Franchise (TAX) 10-Q 3 Nov 22 2022 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 24, 2022	Oct. 31, 2022
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 24, 2022
Document Transition Report	false
Entity File Number	001-35588
Entity Registrant Name	Franchise Group, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	27-3561876
Entity Address, Address Line One	109 Innovation Court, Suite J
Entity Address, City or Town	Delaware,
Entity Address, State or Province	OH
Entity Address, Postal Zip Code	43015
City Area Code	740)
Local Phone Number	-2222
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		38,205,831
Entity Central Index Key	0001528930
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Common Stock [Member]
Entity Information [Line Items]
Title of 12(b) Security	Common stock, par value $0.01 per share
Trading Symbol	FRG
Security Exchange Name	NASDAQ
Series A Preferred Stock
Entity Information [Line Items]
Title of 12(b) Security	7.50% Series A Cumulative Preferred Stock, par value $0.01 per share and liquidation preference of $25.00 per share
Trading Symbol	FRGAP
Security Exchange Name	NASDAQ

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 24, 2022	Sep. 25, 2021	Sep. 24, 2022	Sep. 25, 2021
Revenues:
Revenue from Contract with Customer, Excluding Assessed Tax	$ 1,051,476	$ 828,826	$ 3,281,943	$ 2,312,929
Operating expenses:
Direct Costs of Leased and Rented Property or Equipment	2,637	2,930	8,239	8,869
Cost of Revenue	616,484	497,349	1,856,846	1,366,618
Selling, general, and administrative expenses	390,999	276,714	1,173,633	780,416
Goodwill, Impairment Loss	70,000	0	70,000	0
Total operating expenses	1,077,483	774,063	3,100,479	2,147,034
Loss from operations	(26,007)	54,763	181,464	165,895
Other income (expense):
Bargain purchase gain	0	0	3,514	0
Gain on sale-leaseback transactions, net	9,371	0	59,225	0
Foreign currency transaction gain	(11,278)	(13,090)	(20,400)	(49,816)
Interest expense	(61,236)	(21,194)	(242,402)	(91,494)
Loss before income taxes	(89,150)	20,479	(18,599)	24,585
Income tax benefit	32,013	(15,519)	49,263	(15,600)
Income (loss) from continuing operations	(121,163)	35,998	(67,862)	40,185
Income from discontinued operations, net of tax	0	128,072	0	176,434
Net income (loss)	$ (121,163)	$ 164,070	$ (67,862)	$ 216,619
Income (loss) per share from continuing operations:
Basic	$ (3.09)	$ 0.84	$ (1.85)	$ 0.84
Diluted	(3.09)	0.83	(1.85)	0.83
Net income per share:
Earnings Per Share, Basic	(3.09)	4.02	(1.85)	5.23
Earnings Per Share, Diluted	$ (3.09)	$ 3.96	$ (1.85)	$ 5.14
Weighted Average Number of Shares Outstanding, Basic	39,941,287	40,229,232	40,201,666	40,171,458
Weighted Average Number of Shares Outstanding, Diluted	39,941,287	40,973,736	40,201,666	40,931,423
Product [Member]
Revenues:
Revenue from Contract with Customer, Excluding Assessed Tax	$ 922,887	$ 782,608	$ 2,854,060	$ 2,172,193
Operating expenses:
Cost of Goods and Services Sold	604,969	485,682	1,822,334	1,347,673
Service [Member]
Revenues:
Revenue from Contract with Customer, Excluding Assessed Tax	121,738	37,891	405,666	114,659
Operating expenses:
Cost of Goods and Services Sold	8,878	8,737	26,273	10,076
Rental
Revenues:
Revenue from Contract with Customer, Excluding Assessed Tax	$ 6,851	$ 8,327	$ 22,217	$ 26,077

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 24, 2022	Sep. 25, 2021	Sep. 24, 2022	Sep. 25, 2021
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (121,163)	$ 164,070	$ (67,862)	$ 216,619
Unrealized (gain) loss on interest rate swap agreement, net of taxes of $0, $0, $0, and $13, respectively	0	0	0	45
Foreign currency translation adjustment	0	0	0	(381)
Forward contracts related to foreign currency exchange rates	0	0	0	0
Other comprehensive income	0	973	0	1,399
Comprehensive income (loss)	$ (121,163)	$ 165,043	$ (67,862)	$ 218,018

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 25, 2021	Sep. 25, 2021
Statement of Comprehensive Income [Abstract]
Other Adjustments to Income, Discontinued Operations	$ 973	$ 973

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 24, 2022	Dec. 25, 2021
Current assets:
Cash and cash equivalents	$ 72,931	$ 292,714
Receivables:
Total Receivables, Current, Net	143,240	118,698
Inventory, Net	792,055	673,170
Assets Held-for-sale, Not Part of Disposal Group, Current	8,816	0
Other current assets	27,128	24,063
Total current assets	1,385,253	1,478,212
Property, equipment, and software, net	226,980	449,886
Equity Securities, FV-NI, Noncurrent	13,261	35,249
Accounts and Financing Receivable, after Allowance for Credit Loss, Noncurrent	10,249	11,755
Goodwill	738,083	806,536
Operating Lease, Right-of-Use Asset	884,197	714,741
Indefinite-Lived Trade Names	222,703	222,687
Other intangible assets, net	119,377	127,951
Other assets	21,382	18,902
Total assets	3,666,286	3,913,171
Current liabilities:
Current installments of long-term obligations	392,772	486,170
Operating Lease, Liability, Current	178,622	173,101
Accounts payable and accrued expenses	401,757	410,552
Deferred revenue - current	37,672	50,833
Total current liabilities	1,010,823	1,120,656
Long-term Debt, Excluding Current Maturities	1,286,351	1,383,725
Long-term Debt and Lease Obligation	719,672	557,071
Other Liabilities, Noncurrent	103,683	88,888
Total liabilities	3,120,529	3,150,340
Equity:
Additional paid-in capital	410,914	475,396
Retained earnings	134,416	286,987
Total equity	545,757	762,831
Total liabilities and equity	3,666,286	3,913,171
Asset-backed Securities, Securitized Loans and Receivables
Receivables:
Financing Receivable, after Allowance for Credit Loss, Current	341,083	369,567
Accounts Receivable, after Allowance for Credit Loss, Noncurrent	44,801	47,252
Special voting preferred stock
Equity:
Preferred stock	45	45
Class A common stock
Equity:
Common stock	$ 382	$ 403

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 24, 2022	Dec. 25, 2021
Finite-Lived Intangible Assets, Accumulated Amortization	$ 21,132	$ 12,164
Preferred Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Preferred Stock, Shares Authorized		20,000,000
Preferred Stock, Shares Issued	4,541,125	4,541,125
Class A common stock
Common Stock, Value, Issued	$ 382	$ 403
Common Stock [Member]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares issued	38,162,700	40,296,688
Common Stock, Shares Authorized		180,000,000
Common Stock, Shares, Outstanding	38,162,700	40,296,688

Condensed Consolidated Statem_4

Condensed Consolidated Statement of Stockholders Equity Statement - USD ($)	Total	Franchise Agreements [Member]	Reacquired Rights [Member]	Trade Names [Member]	Common Stock [Member]	Preferred Stock [Member]	Preferred Stock [Member] Series A Preferred Stock	Parent [Member]	Parent [Member] Common Stock [Member]	Parent [Member] Preferred Stock [Member]	Parent [Member] Series A Preferred Stock	Additional Paid-in Capital [Member]	Additional Paid-in Capital [Member] Series A Preferred Stock	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Retained Earnings [Member] Common Stock [Member]	Retained Earnings [Member] Preferred Stock [Member]
Shares, Outstanding					40,092,000	1,250,000
Stockholders' Equity Attributable to Parent					$ 401,000	$ 13,000		$ 385,167,000				$ 382,383,000		$ (1,399,000)	$ 3,769,000
Stock Issued During Period, Value, Acquisitions								385,000				385,000
Net Income (Loss) Attributable to Parent	$ 216,619,000
Other Comprehensive Income (Loss), Net of Tax	1,399,000
Stock Issued During Period, Shares, Acquisitions					36,000
Adjustment to APIC, Share-based Compensation, Requisite Service Period Recognition, Shares					109,000
Stock Issued During Period, Value, Conversion of Convertible Securities							$ (32,000)				$ (79,542,000)		$ (79,510,000)
Stock Issued During Period, Shares, Conversion of Convertible Securities							(3,291,000)
Adjustment to APIC, Share-based Compensation, Requisite Service Period Recognition								9,128,000				9,127,000
Dividends									$ (46,372,000)	$ (6,386,000)						$ (46,372,000)	$ (6,386,000)
Net Income (Loss) Available to Common Stockholders, Basic	210,235,000							216,619,000
Net loss															216,619,000
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent								1,399,000						1,399,000
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture					$ 1,000
Shares, Outstanding					40,208,000	4,541,000
Stockholders' Equity Attributable to Parent					$ 402,000	$ 45,000		487,995,000				467,351,000		(973,000)	21,170,000
Net Income (Loss) Attributable to Parent	164,070,000
Other Comprehensive Income (Loss), Net of Tax	973,000
Adjustment to APIC, Share-based Compensation, Requisite Service Period Recognition, Shares					29,000
Adjustment to APIC, Share-based Compensation, Requisite Service Period Recognition								4,054,000				4,054,000
Dividends									$ (15,482,000)	$ (2,128,000)						$ (15,482,000)	$ (2,128,000)
Net Income (Loss) Available to Common Stockholders, Basic	161,942,000							164,070,000
Net loss															164,070,000
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent								973,000						973,000
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture					$ 0
Shares, Outstanding					40,237,000	4,541,000
Stockholders' Equity Attributable to Parent					$ 402,000	$ 45,000		639,482,000				471,405,000		0	167,630,000
Shares, Outstanding					40,297,000	4,541,000
Stockholders' Equity Attributable to Parent	762,831,000				$ 403,000	$ 45,000		762,831,000				475,396,000		0	286,987,000
Intangible Assets, Net (Excluding Goodwill)	127,951,000		$ 1,458,000
Indefinite-Lived Trademarks				$ 222,687,000
Net Income (Loss) Attributable to Parent	(67,862,000)							(67,862,000)							(67,862,000)
Other Comprehensive Income (Loss), Net of Tax	0
Stock Issued During Period, Value, Stock Options Exercised								(348,000)				(348,000)
Stock Issued During Period, Shares, Acquisitions					57,000
Adjustment to APIC, Share-based Compensation, Requisite Service Period Recognition								13,721,000				13,720,000
Dividends	(78,323,000)														(78,323,000)
Net Income (Loss) Available to Common Stockholders, Basic	$ (74,248,000)
Dividends, Preferred Stock, Cash								(6,386,000)							(6,386,000)
Stock Repurchased During Period, Shares	2,227,200				(2,227,000)
Stock Repurchased During Period, Value	$ (77,900,000)				$ 22,000			(77,876,000)				(77,854,000)
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period					36,000
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture					$ 1,000
Shares, Outstanding					40,359,000	4,541,000
Stockholders' Equity Attributable to Parent					$ 404,000	$ 45,000		768,854,000				486,059,000		0	282,346,000
Net Income (Loss) Attributable to Parent	(121,163,000)							(121,163,000)							(121,163,000)
Other Comprehensive Income (Loss), Net of Tax	0
Stock Issued During Period, Value, Stock Options Exercised								(528,000)				(528,000)
Stock Issued During Period, Shares, Acquisitions					10,000
Adjustment to APIC, Share-based Compensation, Requisite Service Period Recognition								3,237,000				3,237,000
Dividends	(24,639,000)														(24,639,000)
Net Income (Loss) Available to Common Stockholders, Basic	(123,292,000)
Dividends, Preferred Stock, Cash								(2,128,000)							(2,128,000)
Stock Repurchased During Period, Shares					(2,227,000)
Stock Repurchased During Period, Value					$ 22,000			(77,876,000)				(77,854,000)
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period					21,000
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture					$ 0
Shares, Outstanding					38,163,000	4,541,000
Stockholders' Equity Attributable to Parent	545,757,000				$ 382,000	$ 45,000		$ 545,757,000				$ 410,914,000		$ 0	$ 134,416,000
Intangible Assets, Net (Excluding Goodwill)	$ 119,377,000	$ 83,506,000	$ 1,412,000
Indefinite-Lived Trademarks				$ 222,703,000

