Biglari Inactive 10-K9 Dec 132013 FY Annual reportFinancial data

Company Profile

Document_and_Entity_Informatio

Document and Entity Information (USD $)	12 Months Ended
Document and Entity Information (USD $)	Sep. 25, 2013	Dec. 03, 2013	Apr. 10, 2013
Document And Entity Information	'	'	'
Entity Registrant Name	'BIGLARI HOLDINGS INC.	'	'
Entity Central Index Key	'0000093859	'	'
Document Type	'10-K	'	'
Document Period End Date	25-Sep-13	'	'
Amendment Flag	'false	'	'
Current Fiscal Year End Date	'--09-25	'	'
Is Entity a Well-known Seasoned Issuer?	'No	'	'
Is Entity a Voluntary Filer?	'No	'	'
Is Entity's Reporting Status Current?	'Yes	'	'
Entity Filer Category	'Accelerated Filer	'	'
Entity Public Float	'	'	$464,091,032
Entity Common Stock, Shares Outstanding	'	1,720,834	'
Document Fiscal Period Focus	'FY	'	'
Document Fiscal Year Focus	'2013	'	'

CONSOLIDATED_STATEMENTS_OF_EAR

CONSOLIDATED STATEMENTS OF EARNINGS (USD $)	12 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 25, 2013	Sep. 26, 2012	Sep. 28, 2011
Costs and expenses	'	'	'
Impairment of intangible asset	$1,244	$0	$0
Earnings attributable to redeemable noncontrolling interest:	'	'	'
Net earnings attributable to Biglari Holdings Inc.	140,271	21,593	34,565
Consolidated	'	'	'
Restaurant Operations:	'	'	'
Net sales	736,968	721,754	694,378
Franchise royalties and fees	11,741	9,631	8,600
Other revenue	3,210	2,520	2,425
Total	751,919	733,905	705,403
Investment Management Operations:	'	'	'
Management fee income	0	0	224
Consolidated Affiliated Partnerships:	'	'	'
Investment gains	3,597	5,942	3,135
Other income	306	360	438
Total	3,903	6,302	3,797
Total net revenues	755,822	740,207	709,200
Costs and expenses	'	'	'
Cost of sales	218,199	207,234	192,645
Restaurant operating costs	348,654	337,905	331,262
General and administrative	76,799	64,286	48,404
Depreciation and amortization	25,250	26,424	28,361
Marketing	44,375	42,531	38,476
Rent	18,453	17,638	16,891
Pre-opening costs	199	430	89
Provision for restaurant closings	1,738	901	1,032
Impairment of intangible asset	1,244	0	0
Loss on disposal of assets	1,111	611	702
Other operating (income) expense	-934	-934	-1,157
Total costs and expenses, net	735,088	697,026	656,705
Other income (expenses)	'	'	'
Interest, dividend and other investment income	8,265	4,000	742
Interest on obligations under leases	-9,829	-10,073	-10,565
Interest expense	-6,551	-8,155	-2,811
Loss on debt extinguishment	0	-1,955	0
Gain on sale of Biglari Capital Corp	1,597	0	0
Gain on contributions to investment partnerships	182,746	0	0
Realized investment gains	1	4,200	7,360
Other than temporary impairment	-570	0	0
Derivative and short sale gains	0	0	610
Total other income (expense)	175,659	-11,983	-4,664
Earnings before income taxes	196,393	31,198	47,831
Income tax from operating earnings	67,517	6,453	13,867
Income tax on gains from investment partnerships	6,772	0	0
Total Income Taxes	74,289	6,453	13,867
Gains from investment partnerships	20,068	0	0
Consolidated net earnings	142,172	24,745	33,964
Earnings attributable to redeemable noncontrolling interest:	'	'	'
Income allocation	-1,922	-3,188	-1,909
Incentive fee	21	36	2,510
Total earnings/loss attributable to redeemable noncontrolling interests	-1,901	-3,152	601
Net earnings attributable to Biglari Holdings Inc.	$140,271	$21,593	$34,565
Earnings per share attributable to Biglari Holdings Inc.	'	'	'
Basic earnings per common share	$98.11	$15.02	$24.13
Diluted earnings per common share	$97.90	$14.99	$24
Weighted average shares and equivalents	'	'	'
Basic	1,429,684	1,437,321	1,432,728
Diluted	1,432,737	1,440,834	1,440,215

CONSOLIDATED_STATEMENTS_OF_COM

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Sep. 25, 2013	Sep. 26, 2012	Sep. 28, 2011
Net earnings attributable to Biglari Holdings Inc.	$140,271	$21,593	$34,565
Other comprehensive (loss) income:	'	'	'
Other comprehensive (loss) income, net	-22,440	49,365	-4,316
Consolidated	'	'	'
Net earnings attributable to Biglari Holdings Inc.	140,271	21,593	34,565
Other comprehensive (loss) income:	'	'	'
Reclassification of investment appreciation in net earnings	-1	-1,455	2,213
Applicable income taxes	0	553	-861
Reclassification of investment appreciation in net earnings on contribution to investment partnerships	-182,746	0	0
Applicable income taxes	67,815	0	0
Reclassification of other than temporary impairment losses on investments	461	0	0
Applicable income taxes	-175	0	0
Net change in unrealized gains (losses) on investments	146,079	81,075	-9,144
Applicable income taxes	-53,881	-30,808	3,476
Foreign currency translation gains	8	0	0
Other comprehensive (loss) income, net	-22,440	49,365	-4,316
Total comprehensive income	$117,831	$70,958	$30,249

