935)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Interest expense, net</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(18,018)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(7,093)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(3,736)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Other income (expense), net</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">3,976 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(1,240)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(363)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Income (loss) before income taxes</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(16,654)</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(119,559)</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">6,901 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:3pt"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">_________________</span></div><div style="margin-bottom:9pt;padding-left:9pt;text-align:justify;text-indent:-9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">1</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">    The Company identified immaterial corrections related to the accrual of employee sick leave and the application of ASC 710, </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">Compensation - General</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">, which resulted in revisions to prior period reported amounts with impacted line items presented below for the years ended December 31, </span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2021 and 2020, r</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">espectively. </span></div><div style="margin-bottom:9pt;padding-left:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.076%"><tr><td style="width:1.0%"/><td style="width:73.736%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td style="width:0.1%"/><td style="width:0.453%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.828%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.453%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.830%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Year Ended December 31,</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2021</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2020</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Decrease in company-operated shops cost of sales (labor costs)</span></div></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1,518)</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(178)</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Decrease in total cost of sales</span></div></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1,540)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(181)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Increase in company-operated shops gross profit</span></div></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,518 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">178 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Increase in company-operated shops segment contribution</span></div></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,518 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">178 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Increase in total gross profit</span></div></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,540 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">181 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Increase in total segment contribution</span></div></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,540 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">181 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Decrease in selling, general and administrative expenses</span></div></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(506)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(152)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Increase in income before income taxes</span></div></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2,046 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">333 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div> 2 <div style="margin-bottom:9pt"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial information for the Company’s reportable segments was as follows for the periods presented:</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:61.880%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.598%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.598%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.441%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.601%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#ee2724;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Year Ended December 31,</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2022</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2021 ¹</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2020 ¹</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Revenues:</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Company-operated shops</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">639,710 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">403,746 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">244,514 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Franchising and other</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">99,302 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">94,130 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">82,899 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total revenues</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">739,012 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">497,876 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">327,413 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Cost of sales:</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Company-operated shops</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">518,383 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">317,045 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">183,968 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Franchising and other</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">39,713 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">27,528 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">27,510 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total cost of sales</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">558,096 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">344,573 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">211,478 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Segment contribution:</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Company-operated shops</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">157,633 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">102,992 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">70,283 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Franchising and other</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">65,295 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">72,865 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">59,738 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total segment contribution</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">222,928 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">175,857 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">130,021 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Depreciation and amortization:</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:3pt double #000;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:3pt double #000;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="3" style="background-color:#d2dce5;border-top:3pt double #000;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Company-operated shops</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">36,306 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">16,291 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">9,737 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Franchising and other</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">5,706 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">6,263 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">4,349 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total depreciation and amortization</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">42,012 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">22,554 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">14,086 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Selling, general and administrative</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(183,528)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(264,529)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(104,935)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Interest expense, net</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(18,018)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(7,093)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(3,736)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Other income (expense), net</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">3,976 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(1,240)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(363)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Income (loss) before income taxes</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(16,654)</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(119,559)</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">6,901 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:3pt"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">_________________</span></div><div style="margin-bottom:9pt;padding-left:9pt;text-align:justify;text-indent:-9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">1</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">    The Company identified immaterial corrections related to the accrual of employee sick leave and the application of ASC 710, </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">Compensation - General</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">, which resulted in revisions to prior period reported amounts with impacted line items presented below for the years ended December 31, </span><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2021 and 2020, r</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">espectively. </span></div><div style="margin-bottom:9pt;padding-left:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.076%"><tr><td style="width:1.0%"/><td style="width:73.736%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td style="width:0.1%"/><td style="width:0.453%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.828%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.453%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.830%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Year Ended December 31,</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(in thousands)</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2021</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2020</span></td></tr><tr><td colspan="3" style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Decrease in company-operated shops cost of sales (labor costs)</span></div></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1,518)</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(178)</span></td><td style="background-color:#d2dce5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Decrease in total cost of sales</span></div></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1,540)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(181)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Increase in company-operated shops gross profit</span></div></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,518 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">178 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Increase in company-operated shops segment contribution</span></div></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,518 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">178 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Increase in total gross profit</span></div></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,540 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">181 </span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Increase in total segment contribution</span></div></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,540 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">181 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#d2dce5;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Decrease in selling, general and administrative expenses</span></div></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(506)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#d2dce5;padding:0 1pt"/><td colspan="2" style="background-color:#d2dce5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(152)</span></td><td style="background-color:#d2dce5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Increase in income before income taxes</span></div></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2,046 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#131e29;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">333 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div> 639710000 403746000 244514000 99302000 94130000 82899000 739012000 497876000 327413000 518383000 317045000 183968000 39713000 27528000 27510000 558096000 344573000 211478000 157633000 102992000 70283000 65295000 72865000 59738000 222928000 175857000 130021000 36306000 16291000 9737000 5706000 6263000 4349000 42012000 22554000 14086000 183528000 264529000 104935000 -18018000 -7093000 -3736000 3976000 -1240000 -363000 -16654000 -119559000 6901000 -1518000 -178000 -1540000 -181000 1518000 178000 1518000 178000 1540000 181000 1540000 181000 -506000 -152000 2046000 333000 KPMG LLP KPMG LLP Portland, Oregon 185 Basic and diluted net loss per share of Class A and Class D common stock are applicable only for periods subsequent to September 14, 2021, the effective date of the Company’s Reorganization Transactions and IPO.