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 24, 2022	Sep. 25, 2021
Operating Activities
Net income (loss)	$ (67,862)	$ 216,619
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Provision for doubtful accounts	97,575	2,010
Goodwill, Impairment Loss	70,000	0
Other Depreciation and Amortization	62,381	50,127
Amortization of Debt Issuance Costs	15,069	72,316
Amortization of Debt Discount (Premium)	71,446	0
Stock-based compensation expense	14,147	9,561
Change in fair value of investment	22,138	(13,089)
Gain (Loss) on Sale of Intangible and Other Assets	(65,254)	(177,067)
Gain (Loss) on Disposition of Other Assets	(2,265)	(391)
Changes in other assets and liabilities	(264,550)	(44,646)
Net Cash Provided by (Used in) Operating Activities, Continuing Operations	(47,175)	115,440
Investing Activities
Assets Acquired from Franchisees and Area Developers	(39,127)	(37,957)
Proceeds from Sale of Intangible Assets	268,239	3,384
Payments to Acquire Businesses, Net of Cash Acquired	(3,753)	(462,821)
Proceeds from Divestiture of Businesses, Net of Cash Divested	0	179,471
Payments to Operating Loans to Franchisees	0	(17,749)
Proceeds from Repayments on Operating Loans to Franchisees	0	23,103
Net Cash Provided by (Used in) Investing Activities	225,359	(312,569)
Net cash provided by (used in) investing activities	225,359	(312,569)
Financing Activities
Dividends paid	(82,019)	(50,016)
Proceeds from Long-term Lines of Credit	568,319	1,306,724
Repayments of Other Long-term Debt	(802,268)	(1,042,256)
Issuance of common stock	83	0
Issuance of preferred stock	0	79,542
Payments for Repurchase of Common Stock	(77,876)	0
Finance Lease, Principal Payments	(2,009)	0
Payment for debt issue costs and prepayment penalty on extinguishment	(1,339)	(88,014)
Payment, Tax Withholding, Share-based Payment Arrangement	(858)	(47)
Net cash provided by (used in) financing activities	(397,967)	205,933
Effect of exchange rate changes on cash, net	0	34
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	(219,783)	8,838
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	72,931	160,340
Cash and Cash Equivalents, at Carrying Value, Ending Balance	72,931	159,972
Supplemental disclosures of cash flow information:
Cash paid for interest, net of capitalized interest of $4 and $3, respectively	63,921	39,618
Cash paid for taxes, net of refunds	63,072	79,074
Payments to Acquire Software	4,528	3,496
Non-cash proceeds from divestiture of Liberty Tax	0	59,680
Capital Expenditures Incurred but Not yet Paid	0	1,211
Restricted Cash, Noncurrent	0	368
Restricted Cash and Cash Equivalents	$ 72,931	$ 160,340

Organization and Significant Ac

Organization and Significant Accounting Policies	3 Months Ended
	Sep. 24, 2022
Accounting Policies [Abstract]
Organization and Significant Accounting Policies	Basis of Presentation Unless otherwise stated, references to the "Company," "we," "us," and "our" in this Quarterly Report on Form 10-Q (this "Quarterly Report") refer to Franchise Group, Inc. and its direct and indirect subsidiaries on a consolidated basis. The unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim financial information and pursuant to the requirements of Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete consolidated financial statements. The unaudited condensed consolidated financial statements should be read in conjunction with the Company's Form 10-K for the year ended December 25, 2021 that was filed with the Securities and Exchange Commission (“SEC”) on February 23, 2022 (the “Form 10-K”). In the opinion of management, all adjustments (including those of a normal recurring nature) necessary for a fair presentation of such condensed consolidated financial statements in accordance with GAAP have been recorded. The December 25, 2021 balance sheet information was derived from the audited financial statements as of that date. Repurchases of Common Stock The Company's repurchases shares of its common stock through open market transactions. During the nine months ended September 24, 2022, all purchases of common stock under the Company's stock repurchase program were made at prices that exceeded the par value of the repurchased common stock, and the portions of the purchase prices that exceeded par value were charged to additional paid-in capital to the extent that an excess was present. Once additional paid-in capital is fully depleted, remaining excess of cost over par value is charged to retained earnings. Refer to “Note 10. Equity & Stock Compensation Plans” in this Quarterly Report for additional information regarding share repurchases. Accounting Pronouncements In June 2016, the Financial Accounting Standards Board ("FASB") issued ASU No. 2016-13, " Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments ", which changes how companies will measure credit losses for most financial assets and certain other instruments that aren't measured at fair value through net income. The standard replaces the "incurred loss" approach with an "expected loss" model for instruments measured at amortized cost (which generally will result in the earlier recognition of allowances for losses) and requires companies to record allowances for available-for-sale debt securities, rather than reduce the carrying amount. In addition, companies will have to disclose significantly more information, including information used to track credit quality by year of origination, for most financing receivables. The ASU should be applied as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the standard is effective. The ASU is effective for the Company for the fiscal year beginning January 1, 2023. The Company is currently evaluating the impact of the adoption of this standard on its consolidated financial statements. In January 2017, the FASB issued ASU No. 2017-04, “ Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. ” This standard eliminates Step 2 from the goodwill impairment test. Instead, an entity should compare the fair value of a reporting unit with its carrying amount and recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit's fair value, not to exceed the total amount of goodwill allocated to the reporting unit. The Company early adopted the ASU in the quarter ended September 24, 2022. Refer to "Note 5. Goodwill and Intangible Assets" for the calculation of the Company's impairment test after the adoption of ASU 2017-04. The London Interbank Offered Rate ("LIBOR") is scheduled to be discontinued on June 30, 2023. In an effort to address the various challenges created by such discontinuance, the FASB issued an amendment to existing guidance, ASU No. 2020-04 " Reference Rate Reform. " The amended guidance is designed to provide relief from the accounting analysis and impacts that may otherwise be required for modifications to agreements (e.g. loans, debt securities, derivatives, borrowings) necessitated by the reference rate reform. It also provides option expedients to enable companies to continue to apply hedge accounting to certain hedging relationships impacted by the reference rate reform. As further described in "Note 7. Long-Term Obligations", the Company entered into an amendment to a debt agreement which changed the reference rate from LIBOR to Secured Overnight Financing Rate ("SOFR"). The adoption of ASU 2020-04 did not result in a material impact to the Company's financial results or disclosures.

Acquisitions

Acquisitions	9 Months Ended
	Sep. 24, 2022
Business Combinations [Abstract]
Acquisitions	(2) Acquisitions The Company continually looks to diversify and grow its portfolio of brands through acquisitions. On September 27, 2021, the Company completed its acquisition (the "Sylvan Acquisition") of Sylvan Learning ("Sylvan"), and o n November 22, 2021, the Company completed its acquisition (the "Badcock Acquisition" and, together with the Sylvan Acquisition "the “Acquisitions”) of W.S. Badcock Corporation ("Badcock"). Badcock Acquisition On November 22, 2021, the Company completed the Badcock Acquisition. The preliminary fair value of the consideration transferred at the acquisition date was $548.8 million. For the nine months ended September 24, 2022, $0.8 million of acquisition fees had been incurred that are recorded in selling, general and administrative expenses. The table below summarizes the unaudited preliminary estimates of the fair values of the identifiable assets acquired and liabilities assumed in the Badcock Acquisition on November 22, 2021. The preliminary estimates of the fair value of identifiable assets acquired and liabilities assumed are subject to revisions, which may result in an adjustment to the preliminary values presented below. In the nine months ended September 24, 2022, the preliminary estimates of the fair value of identifiable assets acquired and liabilities assumed were adjusted, which resulted in an increase to the bargain purchase gain of $3.5 million. The increase was primarily due to the valuation of the property, plant, and equipment partially offset by an increase in other long-term liabilities for deferred taxes. The Company expects to complete the purchase price allocation as soon as reasonably possible but not to exceed one year from the date of completion of the Badcock Acquisition. (In thousands) Preliminary Cash and cash equivalents $ 23,413 Inventories, net 130,045 Accounts receivable 411,268 Other current assets 5,023 Property, plant, and equipment 238,865 Operating lease right-of-use assets 55,626 Other non-current assets 2,506 Total assets 866,746 Current operating lease liabilities 12,070 Accounts payable and accrued expenses 71,436 Other current liabilities 18,942 Current installments of long-term obligations 5,261 Long-term obligations, excluding current installments 7,247 Non-current operating lease liabilities 39,599 Other long-term liabilities 27,849 Total liabilities 182,404 Bargain purchase gain (135,557) Consideration transferred $ 548,785 Operating lease right-of-use assets of $55.6 million and operating and lease liabilities of $51.7 million, consist of leases for retail store locations, warehouses and office equipment. Property, plant, and equipment consists of fixtures and equipment of $93.0 million, buildings and building improvements of $98.0 million, land and land improvements of $33.4 million, leasehold improvements of $23.7 million, and construction in progress of $1.4 million. During the nine months ended September 24, 2022, the preliminary estimates of the fair value of identifiable assets acquired and liabilities assumed were adjusted, which resulted in a $3.5 million increase to the bargain purchase gain for a cumulative bargain purchase gain of $135.6 million. The adjustment is classified as "Bargain purchase gain" on the Consolidated Statements of Operations. The Company believes the seller in the Badcock Acquisition was willing to accept a bargain purchase price in return for the Company's ability to act more quickly, partially due to the Company's access to capital to complete the transaction, and with greater certainty than any other prospective acquirer. Additionally, the Company believes the seller in the Badcock Acquisition was motivated to complete the transaction as part of an overall repositioning of its business. Upon completion of this reassessment, the Company concluded that recording a bargain purchase gain with respect to the Badcock Acquisition was appropriate and required under GAAP. The tax impact related to the bargain purchase gain was non-taxable and impacted the Company's effective tax rate for the period. Sylvan Acquisition On September 27, 2021, the Company completed the Sylvan Acquisition. The fair value of the consideration transferred at the acquisition date was $82.9 million. The table below summarizes the fair values of the identifiable assets acquired and liabilities assumed in the Sylvan Acquisition on September 27, 2021. (In thousands) September 27, 2021 Cash and cash equivalents $ 4,364 Other current assets 3,592 Property, plant, and equipment 26,324 Goodwill 19,406 Tradenames 24,987 Operating lease right-of-use assets 2,874 Other intangible assets 19,412 Other non-current assets 185 Total assets 101,144 Current operating lease liabilities 891 Accounts payable and accrued expenses 6,072 Non-current operating lease liabilities 1,984 Other long-term liabilities 9,320 Total liabilities 18,267 Consideration transferred $ 82,877 Other intangible assets consists of the franchise agreements of $18.3 million and proprietary content of $1.1 million. Property, plant and equipment consists of fixtures and equipment of $0.3 million, leasehold improvements of $0.7 million, and software and electronic content of $25.3 million. Goodwill is calculated as the excess of the purchase price over the fair value of the net assets acquired. The goodwill recognized is attributable to operational synergies in the expected franchise models and growth opportunities. None of the acquired goodwill is deductible for tax purposes. Pet Supplies Plus Acquisition On March 10, 2021, the Company completed its acquisition of Pet Supplies Plus. Goodwill is calculated as the excess of the purchase price over the fair value of the net assets acquired. The goodwill recognized is attributable to operational synergies in the expected franchise models and growth opportunities. All of the acquired goodwill is deductible for tax purposes. Wag N' Wash Acquisition On February 22, 2022, the Company's Pet Supplies Plus segment completed the acquisition of Wag N' Wash, an emerging natural pet food, self-wash, and grooming franchise, for an all cash purchase price of $0.9 million, and five of the Wag N' Wash stores were subsequently sold to a franchisee for $0.6 million. The components of the purchase price allocation are not presented herein due to the immateriality of the transaction to the Company overall. Pro forma financial information The following unaudited consolidated pro forma summary has been prepared by adjusting the Company's historical data to give effect to the Acquisitions as if they had occurred on January 1, 2020. Pro forma (Unaudited) Three Months Ended Nine Months Ended (In thousands) September 24, 2022 September 25, 2021 September 24, 2022 September 25, 2021 Revenue $ 1,051,475 $ 1,071,394 $ 3,281,943 $ 3,216,259 Net income (loss) (121,163) 77,870 (70,470) 198,575 Basic net income (loss) per share $ (3.09) $ 1.88 $ (1.91) $ 4.78 Diluted net income (loss) per share $ (3.09) $ 1.85 $ (1.91) $ 4.70 These unaudited pro forma results include adjustments such as inventory step-up, amortization of acquired intangible assets, depreciation of acquired property, equipment, and software and interest expense on debt financing in connection with the Acquisitions. Material, nonrecurring pro forma adjustments directly attributable to the Acquisitions include: • Acquired inventory step-up to its fair value of $2.3 million is assumed to be recorded in the first quarter of 2020 and therefore removed from the nine months ended September 25, 2021. • Acquisition transaction related costs of $4.9 million that were incurred during the nine months ended September 25, 2021 are assumed to have occurred on the pro forma close date of January 1, 2020, and recognized as if incurred in the first quarter of 2020. The unaudited consolidated pro forma financial information was prepared in accordance with GAAP and is not necessarily indicative of the results of operations that would have occurred if the Acquisitions had been completed on the date indicated, nor is it indicative of the future operating results of the Company. The unaudited pro forma results do not reflect events that either have occurred or may occur after the Acquisitions, including, but not limited to, the anticipated realization of operating synergies in subsequent periods. They also do not give effect to certain charges that the Company expects to incur in connection with the acquisition, including, but not limited to, additional professional fees and employee integration.