CONSOLIDATED_BALANCE_SHEETS

CONSOLIDATED BALANCE SHEETS (USD $)	Sep. 25, 2013	Sep. 26, 2012
In Thousands, unless otherwise specified	Sep. 25, 2013	Sep. 26, 2012
Current assets:	'	'
Other intangible assets, net	$7,721	$6,248
Total assets	988,543	773,787
Shareholders' equity	'	'
Biglari Holdings Inc. shareholders' equity	564,589	349,125
Consolidated	'	'
Current assets:	'	'
Cash and cash equivalents	94,626	60,359
Investments	85,479	269,858
Receivables, net of allowance of $804 and $744, respectively	7,055	7,001
Inventories	6,475	6,624
Assets held for sale	561	2,357
Other current assets	3,290	2,798
Total current assets	197,486	348,997
Property and equipment, net	346,147	356,638
Goodwill	28,251	27,529
Other intangible assets, net	7,721	6,248
Other assets	11,239	9,109
Investment partnerships	397,699	0
Investments held by consolidated affiliated partnerships	0	25,266
Total assets	988,543	773,787
Current liabilities:	'	'
Accounts payable	37,511	33,210
Accrued expenses	54,003	53,866
Deferred income taxes	5,511	19,367
Current portion of obligations under leases	6,239	5,713
Current portion of long-term debt	9,750	12,138
Total current liabilities	113,014	124,294
Deferred income taxes	84,525	8,675
Obligations under leases	106,247	110,353
Long-term debt	110,500	120,250
Other long-term liabilities	9,668	9,002
Total liabilities	423,954	372,574
Commitments and contingencies (Notes 15 and 19)	'	'
Redeemable noncontrolling interests of consolidated affiliated partnerships	0	52,088
Shareholders' equity	'	'
Common stock - $0.50 stated value, 2,500,000 shares authorized - 1,797,941 and 1,511,174 shares issued at September 25, 2013 and September 26, 2012, respectively,1,588,376 and 1,227,928 shares outstanding (net of treasury stock), respectively	899	756
Additional paid-in capital	269,810	143,035
Retained earnings	348,339	251,983
Accumulated other comprehensive income	21,457	43,897
Treasury stock - at cost: 209,565 and 283,246 shares at September 25, 2013 and September 26, 2012, respectively (includes 132,406 shares held by investment partnerships at September 25, 2013 and 205,743 shares held by consolidated affiliated partnerships at September 26, 2012)	-75,916	-90,546
Biglari Holdings Inc. shareholders' equity	564,589	349,125
Total liabilities and shareholders' equity	$988,543	$773,787

CONSOLIDATED_BALANCE_SHEETS_Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) (Consolidated, USD $)	Sep. 25, 2013	Sep. 26, 2012
In Thousands, except Share data, unless otherwise specified	Sep. 25, 2013	Sep. 26, 2012
Consolidated	'	'
Assets	'	'
Receivables, allowance for doubtful accounts	$804	$744
Shareholders' equity	'	'
Common stock, par value	$0.50	$0.50
Common stock, shares authorized	2,500,000	2,500,000
Common stock, shares issued	1,797,941	1,511,174
Common stock, shares outstanding	1,588,376	1,227,928
Treasury stock - at cost, shares	209,565	283,246
Partnership Member	'	'
Treasury stock - at cost, shares held by investment partnerships at September 25, 2013 and shares held by consolidated affiliated partnerships at September 26, 2012	132,406	205,743

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Sep. 25, 2013	Sep. 26, 2012	Sep. 28, 2011
Adjustments to reconcile net earnings to operating cash flows (excluding investment operations of consolidated affiliated partnerships):	'	'	'
Impairment of intangible asset	$1,244	$0	$0
Consolidated	'	'	'
Cash flows from operating activities	'	'	'
Net earnings	142,172	24,745	33,964
Adjustments to reconcile net earnings to operating cash flows (excluding investment operations of consolidated affiliated partnerships):	'	'	'
Depreciation and amortization	25,250	26,424	28,361
Provision for deferred income taxes	72,035	-2,727	-2,186
Asset impairments and provision for restaurant closings	1,738	901	1,032
Impairment of intangible asset	1,244	0	0
Stock-based compensation and other non-cash expenses	526	888	950
Loss on disposal of assets	1,111	611	702
Gain on sale of Biglari Capital Corp	-1,597	0	0
Gain on contributions to investment partnerships	-182,746	0	0
Gain on sale of subsidiary	0	0	-1,559
Loss on debt extinguishment	0	1,955	0
Realized investment gains/losses	-1	-4,200	-7,360
Other than temporary impairments on investments	570	0	0
Derivative and short sale gains/losses	0	0	-610
Gains from investment partnerships	-20,068	0	0
Changes in operating assets and liabilities	'	'	'
Changes in receivables and inventories	195	-3,659	2,066
Changes in other assets	-2,742	1,019	2,972
Changes in accounts payable and accrued expenses	3,764	10,491	12,918
Investment operations of consolidated affiliated partnerships:	'	'	'
Purchases of investments	0	-14,477	-53,727
Sales of investments	1,516	26,052	52,271
Realized investment gains, net	-261	-2,895	-3,365
Unrealized gains/losses on marketable securities held by consolidated affiliated partnerships	-3,336	-3,047	230
Changes in cash and cash equivalents held by consolidated affiliated partnerships	-578	-12,115	7,870
Changes in due to/from broker	0	0	222
Net cash (used in) provided by operating activities	38,792	49,966	74,751
Cash flows from investing activities	'	'	'
Additions of property and equipment	-14,167	-8,675	-13,018
Proceeds from property and equipment disposals	2,449	2,379	2,007
Purchase of business and lease rights	-3,770	0	0
Proceeds from sale of Biglari Capital Corp., net of cash on hand	1,699	0	0
Proceeds from sale of subsidiary, net of cash on hand	0	0	196
Purchases of investments and contributions to investment partnerships	-46,977	-108,825	-171,893
Sales of investments	1	38,108	90,058
Changes in due to/from broker	0	-7,272	3,147
Changes in restricted cash	0	-3,600	0
Net cash used in investing activities	-60,765	-87,885	-89,503
Cash flows from financing activities	'	'	'
Proceeds from revolving credit facility	17,000	0	194,045
Payments on revolving credit facility	-17,000	-15,000	-197,045
Borrowings on long-term debt	0	130,000	111,959
Principal payments on long-term debt	-12,138	-110,170	-17,333
Deferred financing charges	0	-1,961	-3,174
Principal payments on direct financing lease obligations	-5,904	-5,272	-7,469
Proceeds from stock rights offering	75,595	0	0
Proceeds from exercise of stock options and employees stock purchase plan	13	29	29
Excess tax benefits from stock-based awards	3	382	3
Repurchase of employee shares for tax withholding	0	-8	-541
Financing activities of consolidated affiliated partnerships:	'	'	'
Contributions from noncontrolling interests	1,076	1,545	1,780
Distributions to noncontrolling interests	-2,302	-254	-16,078
Net cash provided by (used in) financing activities	56,343	-709	66,176
Effect of exchange rate changes on cash	-103	0	0
Increase (decrease) in cash and cash equivalents	34,267	-38,628	51,424
Cash and cash equivalents at beginning of year	60,359	98,987	47,563
Cash and cash equivalents at end of year	$94,626	$60,359	$98,987