Divestitures

Divestitures	9 Months Ended
	Sep. 24, 2022
Discontinued Operations and Disposal Groups [Abstract]
Sale Leaseback Transactions	Divestitures Liberty Tax Divestiture On July 2, 2021, the Company completed the sale of its Liberty Tax business (the "Liberty Transaction") to NextPoint Acquisition Corp. ("NextPoint") and received total consideration of approximately $255.3 million, consisting of approximately $181.2 million in cash and approximately $74.1 million in proportionate voting shares of NextPoint recorded as an investment in equity securities in "Investment in equity securities" on the Condensed Consolidated Balance Sheets. As a result of the Liberty Transaction, the financial position and results of operations of the Liberty Tax business are presented as discontinued operations and, as such, have been excluded from continuing operations and segment results for the three and nine months ended September 25, 2021. The following is a Condensed Consolidated Statement of Operations for the Liberty Tax business. The amounts are included in "Income (loss) from discontinued operations, net of tax" in the Company's Condensed Consolidated Statements of Operations. Three Months Ended Nine Months Ended (In thousands) September 25, 2021 September 25, 2021 Revenue $ 493 $ 107,486 Selling, general, and administrative expenses 6,886 64,672 Income from operations (6,393) 42,814 Other expense: Gain on sale of discontinued operations 173,699 173,699 Other (3) 165 Interest expense, net (3) (4) Income before income taxes 167,300 216,674 Income tax expense 39,228 40,240 Net income attributable to discontinued operations $ 128,072 $ 176,434 The following is the operating and investing activities for the Liberty Tax business. These amounts are included in the Company's Condensed Consolidated Statement of Cash Flows. Nine Months Ended (In thousands) September 25, 2021 Cash flows provided by operating activities from discontinued operations $ 39,334 Cash flows provided by investing activities from discontinued operations $ 173,633 Assets Held for Sale As of September 24, 2022, the Company's Badcock segment was negotiating sale transactions for certain non-operating properties that it expects to sell within one year. The net book value of the properties of $8.8 million is classified as "Current assets held for sale" on the Condensed Consolidated Balance Sheets. Sale-Leaseback Transactions In the nine months ended September 24, 2022, the Company's Badcock segment sold a number of its retail locations, distribution centers, and its corporate headquarters for a total of $265.8 million, resulting in a net gain of $59.2 million, comprised of $64.7 million of gains and $5.5 million of losses. The corporate headquarters was sold in the three months ended September 24, 2022 for a total of $23.5 million, resulting in a net gain of $9.4 million, comprised of $10.6 million in gains and $1.2 million in losses. Contemporaneously with these sales, the Company entered into lease agreements pursuant to which the Company leased back the retail locations, distribution centers, and corporate headquarters, all of which are being accounted for as operating leases. The net gain has been recognized as "Gain on sale-leaseback transactions" on the Consolidated Statements of Operations for the three and nine months ended September 24, 2022.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	9 Months Ended
	Sep. 24, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	The Company performs impairment tests for goodwill as of the end of July of each fiscal year and between annual impairment tests if an event occurs or circumstances change that would more likely than not reduce the fair values of the Company's reporting units below their carrying values. As part of the annual impairment test as of July 2022, the Company updated its long-term forecasts based on the operating results in 2022 and the current macro-economic environment. This resulted in the American Freight reporting unit fair value being lower than the carrying value resulting in a $70.0 million non-cash pre-tax goodwill impairment charge, which was recorded in "Goodwill impairment" in the accompanying consolidated statements of operations. No other reporting units had accumulated goodwill impairment losses recorded. The estimated fair value of each of our reporting units was calculated using a weighted-average of values determined from an income approach and a market approach. The income approach involves estimating the fair value of each reporting unit by discounting its estimated future cash flows using a discount rate that would be consistent with a market participant’s

Revenue Revenue (Notes)

Revenue Revenue (Notes)	3 Months Ended
	Sep. 24, 2022
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer	(6) Revenue For details regarding the principal activities from which the Company generates its revenue, refer to "Note 1. Description of Business and Summary of Significant Accounting Policies Presentation" in the Form 10-K. For more detailed information regarding reportable segments, refer to "Note 13. Segments" in this Quarterly Report. The following represents the disaggregated revenue by reportable segments for the three months ended September 24, 2022: Three Months Ended September 24, 2022 (In thousands) Vitamin Shoppe Pet Supplies Plus Badcock American Freight Buddy's Sylvan Consolidated Retail sales $ 295,527 $ 163,957 $ 147,020 $ 170,861 $ 450 $ 15 $ 777,830 Wholesale sales 280 141,730 — 3,047 — — 145,057 Total product revenue 295,807 305,687 147,020 173,908 450 15 922,887 Royalties and other franchise based fees 170 9,833 — 505 4,344 8,967 23,819 Financing revenue — — 394 9,060 — — 9,454 Interest income — 80 40,329 187 — — 40,596 Warranty revenue — — 12,596 9,254 1,438 — 23,288 Other revenues 175 7,426 9,939 6,402 77 562 24,581 Total service revenue 345 17,339 63,258 25,408 5,859 9,529 121,738 Rental revenue, net — — — — 6,851 — 6,851 Total rental revenue — — — — 6,851 — 6,851 Total revenue $ 296,152 $ 323,026 $ 210,278 $ 199,316 $ 13,160 $ 9,544 $ 1,051,476 The following represents the disaggregated revenue by reportable segments for the nine months ended September 24, 2022: Nine Months Ended September 24, 2022 (In thousands) Vitamin Shoppe Pet Supplies Plus Badcock American Freight Buddy's Sylvan Consolidated Retail sales $ 912,141 $ 477,927 $ 474,857 $ 577,162 $ 2,181 $ 38 $ 2,444,306 Wholesale sales 768 399,158 — 9,828 — — 409,754 Total product revenue 912,909 877,085 474,857 586,990 2,181 38 2,854,060 Royalties and other franchise based fees 511 28,290 — 1,567 13,773 29,144 73,285 Financing revenue — — 394 28,094 — — 28,488 Interest income — 220 154,485 574 — — 155,279 Warranty revenue — — 39,187 31,410 4,522 — 75,119 Other revenues 583 21,378 30,912 18,522 182 1,918 73,495 Total service revenue 1,094 49,888 224,978 80,167 18,477 31,062 405,666 Rental revenue, net — — — — 22,217 — 22,217 Total rental revenue — — — — 22,217 — 22,217 Total revenue $ 914,003 $ 926,973 $ 699,835 $ 667,157 $ 42,875 $ 31,100 $ 3,281,943 The following represents the disaggregated revenue by reportable segments for the three months ended September 25, 2021: Three Months Ended September 25, 2021 (In thousands) Vitamin Shoppe Pet Supplies Plus American Freight Buddy's Consolidated Retail sales $ 300,721 $ 162,931 $ 207,660 $ 784 $ 672,096 Wholesale sales — 109,895 617 — 110,512 Total product revenue 300,721 272,826 208,277 784 782,608 Royalties and other franchise based fees 92 7,565 955 5,700 14,312 Financing revenue — — 10,808 — 10,808 Interest income — 71 287 — 358 Warranty revenue — — 416 1,618 2,034 Other revenues — 6,181 2,848 1,350 10,379 Total service revenue 92 13,817 15,314 8,668 37,891 Rental revenue, net — — — 8,327 8,327 Total rental revenue — — — 8,327 8,327 Total revenue $ 300,813 $ 286,643 $ 223,591 $ 17,779 $ 828,826 The following represents the disaggregated revenue by reportable segments for the nine months ended September 25, 2021: Nine Months Ended September 25, 2021 (In thousands) Vitamin Shoppe Pet Supplies Plus † American Freight Buddy's Consolidated Retail sales $ 897,934 $ 351,147 $ 686,194 $ 3,221 $ 1,938,496 Wholesale sales — 233,080 617 — 233,697 Total product revenue 897,934 584,227 686,811 3,221 2,172,193 Royalties and other franchise based fees 174 16,038 1,926 14,934 33,072 Financing revenue — — 31,338 — 31,338 Interest income — 156 872 — 1,028 Warranty and damage revenue — — 19,914 5,140 25,054 Other revenues — 13,291 10,053 823 24,167 Total service revenue 174 29,485 64,103 20,897 114,659 Rental revenue, net — — — 26,077 26,077 Total rental revenue — — — 26,077 26,077 Total revenue $ 898,108 $ 613,712 $ 750,914 $ 50,195 $ 2,312,929 † Reflects the results from the March 10, 2021 acquisition date. Contract Balances The following table provides information about receivables and contract liabilities (deferred revenue) from contracts with customers as of September 24, 2022 and December 25, 2021: (In thousands) September 24, 2022 December 25, 2021 Accounts receivable $ 101,485 $ 86,087 Notes receivable 11,360 13,864 Customer deposits $ 20,318 $ 37,626 Gift cards and loyalty programs 8,084 7,604 Deferred franchise fee revenue 24,337 16,984 Other deferred revenue 7,092 8,400 Total deferred revenue $ 59,831 $ 70,614 Deferred revenue consists of (1) amounts received for merchandise of which customers have not yet taken possession, (2) gift card or store credits outstanding, and (3) loyalty reward program credits which are primarily recognized within one year following the revenue deferral. Deferred franchise fee revenue is recognized over the term of the agreement, which is between five and twenty years. The amount of revenue recognized in the period that was included in the contract liability balance at the beginning of the period is immaterial to the condensed consolidated financial statements.

Income Taxes

Income Taxes	3 Months Ended
	Sep. 24, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Overview For the three months ended September 24, 2022 and September 25, 2021, the Company had an effective tax rate from continuing operations of (35.9)% and (75.8)%, respectively. For the nine months ended September 24, 2022 and September 25, 2021, the Company had an effective tax rate from continuing operations of (264.9)% and (63.5)%, respectively. The changes in the effective tax rate compared to the prior year are due to the reversal of a valuation allowance related to net operating loss carryforwards in the prior year as well as a current year non-cash goodwill impairment charge that is nondeductible for tax purposes. Tax Receivable Agreement On July 10, 2019, the Company entered into a tax receivable agreement with the then-existing non-controlling interest holders (the "Tax Receivable Agreement") that provides for the payment by the Company to the non-controlling interest holders of 40% of the cash savings, if any, in federal, state and local taxes that the Company realizes or is deemed to realize as a result of any increases in tax basis of the assets of Franchise Group New Holdco, LLC ("New Holdco") resulting from future redemptions or exchanges of New Holdco units.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Sep. 24, 2022
Equity [Abstract]
Stockholders' Equity	Net Income (Loss) Per ShareDiluted net income (loss) per share is computed using the weighted-average number of common stock and, if dilutive, the potential common stock outstanding during the period. Potential common stock consists of the incremental common stock issuable upon the exercise of stock options and vesting of restricted stock units. The dilutive effect of outstanding stock options and restricted stock units is reflected in diluted earnings per share by application of the treasury stock method. The following table sets forth the calculations of basic and diluted net income (loss) per share: Three Months Ended Nine Months Ended (In thousands, except for share and per share amounts) September 24, 2022 September 25, 2021 September 24, 2022 September 25, 2021 Net income (loss) from continuing operations attributable to Franchise Group $ (121,163) $ 35,998 $ (67,862) $ 40,185 Less: Preferred dividend declared (2,129) (2,128) (6,386) (6,384) Adjusted net income (loss) from continuing operations available to Common Stockholders (123,292) 33,870 (74,248) 33,801 Net income from discontinued operations attributable to Franchise Group — 128,072 — 176,434 Adjusted net income (loss) available to Common Stockholders $ (123,292) $ 161,942 $ (74,248) $ 210,235 Weighted-average common stock outstanding 39,941,287 40,229,232 40,201,666 40,171,458 Net dilutive effect of stock options and restricted stock — 744,504 — 759,965 Weighted-average diluted shares outstanding 39,941,287 40,973,736 40,201,666 40,931,423 Basic net income (loss) per share: Continuing operations $ (3.09) $ 0.84 $ (1.85) $ 0.84 Discontinued operations — 3.18 — 4.39 Basic net income per share $ (3.09) $ 4.02 $ (1.85) $ 5.23 Diluted net income (loss) per share: Continuing operations $ (3.09) $ 0.83 $ (1.85) $ 0.83 Discontinued operations — 3.13 — 4.31 Diluted net income per share $ (3.09) $ 3.96 $ (1.85) $ 5.14