CONSOLIDATED_STATEMENTS_OF_CHA

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (USD $)	Common Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Treasury Stock	Total
In Thousands	Common Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Treasury Stock	Total
Beginning Balance at Sep. 29, 2010	$756	$143,521	$195,825	($1,152)	($89,955)	$248,995
Net earnings attributable to Biglari Holdings Inc.	'	'	34,565	'	'	34,565
Other comprehensive income (loss), net	'	'	'	-4,316	'	-4,316
Exercise of stock options and other stock compensation transactions	'	375	'	'	-614	-239
Adjustment to redeemable noncontrolling interest to reflect maximum redemption value	'	673	'	'	'	673
Ending Balance at Sep. 28, 2011	756	144,569	230,390	-5,468	-90,569	279,678
Net earnings attributable to Biglari Holdings Inc.	'	'	21,593	'	'	21,593
Other comprehensive income (loss), net	'	'	'	49,365	'	49,365
Exercise of stock options and other stock compensation transactions	'	859	'	'	23	882
Adjustment to redeemable noncontrolling interest to reflect maximum redemption value	'	-2,393	'	'	'	-2,393
Ending Balance at Sep. 26, 2012	756	143,035	251,983	43,897	-90,546	349,125
Net earnings attributable to Biglari Holdings Inc.	'	'	140,271	'	'	140,271
Other comprehensive income (loss), net	'	'	'	-22,440	'	-22,440
Deconsolidation of affiliated partnerships	'	12,224	'	'	25,640	37,864
Adjustment to Treasury stock for holdings in investment partnerships	'	'	'	'	-11,033	-11,033
Issuance of common stock for rights offering	143	119,367	-43,915	'	'	75,595
Exercise of stock options and other stock compensation transactions	'	-6	'	'	23	17
Adjustment to redeemable noncontrolling interest to reflect maximum redemption value	'	-4,810	'	'	'	-4,810
Ending Balance at Sep. 25, 2013	$899	$269,810	$348,339	$21,457	($75,916)	$564,589

Schedule_of_Balance_Sheets

Schedule of Balance Sheets (USD $)	Sep. 25, 2013	Sep. 26, 2012
In Thousands, unless otherwise specified	Sep. 25, 2013	Sep. 26, 2012
Assets	'	'
Total assets	$988,543	$773,787
Liabilities and shareholders' equity	'	'
Shareholders' equity	564,589	349,125
Parent Company	'	'
Assets	'	'
Cash and cash equivalents	72,279	25,931
Investments	6,122	248,494
Other	4,696	7,000
Investment partnerships	346,514	0
Investments in and advances to/from subsidiaries	218,186	105,197
Total assets	647,797	386,622
Liabilities and shareholders' equity	'	'
Accounts payable and accrued expenses	11,947	11,162
Deferred income taxes	13	25,873
Total current liabilities	11,960	37,035
Deferred income taxes	71,248	462
Total liabilities	83,208	37,497
Shareholders' equity	564,589	349,125
Total liabilities and shareholders' equity	$647,797	$386,622

Schedule_of_Income_Statement

Schedule of Income Statement (Parent Company, USD $)	12 Months Ended
In Thousands, unless otherwise specified	Sep. 25, 2013	Sep. 26, 2012	Sep. 28, 2011
Income	'	'	'
Distributed earnings from subsidiaries	$0	$0	$28,094
Undistributed earnings from subsidiaries	29,777	28,306	5,500
Total	29,777	28,306	33,594
Costs, expenses and other	'	'	'
General and administrative	19,685	18,374	4,768
Interest	2	14	1,589
Other income, net	-5,222	-3,412	-329
Gain on sale of Biglari Capital Corp	-1,597	0	0
Gain on contributions to investment partnerships	-162,869	0	0
Other than temporary impairment	570	0	0
Investment income	-1	-4,152	-7,970
Total costs and expenses, net	-149,432	10,824	-1,942
Income taxes	59,006	-4,111	971
Gains from investment partnerships	20,068	0	0
Net earnings	$140,271	$21,593	$34,565

Schedule_of_Cash_Flows

Schedule of Cash Flows (Parent Company, USD $)	12 Months Ended
In Thousands, unless otherwise specified	Sep. 25, 2013	Sep. 26, 2012	Sep. 28, 2011
Parent Company	'	'	'
Operating activities	'	'	'
Net earnings	$140,271	$21,593	$34,565
Adjustments to reconcile net earnings to net cash:	'	'	'
Excess distributed earnings of subsidiaries	0	0	128,749
Undistributed earnings of subsidiaries	-29,777	-28,306	-5,500
Provision for deferred income taxes	87,502	-3,570	0
Gain on sale of Biglari Capital Corp	-1,597	0	0
Gain on contributions to investment partnerships	-162,869	0	0
Realized investment gains/losses	-1	-4,152	-7,360
Other than temporary impairment	570	0	0
Derivative and short sale gains/losses	0	0	-610
Gains from investment partnerships	-20,068	0	0
Changes in accounts payable and accrued expenses	785	7,346	239
Other	2,304	-3,483	-198
Net cash (used in) provided by operating activities	17,120	-10,572	149,885
Investing activities	'	'	'
Investments in and advances to/ from subsidiaries, net	0	7,239	2,611
Additions of property and equipment	-1,106	-624	-661
Proceeds from sale of Biglari Capital Corp., net of cash on hand	1,699	0	0
Purchases of investments	-46,977	-101,004	-171,893
Sales of investments	1	49,536	90,058
Changes in due to/from broker	0	-7,051	3,148
Net cash used in investing activities	-46,383	-51,904	-76,737
Financing activities	'	'	'
Principal payments on long-term debt	0	0	-22,765
Proceeds from stock rights offering	75,595	0	0
Proceeds from exercise of stock options and employees stock purchase plan	13	29	29
Excess tax benefits from stock-based awards	3	382	3
Repurchase of employee shares for tax withholding	0	-8	-541
Net cash provided by (used in) financing activities	75,611	403	-23,274
(Decrease) increase in cash and cash equivalents	46,348	-62,073	49,874
Cash and cash equivalents at beginning of year	25,931	88,004	38,130
Cash and cash equivalents at end of year	$72,279	$25,931	$88,004

Schedule_of_Other_Comprehensiv

Schedule of Other Comprehensive Income (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Sep. 25, 2013	Sep. 26, 2012	Sep. 28, 2011
Net earnings attributable to Biglari Holdings Inc.	$140,271	$21,593	$34,565
Other comprehensive (loss) income:	'	'	'
Other comprehensive (loss) income, net	-22,440	49,365	-4,316
Parent Company	'	'	'
Net earnings attributable to Biglari Holdings Inc.	140,271	21,593	34,565
Other comprehensive (loss) income:	'	'	'
Reclassification of investment appreciation in net earnings	-1	-1,455	2,213
Applicable income taxes	0	553	-861
Reclassification of investment appreciation in net earnings on contribution to investment partnerships	-162,869	0	0
Applicable income taxes	60,262	0	0
Reclassification of other than temporary impairment losses on investments	461	0	0
Applicable income taxes	-175	0	0
Net change in unrealized gains (losses) on investments	96,915	78,295	-8,594
Applicable income taxes	-36,828	-29,752	3,266
Other comprehensive (loss) income, net	-42,235	47,641	-3,976
Total comprehensive income	$98,036	$69,234	$30,589

Note_1_Summary_of_Significant_

Note 1. Summary of Significant Accounting Policies	12 Months Ended
	Sep. 25, 2013
Accounting Policies [Abstract]	'
Note 1. Summary of Significant Accounting Policies	'
	Description of Business
	Biglari Holdings Inc. (“Biglari Holdings” or the “Company”) is a diversified holding company engaged in a number of business activities. The Company’s most important operating subsidiaries are involved in the franchising and operating of restaurants. The Company is led by Sardar Biglari, Chairman and Chief Executive Officer of Biglari Holdings and its major operating subsidiaries. The Company’s long-term objective is to maximize per-share intrinsic value of the Company. All major operating, investment, and capital allocation decisions are made for the Company and its subsidiaries by Sardar Biglari, Chairman and Chief Executive Officer.

	Fiscal Year
	Our fiscal year ends on the last Wednesday in September. Fiscal years 2013, 2012, and 2011 each contain 52 weeks.

	Principles of Consolidation
	As of September 25, 2013, the consolidated financial statements include the accounts of (i) the Company, (ii) its wholly-owned subsidiaries Steak n Shake Operations, Inc. (“Steak n Shake”) and Western Sizzlin Corporation (“Western”). In addition to consolidating wholly-owned entities we consolidate entities if we have a controlling interest in the general partner.

	As a result of acquisitions in 2010 the Company obtained controlling interests in The Lion Fund, L.P. (the “Lion Fund”), Western Acquisitions, L.P., Mustang Capital Partners I, L.P. and Mustang Capital Partners II, L.P. which were collectively referred to as “consolidated affiliated partnerships”. Prior to the third quarter of fiscal year 2013 the Company consolidated its affiliated partnerships in its consolidated financial statements, which included the accounts of (i) the Company, (ii) its wholly-owned subsidiaries Biglari Capital Corp. (“Biglari Capital”), Steak n Shake, and Western, and (iii) the Lion Fund and Western Acquisitions, L.P. The consolidated affiliated partnerships’ assets and liabilities were consolidated on the Consolidated Balance Sheet even though outside limited partners had majority ownership in all of the partnerships. The Company did not guarantee any of the liabilities of its subsidiaries that served as general partners to these consolidated affiliated partnerships. All intercompany accounts and transactions have been eliminated in consolidation.

	During the third quarter of fiscal year 2013 the Company liquidated the partners’ interest in Western Acquisitions, L.P. by distributing assets of the partnership to the partners and Biglari Holdings sold all of the outstanding shares of Biglari Capital to Mr. Biglari. Biglari Capital is the general partner of the Lion Fund and the newly-formed The Lion Fund II, L.P. (the “Lion Fund II”). Lion Fund and Lion Fund II (collectively “investment partnerships”) are limited partnerships that operate as private investment funds. As a result of the sale of Biglari Capital and the related winding up of Western Acquisitions, L.P., the Company has ceased to have a controlling interest in the consolidated affiliated partnerships, which are, accordingly, no longer consolidated in the Company’s financial statements.