Stock Compensation Plans

Stock Compensation Plans	9 Months Ended
	Sep. 24, 2022
Share-Based Payment Arrangement [Abstract]
Stock Compensation Plans	Stock Compensation Plans For a discussion of our stock-based compensation plans, refer to “Note 11. - Stock Compensation Plans” of the most recently filed Form 10-K. Restricted Stock Units The Company has awarded service-based restricted stock units (the "RSUs") to its non-employee directors, officers and certain employees. The Company recognizes expense based on the estimated fair value of the RSUs granted over the vesting period on a straight-line basis. The fair value of RSUs is determined using the Company's closing stock price on the date of the grant. At September 24, 2022, unrecognized compensation costs related to the RSUs were $6.2 million. These costs are expected to be recognized through fiscal year 2024. The following table summarizes the status of the RSUs as of and changes during the nine months ended September 24, 2022: Number of RSUs Weighted average fair value at grant date Balance as of December 25, 2021 269,708 $ 27.92 Granted 118,359 42.15 Vested (67,819) 39.26 Canceled — — Balance as of September 24, 2022 320,248 $ 33.23 Performance Restricted Stock Units The Company has awarded performance restricted stock units (the "PRSUs") to its officers and certain employees. The Company recognizes expense based on the estimated fair value of the PRSUs granted over the vesting period on a straight-line basis. The fair value of PRSUs is determined using the Company's closing stock price on the date of the grant. At September 24, 2022, unrecognized compensation costs related to the PRSUs were $5.4 million. These costs are expected to be recognized through fiscal year 2024. The following table summarizes the status of the PRSUs as of and changes during the nine months ended September 24, 2022: Number of PRSUs Weighted average fair value at grant date Balance as of December 25, 2021 706,260 $ 19.90 Granted 102,930 42.25 Vested — — Canceled — — Balance as of September 24, 2022 809,190 $ 22.74 Market-Based Performance Restricted Stock Units The Company has awarded market-based performance restricted stock units (the "MPRSUs") to its officers and certain employees. The Company recognizes expense based on the estimated fair value of the MPRSUs granted over the vesting period on a straight-line basis. The fair value of MPRSUs is determined using a Monte Carlo simulation valuation model to calculate grant date fair value. Compensation expense is recognized over the requisite service period using the proportionate amount of the award's fair value that has been earned through service to date. Under GAAP, compensation expense is not reversed if the award target is not achieved. At September 24, 2022, unrecognized compensation costs related to the MPRSUs were $11.7 million. These costs are expected to be recognized through fiscal year 2024. The following table summarizes the status of the MPRSUs as of and changes during the nine months ended September 24, 2022: Number of MPRSUs Weighted average fair value at grant date Balance as of December 25, 2021 826,926 $ 20.13 Granted 70,000 54.00 Vested — — Canceled (28,000) 20.54 Balance as of September 24, 2022 868,926 $ 21.71 Stock Options The Company has awarded stock options to its non-employee directors and officers. As of September 24, 2022 and September 25, 2021, there were 259,064 and 355,221 stock options outstanding, respectively. During the nine months ended September 24, 2022, there were no stock options granted, 72,969 stock options exercised, and no stock options forfeited. The weighted-average exercise price of stock options outstanding was $9.46 per share as of September 24, 2022. All outstanding stock options will expire in fiscal years 2023 and 2024. At September 24, 2022 and September 25, 2021, there were zero non-vested stock options outstanding. At September 24, 2022, there was no remaining unrecognized compensation cost related to vested or non-vested stock options. The following table summarizes information about stock options outstanding and exercisable at September 24, 2022: Options Outstanding and Exercisable Range of exercise prices Number Weighted average exercise price Weighted average remaining contractual life (in years) $0.00 - $10.89 204,500 $ 8.80 0.8 $10.90 - $12.01 54,564 11.97 1.2 259,064 $ 9.46 Stock Compensation Expense The Company recorded $3.3 million and $4.1 million in stock-based compensation expense during the three months ended September 24, 2022 and September 25, 2021, respectively and $14.1 million and $9.6 million in stock-based compensation expense during the nine months ended September 24, 2022 and September 25, 2021, respectively. Long-Term Incentive Plans The Company has long-term incentive plans at various operating companies which are recorded as liabilities. Upon vesting, the awards granted under these plans may be settled in cash or shares of the Company's stock at the Company's discretion. The total aggregate liability for these plans as of September 24, 2022 is $7.1 million, recorded in "Accounts payable and accrued expenses" on the Condensed Consolidated Balance Sheets. During the nine months ended September 24, 2022, total expense recognized related to these plans was $5.4 million. Stock Repurchases On May 18, 2022, the Company's Board of Directors approved a stock repurchase program under which the Company may repurchase up to $500.0 million of its outstanding shares of common stock over the next three years. The repurchase program authorizes shares to be repurchased from time to time in open market or private transactions, through block trades, and pursuant to any trading plan that may be adopted in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended. The actual timing, number and value of shares, if any, repurchased under the program will be determined by management in its discretion and will depend on a number of factors, including, among others, the availability of stock, general market and business conditions, the trading price of the Company’s common stock and applicable legal requirements. This plan supersedes the Company's previous stock repurchase programs. During the nine months ended September 24, 2022, the Company repurchased 2,227,200 shares of its common stock through open market transactions totaling an aggregate of $77.9 million. No stock repurchases were made during the nine months ended September 25, 2021.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Sep. 24, 2022
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions The Company considers any of its directors, executive officers or beneficial owners of more than 5% of its common stock, or any member of the immediate family of the foregoing persons, to be related parties. Messrs. Kahn and Laurence Brian Kahn and Vintage Capital Management, LLC and its affiliates ("Vintage"), in aggregate, held approximately 23% of the aggregate voting power of the Company through their ownership of common stock as of September 24, 2022. Brian Kahn and Andrew Laurence are principals of Vintage. Mr. Kahn is a member of the Board of Directors, President and Chief Executive Officer of the Company. Mr. Laurence is an Executive Vice President of the Company and served as a member of the Company's Board of Directors until the Company's annual meeting of stockholders in May 2021. Buddy's Franchises. Mr. Kahn's brother-in-law owns eight Buddy's franchises. All transactions between the Company's Buddy's segment and Mr. Kahn's brother-in-law are conducted on a basis consistent with other franchisees. Tax Receivable Agreement The Company previously had a non-controlling interest in New Holdco as a result of its acquisition of Buddy's on July 10, 2019. On April 1, 2020, the Company redeemed all of the non-controlling interest units. On July 10, 2019, the Company entered into the Tax Receivable Agreement with the then-existing non-controlling interest holders, which comprised the former equity holders of Buddy's (the "Buddy's Members") that provides for the payment by the Company to the non-controlling interest holders of 40% of the amount of any tax benefits that the Company actually realizes as a result of increases in the tax basis of the net assets of New Holdco resulting from any redemptions or exchanges of New Holdco units. Amounts due under the Tax Receivable Agreement to the Buddy's Members as of September 24, 2022 and December 25, 2021 were $17.3 million, which are recorded in "Other non-current liabilities" in the accompanying Condensed Consolidated Balance Sheets. No payments were made to Buddy's Members pursuant to the Tax Receivable Agreement during the nine months ended September 24, 2022.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Sep. 24, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies In the ordinary course of operations, the Company may become a party to legal proceedings. Based upon information currently available, management believes that such legal proceedings, individually or in the aggregate, will not have a material adverse effect on the Company's business, financial condition, cash flows, or results of operations. The Company is party to claims and lawsuits that are considered to be ordinary, routine litigation incidental to the business, including claims and lawsuits concerning the fees charged to customers for various products and services, relationships with franchisees, intellectual property disputes, employment matters, and contract disputes. Although the Company cannot provide assurance that it will ultimately prevail in each instance, it believes the amount, if any, it will be required to pay in the discharge of liabilities or settlements in these claims will not have a material adverse impact on its consolidated results of operations, financial position, or cash flows. Guarantees The Company remains secondarily liable under various real estate leases that were assigned to franchisees who acquired Pet Supplies Plus stores from the Company. In the event of the failure of an acquirer to pay lease payments, the Company could be obligated to pay the remaining lease payments which extend through 2033 and in aggregate are $22.0 million and $22.9 million as of September 24, 2022 and December 25, 2021, respectively. The Company also remains secondarily liable under loan agreements entered into by certain franchisees who acquired Vitamin Shoppe, American Freight, or Buddy's stores from the Company. In the event of the failure of these franchisees to make the loan payments, the Company could be obligated to pay the default amounts. No amounts were outstanding under these agreements, and, therefore, the Company has no potential guarantee liability as of September 24, 2022. If the Company is required to make payments under any of these guarantees, the Company could seek to recover those amounts from the franchisees or in some cases their affiliates. The Company believes that payment under any of these guarantees is remote as of September 24, 2022.

Segments (Notes)

Segments (Notes)	3 Months Ended
	Sep. 24, 2022
Segment Reporting [Abstract]
Segment Reporting Disclosure [Text Block]	(13) Segments The Company's operations are conducted in six reportable business segments: Vitamin Shoppe, Pet Supplies Plus, Badcock, American Freight, Buddy's, and Sylvan. The Company defines its segments as those operations which results its chief operating decision maker ("CODM") regularly reviews to analyze performance and allocate resources. The results of operations of Pet Supplies Plus are included in the Company's results of operations beginning on March 11, 2021, the results of operations of Sylvan are included in the Company's results of operations beginning on September 27, 2021, and the results of operations of Badcock are included in the Company's results of operations beginning on November 22, 2021. The Vitamin Shoppe segment is an omnichannel specialty retailer and wellness lifestyle company with the mission of providing customers with the most trusted products, guidance, and services to help them become their best selves, however they define it. The Vitamin Shoppe segment offers one of the largest varieties of products among vitamin, mineral and supplement retailers. The broad product offering enables the company to provide customers with a depth of selection of products that may not be readily available at other specialty retailers or mass merchants, such as discount stores, supermarkets, drug stores and wholesale clubs. The Vitamin Shoppe continues to focus on improving the customer experience through the roll-out of initiatives including increasing customer engagement and personalization, redesigning the omnichannel experience (including in stores as well as through the internet and mobile devices), growing private brands and improving the effectiveness of pricing and promotions. Vitamin Shoppe is headquartered in Secaucus, New Jersey. The Pet Supplies Plus segment is a leading omnichannel retail chain and franchisor of pet supplies and services. Pet Supplies Plus has a diversified revenue model comprised of Company-owned store revenue, franchise royalties and revenue generated by the wholesale distribution of products to its franchisees. Pet Supplies Plus offers a curated selection of premium brands, proprietary private labels and specialty products with retail price parity with online players. Additionally, Pet Supplies Plus offers grooming, pet wash and other services in most of its locations. The Pet Supplies Plus segment operates under the "Pet Supplies Plus" brand and is headquartered in Livonia, Michigan. The Badcock segment is a retailer of furniture, appliances, bedding, electronics, home office equipment, accessories and seasonal items in a showroom format. Additionally, Badcock offers multiple and flexible payment solutions and credit options through its consumer financing services. The Badcock segment operates under the “Badcock Home Furniture & More" brand and is headquartered in Mulberry, Florida. The American Freight segment is a retail chain offering in-store and online access to furniture, mattresses, new and out-of-box home appliances and home accessories at discount prices. American Freight buys direct from manufacturers and sells direct in warehouse-style stores. By cutting out the middleman and keeping its overhead costs low, American Freight can offer quality products at low prices. American Freight provides customers with multiple payment options providing access to high-quality products and brand name appliances that may otherwise remain aspirational to some of its customers. American Freight also serves as a liquidation channel for major appliance vendors. American Freight operates specialty distribution centers that test every out-of-box appliance before it is offered for sale to customers. Customers typically are covered by the original manufacturer's warranty and are offered the opportunity to purchase a full suite of extended-service plans and services. The American Freight segment operates under the "American Freight" brand and is headquartered in Delaware, Ohio. The Buddy's segment is a specialty retailer of high quality, name brand consumer electronic, residential furniture, appliances and household accessories through rent-to-own agreements. The rental transaction allows customers the opportunity to benefit from the use of high-quality products under flexible rental purchase agreements without long-term obligations. The Buddy's segment operates under the "Buddy's" brand and is headquartered in Orlando, Florida. The Sylvan segment is an established and growing franchisor of supplemental education for Pre-K-12 students and families. Sylvan addresses the full range of student needs with a broad variety of academic curriculums delivered in an omnichannel format. The Sylvan platform provides franchisees with the ability to provide a range of services, including on premises, virtually, at a satellite location, and in the home. Sylvan is headquartered in Hunt Valley, Maryland. Refer to "Note 6. Revenue" for total revenues by segment. Operating income (loss) by segment were as follows: Three Months Ended Nine Months Ended (In thousands) September 24, 2022 September 25, 2021 September 24, 2022 September 25, 2021 Income (loss) from operations: Vitamin Shoppe $ 25,465 $ 27,792 $ 91,836 $ 90,830 Pet Supplies Plus 19,466 18,647 55,142 25,056 Badcock 11,445 — 112,578 — American Freight (77,903) 9,574 (61,661) 56,659 Buddy's 1,796 5,991 9,423 13,630 Sylvan 894 — 3,475 — Total Segments (18,837) 62,004 210,793 186,175 Corporate (7,170) (7,241) (29,329) (20,280) Consolidated income (loss) from operations $ (26,007) $ 54,763 $ 181,464 $ 165,895 Total assets by segment were as follows: (In thousands) September 24, 2022 December 25, 2021 Total assets: Vitamin Shoppe $ 614,332 $ 596,964 Pet Supplies Plus 979,316 957,849 Badcock 846,755 1,062,310 American Freight 924,790 959,282 Buddy's 138,364 146,033 Sylvan 100,172 103,850 Total Segments 3,603,729 3,826,288 Corporate 62,557 86,883 Consolidated total assets $ 3,666,286 $ 3,913,171