	During the first quarter of fiscal year 2011, Mustang Capital Partners I, L.P. and Mustang Capital Partners II, L.P. were liquidated and the funds distributed to the partners. During the third quarter of fiscal year 2011, Western Mustang Holdings, L.L.C. sold its interests in Mustang Capital Management, L.L.C. and Mustang Capital Advisors, L.P.

	Beginning July 1, 2013, the consolidated financial statements only include the accounts of (i) the Company and (ii) its wholly-owned subsidiaries Steak n Shake and Western.

	During fiscal year 2013, the Company contributed cash and securities owned by it in exchange for limited partner interest in the investment partnerships. Prior to the sale of Biglari Capital, the securities contributed to the investment partnerships were accounted for as available for sale securities with unrealized gains and losses recorded as a component of Accumulated Other Comprehensive Income in the Consolidated Balance Sheet. Our interests in the investment partnerships are accounted for as equity method investments due to our retained limited partner interest. Prospectively from the sale of Biglari Capital, the Company records earnings from investment partnerships in the Consolidated Statement of Earnings based on our proportional ownership interest in the investment partnerships’ total earnings.
	Western’s and the investment partnerships’ September 30 period end for financial reporting purposes differs from the end of the Company’s fiscal year. There were no significant transactions in the intervening period.

	Cash and Cash Equivalents
	Cash equivalents primarily consist of U.S. Government securities and money market accounts, all of which have original maturities of three months or less. Cash equivalents are carried at fair value. Our policy is to reinvest cash equivalents to acquire businesses or to purchase securities. Cash held by the consolidated affiliated partnerships is included in Investments held by consolidated affiliated partnerships on our Consolidated Balance Sheet.

	Investments
	Our investments consist of available-for-sale securities and are carried at fair value with net unrealized gains or losses reported as a component of Accumulated other comprehensive income in Shareholders’ equity. Realized gains and losses on disposals of investments are determined by specific identification of cost of investments sold and are included in Realized investment gains/losses, a component of Other income.

	Investment Partnerships
	Our interests in the investment partnerships are accounted as equity method investments because of our retained limited partner interests. The Company records Gains from investment partnerships (inclusive of the investment partnerships’ unrealized gains and losses on their securities) in the Consolidated Statements of Earnings based on our proportional ownership interest in the partnerships.

	Investments Held by Investment Partnerships and Consolidated Affiliated Partnerships
	The investment partnerships and consolidated affiliated partnerships are, for purposes of accounting principles generally accepted in the United States (“GAAP”), investment companies under the AICPA Audit and Accounting Guide Investment Companies. The Company has retained the specialized accounting for these entities, pursuant to Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 946-810-45 (formerly EITF Issue No. 85-12, Retention of Specialized Accounting for Investments in Consolidation).

	Marketable equity securities held by the consolidated affiliated partnerships are recorded at fair value with net unrealized and realized investment gains/losses included in Investment gains/losses of consolidated affiliated partnerships, a component of Net revenues on the Consolidated Statement of Earnings.

	Concentration of Equity Price Risk
	The majority of our investments are conducted through investment partnerships which generally hold common stocks. We also hold marketable securities directly. Through direct and indirect holding (investments held by the investment partnerships) we hold a concentrated position in the common stock of Cracker Barrel Old Country Store, Inc. A significant decline in the general stock market or in the prices of major investments may produce a large net loss and decrease in our Consolidated Shareholders’ Equity. Decreases in values of equity investments can have a materially adverse effect on our earnings and on Consolidated Shareholders’ Equity.

	Receivables
	Our accounts receivable balance consists primarily of franchisee, tax, and other receivables. We carry our accounts receivable at cost less an allowance for doubtful accounts which is based on a history of past write-offs and collections and current credit conditions.

	Inventories
	Inventories are valued at the lower of cost (first-in, first-out method) or market, and consist primarily of restaurant food items and supply inventory.

	Assets Held for Sale
	Assets held for sale consists of property and equipment related to restaurants and land that is currently being marketed for disposal. Assets held for sale are reported at the lower of carrying value or estimated fair value less costs to sell. The Company expects to sell these properties within one year of their classification as assets held for sale.

	Property and Equipment
	Property and equipment are stated at cost less accumulated depreciation and amortization. Depreciation and amortization are recognized on the straight-line method over the estimated useful lives of the assets (10 to 25 years for buildings and land improvements, and 3 to 10 years for equipment). Leasehold improvements are amortized on the straight-line method over the shorter of the estimated useful lives of the improvements or the term of the related leases. Interest costs associated with the construction of new restaurants are capitalized. Major improvements are also capitalized while repairs and maintenance are expensed as incurred. We review our long-lived assets whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. For purposes of this assessment, assets are evaluated at the lowest level for which there are identifiable cash flows. If the future undiscounted cash flows of an asset are less than the recorded value, an impairment is recorded for the difference between the carrying value and the estimated fair value of the asset. Refer to Note 3 for information regarding asset impairments.

	Goodwill and Intangible Assets
	Goodwill and indefinite life intangibles are not amortized, but are tested for potential impairment on an annual basis, or more often if events or circumstances change that could cause goodwill or indefinite life intangibles to become impaired. Other purchased intangible assets are amortized over their estimated useful lives, generally on a straight-line basis. We perform reviews for impairment of intangible assets whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. An impairment loss is recognized when estimated future cash flows expected to result from the use of the asset and its eventual disposition are less than its carrying value. When an impairment is identified, we reduce the carrying value of the asset to its estimated fair value. No impairments were recorded on goodwill during fiscal years 2013, 2012, or 2011. During fiscal year 2013, the Company recorded an impairment representing the trade name of Western’s company-operated stores. Refer to Note 10 for information regarding our goodwill and other intangible assets.