Organization and Significant _2

Organization and Significant Accounting Policies (Policies)	3 Months Ended	9 Months Ended
	Sep. 24, 2022	Sep. 24, 2022
Accounting Policies [Abstract]
Basis of Presentation		Unless otherwise stated, references to the "Company," "we," "us," and "our" in this Quarterly Report on Form 10-Q (this "Quarterly Report") refer to Franchise Group, Inc. and its direct and indirect subsidiaries on a consolidated basis. The unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim financial information and pursuant to the requirements of Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete consolidated financial statements. The unaudited condensed consolidated financial statements should be read in conjunction with the Company's Form 10-K for the year ended December 25, 2021 that was filed with the Securities and Exchange Commission (“SEC”) on February 23, 2022 (the “Form 10-K”). In the opinion of management, all adjustments (including those of a normal recurring nature) necessary for a fair presentation of such condensed consolidated financial statements in accordance with GAAP have been recorded. The December 25, 2021 balance sheet information was derived from the audited financial statements as of that date.
New Accounting Pronouncements, Policy	Accounting Pronouncements In June 2016, the Financial Accounting Standards Board ("FASB") issued ASU No. 2016-13, " Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments ", which changes how companies will measure credit losses for most financial assets and certain other instruments that aren't measured at fair value through net income. The standard replaces the "incurred loss" approach with an "expected loss" model for instruments measured at amortized cost (which generally will result in the earlier recognition of allowances for losses) and requires companies to record allowances for available-for-sale debt securities, rather than reduce the carrying amount. In addition, companies will have to disclose significantly more information, including information used to track credit quality by year of origination, for most financing receivables. The ASU should be applied as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the standard is effective. The ASU is effective for the Company for the fiscal year beginning January 1, 2023. The Company is currently evaluating the impact of the adoption of this standard on its consolidated financial statements. In January 2017, the FASB issued ASU No. 2017-04, “ Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. ” This standard eliminates Step 2 from the goodwill impairment test. Instead, an entity should compare the fair value of a reporting unit with its carrying amount and recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit's fair value, not to exceed the total amount of goodwill allocated to the reporting unit. The Company early adopted the ASU in the quarter ended September 24, 2022. Refer to "Note 5. Goodwill and Intangible Assets" for the calculation of the Company's impairment test after the adoption of ASU 2017-04. The London Interbank Offered Rate ("LIBOR") is scheduled to be discontinued on June 30, 2023. In an effort to address the various challenges created by such discontinuance, the FASB issued an amendment to existing guidance, ASU No. 2020-04 " Reference Rate Reform. " The amended guidance is designed to provide relief from the accounting analysis and impacts that may otherwise be required for modifications to agreements (e.g. loans, debt securities, derivatives, borrowings) necessitated by the reference rate reform. It also provides option expedients to enable companies to continue to apply hedge accounting to certain hedging relationships impacted by the reference rate reform. As further described in "Note 7. Long-Term Obligations", the Company entered into an amendment to a debt agreement which changed the reference rate from LIBOR to Secured Overnight Financing Rate ("SOFR"). The adoption of ASU 2020-04 did not result in a material impact to the Company's financial results or disclosures.

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
	Sep. 24, 2022
Business Combinations [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The table below summarizes the unaudited preliminary estimates of the fair values of the identifiable assets acquired and liabilities assumed in the Badcock Acquisition on November 22, 2021. The preliminary estimates of the fair value of identifiable assets acquired and liabilities assumed are subject to revisions, which may result in an adjustment to the preliminary values presented below. In the nine months ended September 24, 2022, the preliminary estimates of the fair value of identifiable assets acquired and liabilities assumed were adjusted, which resulted in an increase to the bargain purchase gain of $3.5 million. The increase was primarily due to the valuation of the property, plant, and equipment partially offset by an increase in other long-term liabilities for deferred taxes. The Company expects to complete the purchase price allocation as soon as reasonably possible but not to exceed one year from the date of completion of the Badcock Acquisition. (In thousands) Preliminary Cash and cash equivalents $ 23,413 Inventories, net 130,045 Accounts receivable 411,268 Other current assets 5,023 Property, plant, and equipment 238,865 Operating lease right-of-use assets 55,626 Other non-current assets 2,506 Total assets 866,746 Current operating lease liabilities 12,070 Accounts payable and accrued expenses 71,436 Other current liabilities 18,942 Current installments of long-term obligations 5,261 Long-term obligations, excluding current installments 7,247 Non-current operating lease liabilities 39,599 Other long-term liabilities 27,849 Total liabilities 182,404 Bargain purchase gain (135,557) Consideration transferred $ 548,785
Business Acquisition, Pro Forma Information, Nonrecurring Adjustments	The following unaudited consolidated pro forma summary has been prepared by adjusting the Company's historical data to give effect to the Acquisitions as if they had occurred on January 1, 2020. Pro forma (Unaudited) Three Months Ended Nine Months Ended (In thousands) September 24, 2022 September 25, 2021 September 24, 2022 September 25, 2021 Revenue $ 1,051,475 $ 1,071,394 $ 3,281,943 $ 3,216,259 Net income (loss) (121,163) 77,870 (70,470) 198,575 Basic net income (loss) per share $ (3.09) $ 1.88 $ (1.91) $ 4.78 Diluted net income (loss) per share $ (3.09) $ 1.85 $ (1.91) $ 4.70

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	9 Months Ended
	Sep. 24, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	Changes in the carrying amount of goodwill for the nine months ended September 24, 2022 are as follows: Vitamin Shoppe Pet Supplies Plus American Freight Buddy's Sylvan Total Balance as of December 25, 2021 $ 1,277 $ 335,875 $ 370,829 $ 79,099 $ 19,456 $ 806,536 Acquisitions — 1,717 — — — 1,717 Goodwill impairment — — (70,000) — — (70,000) Disposals and purchase accounting adjustments — (120) — — (50) (170) Balance as of September 24, 2022 $ 1,277 $ 337,472 $ 300,829 $ 79,099 $ 19,406 $ 738,083
Schedule of the amortizable other intangible assets	Components of intangible assets as of September 24, 2022 and December 25, 2021 were as follows: September 24, 2022 (In thousands) Gross carrying amount Accumulated Net carrying amount Indefinite lived tradenames $ 222,703 $ — $ 222,703 Intangible assets Franchise and dealer agreements $ 96,005 $ (12,499) $ 83,506 Customer contracts 42,414 (7,955) 34,459 Other intangible assets 2,090 (678) 1,412 Total intangible assets $ 140,509 $ (21,132) $ 119,377 December 25, 2021 (In thousands) Gross carrying amount Accumulated amortization Net carrying amount Indefinite lived tradenames $ 222,687 $ — $ 222,687 Intangible assets Franchise and dealer agreements $ 95,865 $ (6,571) $ 89,294 Customer contracts 42,414 (5,215) 37,199 Other intangible assets 1,836 (378) 1,458 Total intangible assets $ 140,115 $ (12,164) $ 127,951

Long-Term Obligations (Tables)

Long-Term Obligations (Tables)	9 Months Ended
	Sep. 24, 2022
Debt Disclosure [Abstract]
Schedule of Debt	For details regarding the Company's long-term debt obligations, refer to “Note 9. - Long-Term Obligations” in the Form 10-K. Long-term obligations at September 24, 2022 and December 25, 2021 were as follows: (In thousands) September 24, 2022 December 25, 2021 Term loans, net of debt issuance costs First lien term loan, due March 10, 2026 $ 778,232 $ 790,057 Second lien term loan, due September 10, 2026 288,839 287,188 Badcock first lien term loan, due November 22, 2023 — 201,530 Badcock second lien term loan, due November 22, 2023 — 146,616 Total term loans, net of debt issuance costs 1,067,071 1,425,391 Revolving credit facilities 126,000 20,000 Debt securitized by accounts receivable, net of discount 471,458 407,502 Other long-term obligations 7,428 10,537 Finance lease liabilities 7,166 6,465 Total long-term obligations 1,679,123 1,869,895 Less current installments 392,772 486,170 Total long-term obligations, net $ 1,286,351 $ 1,383,725

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Sep. 24, 2022
Equity [Abstract]
Schedule of computation of basic and diluted net income (loss) per share	The following table sets forth the calculations of basic and diluted net income (loss) per share: Three Months Ended Nine Months Ended (In thousands, except for share and per share amounts) September 24, 2022 September 25, 2021 September 24, 2022 September 25, 2021 Net income (loss) from continuing operations attributable to Franchise Group $ (121,163) $ 35,998 $ (67,862) $ 40,185 Less: Preferred dividend declared (2,129) (2,128) (6,386) (6,384) Adjusted net income (loss) from continuing operations available to Common Stockholders (123,292) 33,870 (74,248) 33,801 Net income from discontinued operations attributable to Franchise Group — 128,072 — 176,434 Adjusted net income (loss) available to Common Stockholders $ (123,292) $ 161,942 $ (74,248) $ 210,235 Weighted-average common stock outstanding 39,941,287 40,229,232 40,201,666 40,171,458 Net dilutive effect of stock options and restricted stock — 744,504 — 759,965 Weighted-average diluted shares outstanding 39,941,287 40,973,736 40,201,666 40,931,423 Basic net income (loss) per share: Continuing operations $ (3.09) $ 0.84 $ (1.85) $ 0.84 Discontinued operations — 3.18 — 4.39 Basic net income per share $ (3.09) $ 4.02 $ (1.85) $ 5.23 Diluted net income (loss) per share: Continuing operations $ (3.09) $ 0.83 $ (1.85) $ 0.83 Discontinued operations — 3.13 — 4.31 Diluted net income per share $ (3.09) $ 3.96 $ (1.85) $ 5.14

Stock Compensation Plans (Table

Stock Compensation Plans (Tables)	3 Months Ended
	Sep. 24, 2022
Share-Based Payment Arrangement [Abstract]
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity	The following table summarizes the status of the RSUs as of and changes during the nine months ended September 24, 2022: Number of RSUs Weighted average fair value at grant date Balance as of December 25, 2021 269,708 $ 27.92 Granted 118,359 42.15 Vested (67,819) 39.26 Canceled — — Balance as of September 24, 2022 320,248 $ 33.23

Organization and Significant _3

Organization and Significant Accounting Policies (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 24, 2022	Sep. 25, 2021	Sep. 24, 2022	Sep. 25, 2021	Dec. 25, 2021	Feb. 21, 2021
Geographical concentration
Deferred Revenue	$ 59,831		$ 59,831		$ 70,614
Intangible Assets, Net (Excluding Goodwill)	119,377		119,377		127,951
Assets	3,666,286		3,666,286		3,913,171
Deferred Revenue, Current	37,672		37,672		50,833
Liabilities	3,120,529		3,120,529		3,150,340
Retained Earnings (Accumulated Deficit)	134,416		134,416		286,987
Stockholders' Equity Attributable to Parent	545,757		545,757		762,831
Liabilities and Equity	3,666,286		3,666,286		$ 3,913,171
General and Administrative Expense	390,999	$ 276,714	1,173,633	$ 780,416
Operating Income (Loss)	(26,007)	54,763	181,464	165,895
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	(89,150)	20,479	(18,599)	24,585
Income Tax Expense (Benefit)	32,013	$ (15,519)	49,263	(15,600)
Revenues	$ 1,051,476		3,281,943
Payments for Repurchase of Common Stock			$ 77,876	$ 0
Liberty Tax Segment | Discontinued Operations, Held-for-sale
Geographical concentration
Disposal Group, Including Discontinued Operation, Consideration						$ 255,300

Acquisitions (Details)

Acquisitions (Details) - USD ($) $ / shares in Units, $ in Thousands					3 Months Ended		9 Months Ended
	Feb. 22, 2022	Sep. 27, 2021	Mar. 27, 2021	Mar. 10, 2021	Sep. 24, 2022	Sep. 25, 2021	Sep. 24, 2022	Sep. 25, 2021	Dec. 25, 2021	Nov. 22, 2021
Revenues					$ 1,051,476		$ 3,281,943
Goodwill					738,083		738,083		$ 806,536
Long-term Debt, Current Maturities					392,772		392,772		486,170
Long-term Debt, Excluding Current Maturities					1,286,351		1,286,351		1,383,725
Business Combination, Bargain Purchase, Gain Recognized, Amount							135,600
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net		$ 82,877
Business Acquisition, Pro Forma Revenue					1,051,475	$ 1,071,394	3,281,943	$ 3,216,259
Business Acquisition, Pro Forma Net Income (Loss)					$ (121,163)	$ 77,870	$ (70,470)	$ 198,575
Basic Earnings Per Share, Pro Forma					$ (3.09)	$ 1.88	$ (1.91)	$ 4.78
Diluted Earnings Per Share Pro Forma					$ (3.09)	$ 1.85	$ (1.91)	$ 4.70
Capitalized Computer Software, Gross		25,300
Operating Lease, Right-of-Use Asset					$ 884,197		$ 884,197		714,741
Operating Lease, Liability, Current					178,622		178,622		173,101
Financing Receivable, before Allowance for Credit Loss, Noncurrent					10,387		10,387		$ 12,183
Asset-backed Securities, Securitized Loans and Receivables
Financing Receivable, before Allowance for Credit Loss, Noncurrent					54,900		54,900
Fair Value Adjustment to Inventory
Inventory, Noncurrent, Fair Value Disclosure					2,300		2,300
Acquisition-related Costs
Business Combination, Acquisition Related Costs							4,900
Badcock
Revenues					210,278		699,835
Business Combination, Bargain Purchase, Gain Recognized, Amount							(135,557)
Pet Supplies Plus
Business Combination, Consideration Transferred	$ 600
Business Combination, Acquisition Related Costs			$ 800
Payments to Acquire Businesses, Gross	$ 900
Badcock
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents										$ 23,413
Business Combination, Consideration Transferred				$ 548,800
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Other										130,045
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory										411,268
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment										5,023
Goodwill										238,865
Business Combination, Recognized Identifiable Assets Acquired And Liabilities Assumed, Right-Of-Use Asset										55,626
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets										2,506
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets										866,746
Business Combination, Recognized Identifiable Assets Acquired And Liabilities Assumed, Operating Lease, Liability, Current										12,070
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable										71,436
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other										18,942
Long-term Debt, Current Maturities										5,261
Long-term Debt, Excluding Current Maturities										7,247
Business Combination, Recognized Identifiable Assets Acquired And Liabilities Assumed, Operating Lease, Liability, Noncurrent										39,599
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other										27,849
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities										182,404
Business Combination, Bargain Purchase, Gain Recognized, Amount							3,500
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net										548,785
Business Combination, Recognized Identifiable Asset Acquired and Liability Assumed, Lease Obligation										51,700
Sylvan Learning
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net					$ 82,900		$ 82,900
Sylvan
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents		4,364
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Other		3,592
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment		26,324
Goodwill		19,406
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets		185
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets		101,144
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable		6,072
Business Combination, Recognized Identifiable Assets Acquired And Liabilities Assumed, Operating Lease, Liability, Noncurrent		1,984
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other		9,320
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities		18,267
Noncash or Part Noncash Acquisition, Investments Acquired		19,412
Fixtures and Equipment, Gross		300
Leasehold Improvements, Gross		700
Intangible Assets, Current		24,987
Operating Lease, Right-of-Use Asset		2,874
Operating Lease, Liability, Current		891
Sylvan | Proprietary Content
Noncash or Part Noncash Acquisition, Investments Acquired		1,100
Sylvan | Franchise Agreements [Member]
Noncash or Part Noncash Acquisition, Investments Acquired		$ 18,300
Leasehold Improvements [Member] | Badcock
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment										23,700
Furniture, Fixtures, And Equipment [Member] | Badcock
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment										93,000
Construction in Progress [Member] | Badcock
Machinery and Equipment, Gross										1,400
Land and Land Improvements | Badcock
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment										33,400
Building and Building Improvements | Badcock
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment										$ 98,000

Divestitures - Narrative (Detai

Divestitures - Narrative (Details) - USD ($) $ in Thousands, shares in Millions		3 Months Ended			9 Months Ended
	Feb. 21, 2021	Sep. 24, 2022	Jun. 25, 2022	Sep. 25, 2021	Sep. 24, 2022	Sep. 25, 2021	Dec. 25, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Assets Held-for-sale, Not Part of Disposal Group, Current		$ 8,816			$ 8,816		$ 0
Sale Leaseback Transaction, Gross Proceeds		23,500			265,800
Gain on sale-leaseback transactions, net		9,371		$ 0	59,225	$ 0
Sale and Leaseback Transaction, Gains		10,600			64,700
Sale and Leaseback Transaction, Loss		$ 1,200			$ (5,500)
Badcock
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from Sale of Other Receivables			$ 400,000
Liberty Tax Segment | Discontinued Operations, Held-for-sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Group, Including Discontinued Operation, Consideration	$ 255,300
Proceeds from Divestiture of Businesses	$ 181,200
Disposal Group, Including Discontinued Operation, Consideration, Number Of Proportional Voting Shares, Shares (at least) (in shares)	74.1

Divestitures - Summary of State

Divestitures - Summary of Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 24, 2022	Sep. 25, 2021	Sep. 25, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent	$ 0
Discontinued Operations, Held-for-sale | Liberty Tax [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenue		$ 493	$ 107,486
Selling, general, and administrative expenses		6,886	64,672
Income from operations		(6,393)	42,814
Discontinued Operation, Gain (Loss) from Disposal of Discontinued Operation, before Income Tax		173,699	173,699
Other		(3)	165
Interest expense, net		(3)	(4)
Income before income taxes		167,300	216,674
Income tax expense		39,228	40,240
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent		$ 128,072	$ 176,434

Divestitures - Summary of Cash

Divestitures - Summary of Cash Flow Information (Details) - Discontinued Operations, Held-for-sale - Liberty Tax [Member] $ in Thousands	9 Months Ended
	Sep. 25, 2021 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash flows provided by operating activities from discontinued operations	$ 39,334
Cash flows provided by investing activities from discontinued operations	$ 173,633

Accounts and Notes Receivable -

Accounts and Notes Receivable - Schedule of Receivables (Details) - USD ($) $ in Thousands	Sep. 24, 2022	Dec. 25, 2021
Receivables [Abstract]
Accounts receivable	$ 101,485	$ 86,087
Notes receivable	1,160	1,735
Income taxes receivable	41,811	32,448
Accounts Receivable, Allowance for Credit Loss, Current	(1,216)	(1,572)
Total Receivables, Current, Net	143,240	118,698
Financing Receivable, before Allowance for Credit Loss, Noncurrent	10,387	12,183
Accounts Receivable, Allowance for Credit Loss, Noncurrent	(138)	(428)
Receivables, Net, Non-current	10,249	11,755
Receivables, Fair Value Disclosure	$ 153,489	$ 130,453

Accounts and Notes Receivable_2

Accounts and Notes Receivable - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Jun. 25, 2022	Sep. 24, 2022	Dec. 25, 2021
Aging of accounts and notes receivable
Financing Receivable, before Allowance for Credit Loss, Noncurrent		$ 10,387	$ 12,183
Asset-backed Securities, Securitized Loans and Receivables
Aging of accounts and notes receivable
Financing Receivable, before Allowance for Credit Loss, Current		417,800
Financing Receivable, Allowance for Credit Loss, Current		(40,000)
Financing Receivable, before Allowance for Credit Loss, Noncurrent		54,900
Financing Receivable, Allowance for Credit Loss, Non Current		(5,300)
Other Current Assets
Aging of accounts and notes receivable
Financing Receivable, Unamortized Purchase Premium (Discount)		(36,700)
Other Noncurrent Assets
Aging of accounts and notes receivable
Financing Receivable, Unamortized Purchase Premium (Discount)		(4,800)
Badcock
Aging of accounts and notes receivable
Proceeds from Sale of Other Receivables	$ 400,000
Proceeds from Accounts Receivable Securitization		$ 298,900

Changes in the Carrying Amount

Changes in the Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 24, 2022	Sep. 25, 2021	Sep. 24, 2022	Sep. 25, 2021	Dec. 25, 2021
Finite-Lived Intangible Assets [Line Items]
Goodwill, Acquired in Acquisition			$ 1,717
ERROR in label resolution.	$ 140,509		140,509		$ 140,115
Finite-Lived Intangible Assets, Accumulated Amortization	(21,132)		(21,132)		(12,164)
Intangible Assets, Net (Excluding Goodwill)	119,377		119,377		127,951
Goodwill, Impairment Loss	70,000	$ 0	70,000	$ 0
Noncompete Agreements [Member]
Finite-Lived Intangible Assets [Line Items]
ERROR in label resolution.	96,005		96,005		95,865
Finite-Lived Intangible Assets, Accumulated Amortization					(6,571)
Intangible Assets, Net (Excluding Goodwill)					89,294
Customer Contracts [Member]
Finite-Lived Intangible Assets [Line Items]
ERROR in label resolution.	42,414		42,414		42,414
Finite-Lived Intangible Assets, Accumulated Amortization	(7,955)		(7,955)		(5,215)
Intangible Assets, Net (Excluding Goodwill)	$ 34,459		34,459		$ 37,199
Pet Supplies Plus
Finite-Lived Intangible Assets [Line Items]
Goodwill, Acquired in Acquisition			1,717
Goodwill, Impairment Loss			$ 0

Components of Intangible Assets

Components of Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 24, 2022	Sep. 25, 2021	Sep. 24, 2022	Sep. 25, 2021	Dec. 25, 2021	Sep. 27, 2021
Amortizable other intangible assets:
Gross carrying amount	$ 140,509		$ 140,509		$ 140,115
Accumulated amortization	(21,132)		(21,132)		(12,164)
Net carrying amount	119,377		119,377		127,951
Goodwill	738,083		738,083		806,536
Goodwill, Acquired in Acquisition			1,717
Goodwill, Impairment Loss	(70,000)	$ 0	(70,000)	$ 0
Goodwill, Period Increase (Decrease)	(170)
American Freight [Member]
Amortizable other intangible assets:
Goodwill	300,829		300,829		370,829
Pet Supplies Plus
Amortizable other intangible assets:
Goodwill	337,472		337,472		335,875
Buddy's [Member]
Amortizable other intangible assets:
Goodwill	79,099		79,099		79,099
Sylvan Learning
Amortizable other intangible assets:
Goodwill	19,406		19,406		19,456
Trade Names [Member]
Amortizable other intangible assets:
Indefinite-Lived Trademarks	222,703		222,703		222,687
Franchise Agreements [Member]
Amortizable other intangible assets:
Accumulated amortization	(12,499)		(12,499)
Net carrying amount	83,506		83,506
Noncompete Agreements [Member]
Amortizable other intangible assets:
Gross carrying amount	96,005		96,005		95,865
Accumulated amortization					(6,571)
Net carrying amount					89,294
Reacquired rights
Amortizable other intangible assets:
Gross carrying amount	2,090		2,090		1,836
Accumulated amortization	(678)		(678)		(378)
Net carrying amount	1,412		1,412		1,458
Customer Contracts [Member]
Amortizable other intangible assets:
Gross carrying amount	42,414		42,414		42,414
Accumulated amortization	(7,955)		(7,955)		(5,215)
Net carrying amount	34,459		34,459		$ 37,199
American Freight [Member]
Amortizable other intangible assets:
Goodwill, Acquired in Acquisition			0
Goodwill, Impairment Loss			(70,000)
Goodwill, Period Increase (Decrease)	0
Pet Supplies Plus
Amortizable other intangible assets:
Goodwill, Acquired in Acquisition			1,717
Goodwill, Impairment Loss			0
Goodwill, Period Increase (Decrease)	(120)
Buddy's [Member]
Amortizable other intangible assets:
Goodwill, Acquired in Acquisition			0
Goodwill, Impairment Loss			0
Goodwill, Period Increase (Decrease)	0
Buddy's [Member]
Amortizable other intangible assets:
Goodwill, Acquired in Acquisition			0
Goodwill, Impairment Loss			0
Goodwill, Period Increase (Decrease)	0
Sylvan Learning
Amortizable other intangible assets:
Goodwill, Acquired in Acquisition			0
Goodwill, Impairment Loss			$ 0
Sylvan
Amortizable other intangible assets:
Goodwill						$ 19,406
Goodwill, Period Increase (Decrease)	$ (50)

Revenue Revenue (Details)