	Capitalized Software
	Internal-use software is stated at cost less accumulated amortization and is amortized using the straight-line method over its estimated useful life ranging from three to seven years. Software assets are reviewed for impairment when events or circumstances indicate that the carrying value may not be recoverable over the remaining lives of the assets. During the software application development stage, capitalized costs include external consulting costs, cost of software licenses, and internal payroll and payroll-related costs for employees who are directly associated with a software project. Upgrades and enhancements are capitalized if they result in added functionality which enables the software to perform tasks it was previously incapable of performing. Software maintenance, training, data conversion, and business process reengineering costs are expensed in the period in which they are incurred. Capitalized software is included in the balance of Other assets in the Consolidated Balance Sheet.

	Operating Leases
	The Company leases certain property under operating leases. Many of these lease agreements contain rent holidays, rent escalation clauses and/or contingent rent provisions. Rent expense is recognized on a straight-line basis over the expected lease term, including cancelable option periods when failure to exercise such options would result in an economic penalty. In addition, the rent commencement date of the lease term is the earlier of the date when we become legally obligated for the rent payments or the date when we take access to the property or the grounds for build out.

	Revenue Recognition
	Net Sales
	We record revenue from restaurant sales at the time of sale, net of discounts. Revenue from the sale of gift cards is deferred at the time of sale and recognized upon redemption by the customer or at expiration of the gift cards. Sales revenues are presented net of sales taxes. Cost of sales primarily includes the cost of food and disposable paper and plastic goods used in preparing and selling our menu items and excludes depreciation and amortization, which is presented as a separate line item on the Consolidated Statement of Earnings.

	Franchise Royalties and Fees
Unit franchise fees and area development fees are recorded as revenue when the related restaurant begins operations. Royalty fees and administrative services fees are based on franchise sales and are recognized as revenue as earned.

Other Revenue
Other revenue relates primarily to rental income.

Investment Gains from Consolidated Affiliated Partnerships
Investment gains from consolidated affiliated partnerships include realized and unrealized gains/losses on investments held by consolidated affiliated partnerships. Realized gains/losses from the disposal of investments held by consolidated affiliated partnerships are determined by specific identification of cost of investments sold.

Insurance Reserves
We self-insure a significant portion of expected losses under our workers’ compensation, general liability, auto, directors’ and officers’ and medical liability insurance programs, and record a reserve for our estimated losses on all unresolved open claims and our estimated incurred but not reported claims at the anticipated cost to us. Insurance reserves are recorded in the balance of Accrued expenses in the Consolidated Balance Sheet.

Earnings Per Share
Earnings per share of common stock is based on the weighted average number of shares outstanding during the year. In fiscal year 2013, Biglari Holdings completed an offering of transferable subscription rights, distributing one transferable subscription right (“Rights”) for each share of its common stock to shareholders of record on August 27, 2013. Every five Rights entitled a shareholder to subscribe for one share of common stock at a price of $265.00. Shareholders on the record date who fully exercised the Rights distributed to them were also entitled to subscribe for and purchase additional shares of common stock not purchased by other Rights holders through their basic subscription privileges. The offering was oversubscribed and 286,767 new shares of common stock were issued. The Company received net proceeds of $75,595 million from the offering. Including the issuance of the newly subscribed shares the Company had 1,720,782 shares outstanding as of September 25, 2013. Earnings per share have been retroactively restated for every year to account for the 2013 rights offering. For fiscal year 2013 financial reporting purposes, the shares of Company stock attributable to our limited partner interest in the Lion Fund — based on our proportional ownership during the period — are considered Treasury stock on the Consolidated Balance Sheet. For fiscal year 2012 financial reporting purposes all common shares of the Company held by the consolidated affiliated partnerships are recorded in Treasury stock on the Consolidated Balance Sheet.

For purposes of computing the weighted average common shares outstanding the shares of treasury stock attributable to the unrelated limited partners of the consolidated affiliated partnerships — based on their proportional ownership during the period — are considered outstanding shares.

The following table presents a reconciliation of basic and diluted weighted average common shares:

		2013	2012	2011
Basic earnings per share:
Weighted average common shares		1,429,684	1,436,321	1,432,728
Diluted earnings per share:
Weighted average common shares		1,429,684	1,437,321	1,432,728
Dilutive effect of stock awards		3,053	3,513	7,487
Weighted average common and incremental shares		1,432,737	1,440,834	1,440,215
Number of share-based awards excluded from the calculation of earnings per share as the awards’ exercise prices were greater than the average market price of the Company’s common stock.		705	705
				705

Stock-Based Compensation

We account for all stock-based compensation, including grants of employee stock options, nonvested stock and shares issued under our employee stock purchase plan, using the fair value based method. Refer to Note 18 for additional information regarding our stock-based compensation.

The Steak n Shake 401(k) Savings Plan
The Steak n Shake 401(k) Savings Plan (the “401(k) Plan”) is a defined contribution plan covering substantially all employees after they have attained age 21 and completed six months of service and allows employees to defer up to 20% of their salaries and allows for discretionary matching contributions. Discretionary matching contributions of $207, $213 and $271 were made in fiscal years 2013, 2012 and 2011, respectively.


Marketing Expense
Advertising costs are charged to expense at the later of the date the expenditure is incurred or the date the promotional item is first communicated.

Non-Qualified Deferred Compensation Plan
We maintain The Steak n Shake Non-Qualified Savings Plan, a self-directed non-qualified deferred compensation plan (the “Non-Qualified Plan”) for executive employees. The Non-Qualified Plan allows highly compensated employees to defer amounts from their salaries for retirement savings and includes a discretionary employer match generally equal to the amount of the match the employee would have received as a participant in our 401(k) Plan. The Non-Qualified Plan is structured as a rabbi trust; therefore, assets in the Non-Qualified Plan are subject to creditor claims in the event of bankruptcy. We recognize investment assets in Other assets on the Consolidated Balance Sheet at current fair value. A liability of the same amount is recorded in Other long-term liabilities on the Consolidated Balance Sheet representing our obligation to distribute funds to participants. The investment assets are classified as trading, and accordingly, realized and unrealized gains and losses are recognized in income.