Revenue Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 24, 2022	Sep. 25, 2021	Sep. 24, 2022	Sep. 25, 2021	Dec. 25, 2021
Revenues	$ 1,051,476		$ 3,281,943
Interest income	40,596		155,279
Revenues:
Lease Income	6,851		22,217
Deferred Revenue	59,831		59,831		$ 70,614
Deferred Revenue, Noncurrent	7,092		7,092		8,400
Accounts receivable	101,485		101,485		86,087
Financing Receivable, before Allowance for Credit Loss	11,360		11,360		13,864
Vitamin Shoppe [Member]
Revenues	296,152	$ 300,813	914,003	$ 898,108
Revenues:
Lease Income	0	0	0	0
American Freight [Member]
Revenues	199,316	223,591	667,157	750,914
Interest income	187	287	574	872
Revenues:
Lease Income	0	0	0	0
Pet Supplies Plus
Revenues	323,026	286,643	926,973	613,712
Interest income	80	71	220	156
Revenues:
Lease Income	0	0	0	0
Buddy's [Member]
Revenues	13,160	17,779	42,875	50,195
Interest income	0		0
Revenues:
Lease Income	6,851	8,327	22,217	26,077
Sylvan
Revenues	9,544		31,100
Revenues:
Lease Income	0		0
Badcock
Revenues	210,278		699,835
Interest income	40,329		154,485
Revenues:
Lease Income	0		0
Consolidated
Revenues		828,826		2,312,929
Interest income		358		1,028
Revenues:
Lease Income		8,327		26,077
Retail [Member]
Revenues	777,830		2,444,306
Retail [Member] | Vitamin Shoppe [Member]
Revenues	295,527	300,721	912,141	897,934
Retail [Member] | American Freight [Member]
Revenues	170,861	207,660	577,162	686,194
Retail [Member] | Pet Supplies Plus
Revenues	163,957	162,931	477,927	351,147
Retail [Member] | Buddy's [Member]
Revenues	450	784	2,181	3,221
Retail [Member] | Sylvan
Revenues	15		38
Retail [Member] | Badcock
Revenues	147,020		474,857
Retail [Member] | Consolidated
Revenues		672,096		1,938,496
Wholesale
Revenues	145,057		409,754
Wholesale | Vitamin Shoppe [Member]
Revenues	280		768
Wholesale | American Freight [Member]
Revenues	3,047	617	9,828	617
Wholesale | Pet Supplies Plus
Revenues	141,730	109,895	399,158	233,080
Wholesale | Buddy's [Member]
Revenues	0		0
Wholesale | Sylvan
Revenues	0		0
Wholesale | Badcock
Revenues	0		0
Wholesale | Consolidated
Revenues		110,512		233,697
Product [Member]
Revenues	922,887		2,854,060
Product [Member] | Vitamin Shoppe [Member]
Revenues	295,807	300,721	912,909	897,934
Product [Member] | American Freight [Member]
Revenues	173,908	208,277	586,990	686,811
Product [Member] | Pet Supplies Plus
Revenues	305,687	272,826	877,085	584,227
Product [Member] | Buddy's [Member]
Revenues	450	784	2,181	3,221
Product [Member] | Sylvan
Revenues	15		38
Product [Member] | Badcock
Revenues	147,020		474,857
Product [Member] | Consolidated
Revenues		782,608		2,172,193
Royalties and Advertising [Member]
Revenues	23,819		73,285
Royalties and Advertising [Member] | Vitamin Shoppe [Member]
Revenues	170	92	511	174
Royalties and Advertising [Member] | American Freight [Member]
Revenues	505	955	1,567	1,926
Royalties and Advertising [Member] | Pet Supplies Plus
Revenues	9,833	7,565	28,290	16,038
Royalties and Advertising [Member] | Buddy's [Member]
Revenues	4,344	5,700	13,773	14,934
Royalties and Advertising [Member] | Sylvan
Revenues	8,967		29,144
Royalties and Advertising [Member] | Badcock
Revenues	0		0
Royalties and Advertising [Member] | Consolidated
Revenues		14,312		33,072
Financial Service [Member]
Revenues	9,454	10,808	28,488	31,338
Financial Service [Member] | Vitamin Shoppe [Member]
Revenues	0		0
Interest income	0		0
Financial Service [Member] | American Freight [Member]
Revenues	9,060	10,808	28,094	31,338
Financial Service [Member] | Pet Supplies Plus
Revenues	0		0
Financial Service [Member] | Buddy's [Member]
Revenues	0		0
Financial Service [Member] | Sylvan
Revenues	0		0
Financial Service [Member] | Badcock
Revenues	394		394
Membership [Member]
Revenues	23,288		75,119
Membership [Member] | Vitamin Shoppe [Member]
Revenues	0		0
Membership [Member] | American Freight [Member]
Revenues	9,254	416	31,410	19,914
Membership [Member] | Pet Supplies Plus
Revenues	0		0
Membership [Member] | Buddy's [Member]
Revenues	1,438	1,618	4,522	5,140
Membership [Member] | Sylvan
Revenues	0		0
Membership [Member] | Badcock
Revenues	12,596		39,187
Membership [Member] | Consolidated
Revenues		2,034		25,054
Service, Other [Member]
Revenues	24,581		73,495
Service, Other [Member] | Vitamin Shoppe [Member]
Revenues	175	0	583	0
Service, Other [Member] | American Freight [Member]
Revenues	6,402	2,848	18,522	10,053
Service, Other [Member] | Pet Supplies Plus
Revenues	7,426	6,181	21,378	13,291
Service, Other [Member] | Buddy's [Member]
Revenues	77	1,350	182	823
Service, Other [Member] | Sylvan
Revenues	562		1,918
Service, Other [Member] | Badcock
Revenues	9,939		30,912
Service, Other [Member] | Consolidated
Revenues		10,379		24,167
Service [Member]
Revenues	121,738		405,666
Service [Member] | Vitamin Shoppe [Member]
Revenues	345	92	1,094	174
Service [Member] | American Freight [Member]
Revenues	25,408	15,314	80,167	64,103
Service [Member] | Pet Supplies Plus
Revenues	17,339	13,817	49,888	29,485
Service [Member] | Buddy's [Member]
Revenues	5,859	8,668	18,477	20,897
Service [Member] | Sylvan
Revenues	9,529		31,062
Service [Member] | Badcock
Revenues	63,258		224,978
Service [Member] | Consolidated
Revenues		37,891		114,659
Gift Cards And Loyalty Programs
Revenues:
Contract with Customer, Liability	8,084	7,604	8,084	7,604
Franchise Fees
Revenues:
Contract with Customer, Liability	24,337		24,337		$ 16,984
customer deposit
Revenues:
Contract with Customer, Liability	$ 20,318	$ 37,626	$ 20,318	$ 37,626

Revenue Revenue (Details 1)

Revenue Revenue (Details 1) - USD ($) $ in Thousands	Sep. 24, 2022	Dec. 25, 2021
Revenue from Contract with Customer [Abstract]
Deferred Revenue	$ 59,831	$ 70,614

Revenue Revenue (Details 2)

Revenue Revenue (Details 2) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 24, 2022	Sep. 25, 2021	Sep. 24, 2022	Sep. 25, 2021
Revenues	$ 1,051,476		$ 3,281,943
Lease Income	6,851		22,217
Interest income	40,596		155,279
Product [Member]
Revenues	922,887		2,854,060
Royalties and Advertising [Member]
Revenues	23,819		73,285
Financial Service [Member]
Revenues	9,454	$ 10,808	28,488	$ 31,338
Membership [Member]
Revenues	23,288		75,119
Service, Other [Member]
Revenues	24,581		73,495
Service [Member]
Revenues	121,738		405,666
Retail [Member]
Revenues	777,830		2,444,306
Wholesale
Revenues	145,057		409,754
Vitamin Shoppe [Member]
Revenues	296,152	300,813	914,003	898,108
Lease Income	0	0	0	0
Vitamin Shoppe [Member] | Product [Member]
Revenues	295,807	300,721	912,909	897,934
Vitamin Shoppe [Member] | Royalties and Advertising [Member]
Revenues	170	92	511	174
Vitamin Shoppe [Member] | Financial Service [Member]
Revenues	0		0
Interest income	0		0
Vitamin Shoppe [Member] | Membership [Member]
Revenues	0		0
Vitamin Shoppe [Member] | Service, Other [Member]
Revenues	175	0	583	0
Vitamin Shoppe [Member] | Service [Member]
Revenues	345	92	1,094	174
Vitamin Shoppe [Member] | Retail [Member]
Revenues	295,527	300,721	912,141	897,934
Vitamin Shoppe [Member] | Wholesale
Revenues	280		768
American Freight [Member]
Revenues	199,316	223,591	667,157	750,914
Lease Income	0	0	0	0
Interest income	187	287	574	872
American Freight [Member] | Product [Member]
Revenues	173,908	208,277	586,990	686,811
American Freight [Member] | Royalties and Advertising [Member]
Revenues	505	955	1,567	1,926
American Freight [Member] | Financial Service [Member]
Revenues	9,060	10,808	28,094	31,338
American Freight [Member] | Membership [Member]
Revenues	9,254	416	31,410	19,914
American Freight [Member] | Service, Other [Member]
Revenues	6,402	2,848	18,522	10,053
American Freight [Member] | Service [Member]
Revenues	25,408	15,314	80,167	64,103
American Freight [Member] | Retail [Member]
Revenues	170,861	207,660	577,162	686,194
American Freight [Member] | Wholesale
Revenues	3,047	617	9,828	617
Buddy's [Member]
Revenues	13,160	17,779	42,875	50,195
Lease Income	6,851	8,327	22,217	26,077
Interest income	0		0
Buddy's [Member] | Product [Member]
Revenues	450	784	2,181	3,221
Buddy's [Member] | Royalties and Advertising [Member]
Revenues	4,344	5,700	13,773	14,934
Buddy's [Member] | Financial Service [Member]
Revenues	0		0
Buddy's [Member] | Membership [Member]
Revenues	1,438	1,618	4,522	5,140
Buddy's [Member] | Service, Other [Member]
Revenues	77	1,350	182	823
Buddy's [Member] | Service [Member]
Revenues	5,859	8,668	18,477	20,897
Buddy's [Member] | Retail [Member]
Revenues	450	784	2,181	3,221
Buddy's [Member] | Wholesale
Revenues	0		0
Pet Supplies Plus
Revenues	323,026	286,643	926,973	613,712
Lease Income	0	0	0	0
Interest income	80	71	220	156
Pet Supplies Plus | Product [Member]
Revenues	305,687	272,826	877,085	584,227
Pet Supplies Plus | Royalties and Advertising [Member]
Revenues	9,833	7,565	28,290	16,038
Pet Supplies Plus | Financial Service [Member]
Revenues	0		0
Pet Supplies Plus | Membership [Member]
Revenues	0		0
Pet Supplies Plus | Service, Other [Member]
Revenues	7,426	6,181	21,378	13,291
Pet Supplies Plus | Service [Member]
Revenues	17,339	13,817	49,888	29,485
Pet Supplies Plus | Retail [Member]
Revenues	163,957	162,931	477,927	351,147
Pet Supplies Plus | Wholesale
Revenues	$ 141,730	109,895	$ 399,158	233,080
Consolidated
Revenues		828,826		2,312,929
Lease Income		8,327		26,077
Interest income		358		1,028
Consolidated | Product [Member]
Revenues		782,608		2,172,193
Consolidated | Royalties and Advertising [Member]
Revenues		14,312		33,072
Consolidated | Membership [Member]
Revenues		2,034		25,054
Consolidated | Service, Other [Member]
Revenues		10,379		24,167
Consolidated | Service [Member]
Revenues		37,891		114,659
Consolidated | Retail [Member]
Revenues		672,096		1,938,496
Consolidated | Wholesale
Revenues		$ 110,512		$ 233,697

Long-Term Obligations (Details)

Long-Term Obligations (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 24, 2022	Sep. 24, 2022	Sep. 25, 2021	Dec. 25, 2021
Credit facility
Debt Instrument, Face Amount	$ 250,000	$ 250,000
Debt Securitized by Accounts Receivable, Net of Discount	471,458	471,458		$ 407,502
Other Long-term Debt	7,428	7,428		10,537
Long-term Debt and Lease Obligation, Including Current Maturities	1,679,123	1,679,123		1,869,895
Current Installments of Long-Term Obligation	392,772	392,772		486,170
Long-term Debt, Excluding Current Maturities	1,286,351	1,286,351		1,383,725
Debt Securitized by Accounts Receivable, Gross of Discount	395,600	395,600
Amortization of Debt Discount (Premium)	75,900	71,446	$ 0
Debt Instrument, Increase (Decrease), Other, Net		200,000
Asset-backed Securities, Securitized Loans and Receivables
Credit facility
Debt Securitized by Accounts Receivable, Net of Discount	386,100	386,100
Debt Securitized by Accounts Receivable, Gross of Discount	324,000	324,000
Term loan
Credit facility
Total debt	1,067,071	1,067,071		1,425,391
Revolver
Credit facility
Total debt	126,000	126,000		20,000
Finance Lease Liability [Member]
Credit facility
Total debt	7,166	7,166		6,465
Senior Secured Notes, First Lien Credit Agreement | Term loan
Credit facility
Debt Instrument, Face Amount	778,232	778,232		790,057
Senior Secured Notes, First Lien Credit Agreement | Badcock First Lien Term Loan
Credit facility
Debt Instrument, Face Amount	0	0		201,530
Senior Lien | Term loan
Credit facility
Debt Instrument, Face Amount	288,839	288,839		287,188
Senior Secured Notes, Second Lien Credit Agreement | Term loan
Credit facility
Debt Instrument, Face Amount	0	0		$ 146,616
Short-term Debt
Credit facility
Amortization of Debt Discount (Premium)		62,100
Third Amended And Restated Loan And Security Agreement | Revolver
Credit facility
Debt Instrument, Face Amount	$ 400,000	400,000
Proceeds from Lines of Credit		$ 126,000
Debt Instrument, Covenant, Event Of Default, Additional Interest, If Criteria Met, Percentage	2%	2%
Senior Subordinated Notes | Long-term Debt | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Credit facility
Debt Instrument, Currency		0.5% to 2.0

Income Taxes (Details)