Use of Estimates
Preparation of the consolidated financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from the estimates.

New Accounting Standards
In February 2013, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) 2013-04, Liabilities (Topic 405), which provides guidance for the recognition, measurement, and disclosure of obligations resulting from joint and several liability arrangements. The guidance requires an entity to measure those obligations as the sum of the amount the reporting entity agreed to pay on the basis of its arrangement among its co-obligors and any additional amount the reporting entity expects to pay on behalf of its co-obligors. The guidance also requires an entity to disclose the nature and amount of the obligation as well as other information about those obligations. ASU 2013-04 is effective for fiscal years beginning after December 15, 2013, which is effective for the Company’s first quarter of fiscal year 2015. We do not believe the adoption of ASU 2013-04 will have a material effect on the Company’s consolidated financial statements.

In February 2013, the FASB issued ASU 2013-02, Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income. ASU 2013-02 requires disclosure of the amounts reclassified out of each component of accumulated other comprehensive income and into net earnings during the reporting period and is effective for reporting periods beginning after December 15, 2012. We do not believe the adoption of ASU 2013−02 in the first quarter of fiscal year 2014 will have a material impact on the measurement of net earnings or other comprehensive income.

In December 2011, the FASB issued ASU 2011-11, Disclosures about Offsetting Assets and Liabilities and in January 2013, the FASB issued ASU 2013-01, Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities. ASU 2011-11, as c1arified, enhances disclosures surrounding offsetting (netting) assets and liabilities. The clarified standard applies to derivatives, repurchase agreements and securities lending transactions and requires companies to disclose gross and net information about financial instruments and derivatives eligible for offset and to disclose financial instruments and derivatives subject to master netting arrangements in financial statements. The clarified standard did not have a material effect on our financial position or results of operations.

In October 2012, the FASB issued ASU 2012-04, Technical Corrections and Improvements, which makes certain technical corrections (i.e., relatively minor corrections and clarifications) and “conforming fair value amendments” to the FASB Accounting Standards Codification (the “Codification”). The corrections and improvements include technical corrections based on feedback on the Codification and conforming amendments primarily related to fair value in areas outside of ASC 820. The amendments affect various Codification topics and apply to all reporting entities within the scope of those topics and became effective for the Company on December 20, 2012. We do not expect the adoption of ASU 2012-04 to have a material effect on our financial position or results of operations.

In July 2012, the FASB issued ASU 2012−02, Intangibles—Goodwill and Other (Topic 350): Testing Indefinite-Lived Intangible Assets for Impairment. The revised standard is intended to reduce the cost and complexity of testing indefinite-lived intangible assets other than goodwill for impairment. It allows companies to perform a “qualitative” assessment to determine whetherfurther impairment testing of indefinite-lived intangible assets is necessary, similar in approach to the goodwill impairment test. The amendments are effective for annual and interim impairment tests performed for fiscal years beginning after September 15, 2012. Early adoption is permitted. We do not expect the provisions of ASU 2012-02 to have a material effect on our financial position or results of operations.

In December 2011, the FASB issued ASU 2011−12, Comprehensive Income. The amendments in ASU 2011-12 supersede certain pending paragraphs in ASU 2011−05, Presentation of Comprehensive Income to effectively defer only those changes in ASU 2011−05 that relate to the presentation of reclassification adjustments out of accumulated other comprehensive income. The requirement to report comprehensive income either in a single continuous financial statement or in two separate but consecutive financial statements became effective in the first quarter of fiscal 2013. The adoption of ASU 2011−12 did not impact the measurement of net earnings or other comprehensive income.

Note_2_Divestitures

Note 2. Divestitures	12 Months Ended
Note 2. Divestitures	Sep. 25, 2013
Business Combinations [Abstract]	'
Note 2. Divestitures	'

	On July 1, 2013, Biglari Holdings sold all of the outstanding shares of Biglari Capital to Mr. Biglari for $1,700. The Company recorded a gain on the sale of $1,597. Biglari Capital is the general partner of the investment partnerships. During fiscal year 2013, the Company contributed cash and securities owned by it with an aggregate value of $377,636 in exchange for limited partner interests in the investment partnerships.

	On July 3, 2013 the Company liquidated the partners’ interests in Western Acquisitions, L.P. by distributing assets of the partnership to the partners.

	During the first quarter of fiscal year 2011, Mustang Capital Partners I, L.P. and Mustang Capital Partners II, L.P. were liquidated and the funds distributed to the partners. During the third quarter of fiscal year 2011, Western Mustang Holdings, L.L.C. sold its interests in Mustang Capital Management, L.L.C. and Mustang Capital Advisors, L.P. As a result of the sale, we recorded a gain of $1,559, of which $1,259 was non-cash in Other operating income in the Consolidated Statement of Earnings.

	As a result of the sale, the Company ceased to have involvement in the operations of Mustang Capital Management, L.L.C. and Mustang Capital Advisors, L.P. Although these entities meet the definition of “discontinued operations,” as defined in FASB ASC paragraph 205-20-45-1, Reporting Discontinued Operations (“ASC paragraph 205-20-45-1”), we have not separated the results of operations because the amounts are immaterial to our consolidated financial results. Net earnings after tax related to the entities was approximately $2,606 for the year ended September 28, 2011, including $1,246 that is attributable to noncontrolling interests. The after-tax income for the year ended September 28, 2011 includes the aforementioned gain on sale of $1,559.