Income Taxes (Details) - USD ($)		3 Months Ended		9 Months Ended
	Jul. 10, 2019	Sep. 24, 2022	Sep. 25, 2021	Sep. 24, 2022	Sep. 25, 2021
Income Tax Disclosure [Abstract]
Tax Receivable Agreement, Payment to Non-controlling Holders	40%
Effective Income Tax Rate Reconciliation at Federal Statutory Income Tax Rate, Amount		$ (0.359)	$ (0.758)	$ (2.649)	$ (0.635)

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 24, 2022	Sep. 25, 2021	Sep. 24, 2022	Sep. 25, 2021
Stockholders' Equity
Dividends, Preferred Stock	$ (2,129)	$ (2,128)	$ (6,386)	$ (6,384)
Net Income (Loss) from Continuing Operations Available to Common Shareholders, Basic	(123,292)	33,870	(74,248)	33,801
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent	0
Net Income (Loss) Available to Common Stockholders, Basic	$ (123,292)	$ 161,942	$ (74,248)	$ 210,235
Weighted Average Number of Shares Outstanding, Basic	39,941,287	40,229,232	40,201,666	40,171,458
Weighted Average Number of Shares Outstanding, Diluted	39,941,287	40,973,736	40,201,666	40,931,423
Incremental Common Shares Attributable to Dilutive Effect of Options and Restricted Stock Units	0	744,504	0	759,965
Basic	$ (3.09)	$ 0.84	$ (1.85)	$ 0.84
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Basic Share	0	3.18	0	4.39
Earnings Per Share, Basic	(3.09)	4.02	(1.85)	5.23
Diluted	(3.09)	0.83	(1.85)	0.83
Diluted	0	3.13	0	4.31
Earnings Per Share, Diluted	$ (3.09)	$ 3.96	$ (1.85)	$ 5.14
Common Class A [Member]
Stockholders' Equity
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent	$ (121,163)
Weighted Average Number of Shares Outstanding, Basic	39,941,287	40,229,232	40,201,666	40,171,458
Earnings Per Share, Basic	$ (3.09)	$ 4.02	$ (1.85)	$ 5.23

Stock Compensation Plans (Detai

Stock Compensation Plans (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 24, 2022	Sep. 25, 2021	Sep. 24, 2022	Sep. 25, 2021	May 18, 2022
Nonvested stock option activity, Weighted average exercise price
Stock Repurchase Program, Authorized Amount					$ 500
Stock Repurchased During Period, Shares			2,227,200
Stock Repurchased During Period, Value			$ 77.9
Employee Benefits and Share-Based Compensation	$ 3.3	$ 4.1	$ 14.1	$ 9.6
Restricted Stock Units
Nonvested stock option activity, Nonvested options
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number, Beginning Balance			269,708
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted			118,359
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period			(67,819)
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Expirations			0
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number	320,248		320,248
Nonvested stock option activity, Weighted average exercise price
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Weighted Average Grant Date Fair Value			$ 27.92
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted, Weighted Average Grant Date Fair Value			42.15
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value			39.26
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Expirations, Weighted Average Grant Date Fair Value			0
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Weighted Average Grant Date Fair Value	$ 33.23		$ 33.23
Performance Shares
Nonvested stock option activity, Nonvested options
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number, Beginning Balance			706,260
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted			102,930
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period			0
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Expirations			0
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number	809,190		809,190
Nonvested stock option activity, Weighted average exercise price
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Weighted Average Grant Date Fair Value			$ 19.90
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted, Weighted Average Grant Date Fair Value			42.25
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value			0
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Expirations, Weighted Average Grant Date Fair Value			0
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Weighted Average Grant Date Fair Value	$ 22.74		$ 22.74
Performance Shares | MegaGrant
Nonvested stock option activity, Nonvested options
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number, Beginning Balance			826,926
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted	70,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period	0
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Expirations	(28,000)
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number	868,926		868,926
Nonvested stock option activity, Weighted average exercise price
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Weighted Average Grant Date Fair Value			$ 20.13
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted, Weighted Average Grant Date Fair Value	$ 54
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value	0
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Expirations, Weighted Average Grant Date Fair Value	20.54
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Weighted Average Grant Date Fair Value	$ 21.71		$ 21.71
Share-based Payment Arrangement, Option [Member]
Nonvested stock option activity, Weighted average exercise price
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	259,064		259,064
Weighted average exercise price (in dollars per share)	$ 9.46		$ 9.46
Share-based Payment Arrangement, Option [Member] | Exercise Price, Range One [Member]
Nonvested stock option activity, Weighted average exercise price
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	204,500		204,500
Weighted average exercise price (in dollars per share)	$ 8.80		$ 8.80
Share-based Payment Arrangement, Option, Exercise Price Range, Exercisable, Weighted Average Remaining Contractual Term			9 months 18 days
Share-based Payment Arrangement, Option [Member] | Exercise Price, Range Two [Member]
Nonvested stock option activity, Weighted average exercise price
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	54,564		54,564
Weighted average exercise price (in dollars per share)	$ 11.97		$ 11.97
Share-based Payment Arrangement, Option, Exercise Price Range, Outstanding, Weighted Average Remaining Contractual Term			1 year 2 months 12 days

Stock Compensation Plans (Det_2

Stock Compensation Plans (Details 2) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended	9 Months Ended
	Sep. 24, 2022	Sep. 24, 2022	Sep. 25, 2021
stock awards expense [Member] | Accounts Payable and Accrued Liabilities
Stock options outstanding and exercisable
Share-based Payment Arrangement, Expense	$ 5.4
Share-based Payment Arrangement, Option [Member]
Stock options outstanding and exercisable
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	259,064	259,064
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period		(72,969)
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period		0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price	$ 9.46	$ 9.46
Outstanding at the beginning of the period (in shares)	0	0
Share-based Payment Arrangement, Option [Member] | Exercise Price, Range One [Member]
Stock options outstanding and exercisable
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	204,500	204,500
Share-based Payment Arrangement, Option [Member] | Exercise Price, Range two
Stock options outstanding and exercisable
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	54,564	54,564
Restricted Stock Units
Stock options outstanding and exercisable
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount	$ 6.2	$ 6.2
Restricted Stock Units | Accounts Payable and Accrued Liabilities
Stock options outstanding and exercisable
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount	7.1	7.1
Performance Shares
Stock options outstanding and exercisable
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount	5.4	5.4
MegaGrant
Stock options outstanding and exercisable
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount	$ 11.7	$ 11.7
Stock Option Plan
Stock options outstanding and exercisable
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	259,064	259,064	355,221
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	0

Restricted Stock Units (Details

Restricted Stock Units (Details 3) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended	9 Months Ended
	Sep. 24, 2022	Sep. 24, 2022	Dec. 25, 2021
Restricted Stock Units
Restricted Cash and Cash Equivalents Items [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted		118,359
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number	320,248	320,248	269,708
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted, Weighted Average Grant Date Fair Value		$ 42.15
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period		67,819
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value		$ 39.26
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Expirations		0
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Expirations, Weighted Average Grant Date Fair Value		$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Weighted Average Grant Date Fair Value	$ 33.23	$ 33.23	$ 27.92
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount	$ 6.2	$ 6.2
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted, Weighted Average Grant Date Fair Value		$ 42.15
Performance Shares
Restricted Cash and Cash Equivalents Items [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted		102,930
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number	809,190	809,190	706,260
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted, Weighted Average Grant Date Fair Value		$ 42.25
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period		0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value		$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Expirations		0
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Expirations, Weighted Average Grant Date Fair Value		$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Weighted Average Grant Date Fair Value	$ 22.74	$ 22.74	$ 19.90
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount	$ 5.4	$ 5.4
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted, Weighted Average Grant Date Fair Value		$ 42.25
Performance Shares | MegaGrant
Restricted Cash and Cash Equivalents Items [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted	70,000
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number	868,926	868,926	826,926
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted, Weighted Average Grant Date Fair Value	$ 54
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period	0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value	$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Expirations	28,000
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Expirations, Weighted Average Grant Date Fair Value	$ 20.54
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Weighted Average Grant Date Fair Value	21.71	$ 21.71	$ 20.13
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted, Weighted Average Grant Date Fair Value	$ 54

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Millions		6 Months Ended
	Jul. 10, 2019	Jun. 27, 2020	Sep. 24, 2022
Related Party Transaction [Line Items]
Tax Receivable Agreement, Payment to Non-controlling Holders	40%
Tax Receivable Agreement, Payment to Non-controlling Holders			$ 17.3
Vintage RTO, L.P. ownership [Member]
Related Party Transaction [Line Items]
aggregate voting power			23%
Payment to Noncontrolling Holders [Member]
Related Party Transaction [Line Items]
Tax Receivable Agreement, Payment to Non-controlling Holders		40%

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 24, 2022	Sep. 25, 2021
Other Commitments [Line Items]
Commitments and Contingencies	Commitments and Contingencies In the ordinary course of operations, the Company may become a party to legal proceedings. Based upon information currently available, management believes that such legal proceedings, individually or in the aggregate, will not have a material adverse effect on the Company's business, financial condition, cash flows, or results of operations. The Company is party to claims and lawsuits that are considered to be ordinary, routine litigation incidental to the business, including claims and lawsuits concerning the fees charged to customers for various products and services, relationships with franchisees, intellectual property disputes, employment matters, and contract disputes. Although the Company cannot provide assurance that it will ultimately prevail in each instance, it believes the amount, if any, it will be required to pay in the discharge of liabilities or settlements in these claims will not have a material adverse impact on its consolidated results of operations, financial position, or cash flows. Guarantees The Company remains secondarily liable under various real estate leases that were assigned to franchisees who acquired Pet Supplies Plus stores from the Company. In the event of the failure of an acquirer to pay lease payments, the Company could be obligated to pay the remaining lease payments which extend through 2033 and in aggregate are $22.0 million and $22.9 million as of September 24, 2022 and December 25, 2021, respectively. The Company also remains secondarily liable under loan agreements entered into by certain franchisees who acquired Vitamin Shoppe, American Freight, or Buddy's stores from the Company. In the event of the failure of these franchisees to make the loan payments, the Company could be obligated to pay the default amounts. No amounts were outstanding under these agreements, and, therefore, the Company has no potential guarantee liability as of September 24, 2022. If the Company is required to make payments under any of these guarantees, the Company could seek to recover those amounts from the franchisees or in some cases their affiliates. The Company believes that payment under any of these guarantees is remote as of September 24, 2022.
Net Amount at Risk by Product and Guarantee, Net Amount at Risk	$ 22	$ 22.9

Segments (Details)

Segments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 24, 2022	Sep. 25, 2021	Sep. 24, 2022	Sep. 25, 2021	Dec. 25, 2021
Segment Reporting Information [Line Items]
Operating Income (Loss)	$ (26,007)	$ 54,763	$ 181,464	$ 165,895
Goodwill	738,083		738,083		$ 806,536
Assets	3,666,286		3,666,286		3,913,171
Revenues	1,051,476		3,281,943
Vitamin Shoppe [Member]
Segment Reporting Information [Line Items]
Operating Income (Loss)	25,465	27,792	91,836	90,830
Goodwill	1,277		1,277		1,277
Assets	614,332		614,332		596,964
Revenues	296,152	300,813	914,003	898,108
American Freight [Member]
Segment Reporting Information [Line Items]
Operating Income (Loss)	(77,903)	9,574	(61,661)	56,659
Goodwill	300,829		300,829		370,829
Assets	924,790		924,790		959,282
Revenues	199,316	223,591	667,157	750,914
Pet Supplies Plus
Segment Reporting Information [Line Items]
Operating Income (Loss)	19,466	18,647	55,142	25,056
Goodwill	337,472		337,472		335,875
Assets	979,316		979,316		957,849
Revenues	323,026	286,643	926,973	613,712
Buddy's [Member]
Segment Reporting Information [Line Items]
Operating Income (Loss)	1,796	5,991	9,423	13,630
Goodwill	79,099		79,099		79,099
Assets	138,364		138,364		146,033
Revenues	13,160	17,779	42,875	50,195
Overhead [Member]
Segment Reporting Information [Line Items]
Operating Income (Loss)	(7,170)	(7,241)	(29,329)	(20,280)
Badcock
Segment Reporting Information [Line Items]
Operating Income (Loss)	11,445	0	112,578	0
Assets	846,755		846,755		1,062,310
Revenues	210,278		699,835
Sylvan Learning
Segment Reporting Information [Line Items]
Operating Income (Loss)	894	0	3,475	0
Goodwill	19,406		19,406		19,456
Assets	100,172		100,172		103,850
Consolidated
Segment Reporting Information [Line Items]
Revenues		828,826		2,312,929
Operating Segments [Member]
Segment Reporting Information [Line Items]
Operating Income (Loss)	(18,837)	$ 62,004	210,793	$ 186,175
Assets	3,603,729		3,603,729		3,826,288
Corporate, Non-Segment [Member]
Segment Reporting Information [Line Items]
Assets	$ 62,557		$ 62,557		$ 86,883

Uncategorized Items - frg-20220

Label	Element	Value
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents	us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	$ 151,502,000
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents	us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	$ 292,714,000