Note_3_Impairment_and_Restaura

Note 3. Impairment and Restaurant Closings	12 Months Ended
Note 3. Impairment and Restaurant Closings	Sep. 25, 2013
Note 3. Impairment And Restaurant Closings	'
Note 3. Impairment and Restaurant Closings	'
Note 3. Impairment and Restaurant Closings	Steak n Shake recorded asset impairment during fiscal years 2013, 2012 and 2011 of $1,666, $901 and $1,032, respectively. No Steak n Shake company-operated restaurants were closed in fiscal years 2013, 2012 and 2011. Western recorded restaurant closing costs of $72 in fiscal year 2013. Western closed one company-operated restaurant in fiscal year 2013.

Note_4_Investments

Note 4. Investments	12 Months Ended
Note 4. Investments	Sep. 25, 2013
Investments [Abstract]	'
Note 4. Investments	'
	Investments consisted of the following:

		2013	2012
	Cost	$ 50,884	$ 199,057
	Gross unrealized gains	34,595		71,416
	Gross unrealized losses	—	(615		)
	Fair value	$ 85,479	$ 269,858


	During fiscal year 2013, the Company contributed $377,636 of cash and securities to the investment partnerships in exchange for limited partner interests. We apply equity method accounting to these investments. As of September 25, 2013, the Company retained a balance of $85,479 of investments deemed as available-for-sale securities, largely concentrated in the common stock of one investee, Cracker Barrel Old Country Store, Inc.
	Investment gains/losses are recognized when investments are sold (as determined on a specific identification basis) or as otherwise required by GAAP. The timing of realized gains and losses from sales can have a material effect on periodic earnings. However, such realized gains or losses usually have little, if any, impact on total Shareholders’ equity because the investments are carried at fair value with any unrealized gains/losses included as a component of Accumulated other comprehensive income in Shareholders’ equity. We believe that realized investment gains/losses are often meaningless in terms of understanding reported results. Short-term investment gains/losses have caused and may continue to cause significant volatility in our results.

	The Company recognized a pre-tax gain of $182,746 ($114,931 net of tax) on the contribution of securities to investment partnerships for fiscal year 2013. The gain had a material effect on the Company’s fiscal 2013 earnings. However, this gain had no impact on total Shareholders’ equity because the investments were carried at fair value prior to the contribution, with the unrealized gains included as a component of Accumulated other comprehensive income.

	Realized investment gains/losses for the fiscal years ended September 25, 2013, September 26, 2012 and September 28, 2011 were as follows:

		2013	2012			2011
	Gross realized gains on sales	$ 1	$ 4,584			$ 7,775
	Gross realized losses on sales	—	(384	)		(415	)
	Total realized gains/losses	$ 1	4,200			7,360

	During fiscal year 2013, the Company had unrealized losses on available for sale equity securities in a continuous unrealized loss position for more than twelve consecutive months. Therefore, we recorded an impairment of $570 in fiscal year 2013.

	From time to time, the Company enters into certain derivative transactions as part of its investment strategy. In accordance with ASC 815, Accounting for Derivative Instruments and Hedging Activities, these derivatives are marked to market for each reporting period and this fair value adjustment is recorded as a gain or loss in the Consolidated Statement of Earnings.

	The Company may enter into short sales on certain equity securities, that is, a transaction in which the Company sells securities it does not own. The Company’s use of short sales involves the risk that the price of the security in the open market may be higher when it is purchased in order to close out the Company’s short position, resulting in a loss to the Company. Such a loss is theoretically limitless because there are no restrictions on the potential increase in the price of a security, or any guarantee as to the price at which the Company would be able to purchase the security in the open market. Securities sold in short sale transactions and the interest and dividends payable on such securities, if any, are reflected as a liability in Accrued expenses in the Consolidated Balance Sheet. As of September 25, 2013 and September 26, 2012 we had no outstanding short sales.

	For the year ended September 28, 2011, the Company recorded investment gains of $610 related to the change in fair value of derivatives and securities sold short.

Note_5_Equity_in_Investment_Pa

Note 5. Equity in Investment Partnerships	12 Months Ended
Note 5. Equity in Investment Partnerships	Sep. 25, 2013
Notes to Financial Statements	'
Note 5. Equity in Investment Partnerships	'
	Beginning July 1, 2013, as a result of the sale of Biglari Capital and of our limited partner interests in the investment partnerships, the Company reports on the limited partnership interests under the equity method of accounting. Our proportional share of equity in the investment partnerships, excluding Company common stock held by said partnerships, is recorded as Equity in investment partnerships. The Company’s pro-rata share of its common stock held by the investment partnerships is recorded as Treasury stock. The Company will record gains/losses from investment partnerships (inclusive of the investment partnerships’ unrealized gains and losses on their securities) in the Consolidated Statements of Earnings based on our carrying value of these partnerships. The fair value is calculated net of the general partner’s accrued incentive fees. Gains and losses on Company common stock included in the earnings of these partnerships are eliminated because they are recorded as Treasury stock.
	The fair value and carrying value of our partnership interest is presented below:
	Fair value of partnership interest at July 1, 2013		$	54,608
	Contributions to investment partnerships			377,636
	Gains from investment partnerships from July 1 through September 25, 2013			23,053
	Fair value of partnership interest at September 25, 2013			455,297
	Gains from appreciation of Biglari Holdings stock held by investment partnerships			-2,985
	Proportionate share of Company stock held by investment partnerships			-54,613
	Carrying value of partnership interests at September 25, 2013		$	397,699
	The carrying value of the partnership interest approximates fair value adjusted by changes in the value of Company stock held. Fair value is estimated based on our proportional ownership interest of the fair value of investments held by the investment partnerships. The fair value measurement is classified as level 3 within the fair value hierarchy.
	The investment partnerships have a December 31 fiscal year end, with their most current quarter ending September 30, 2013. For purposes of recording our allocation of Gains from the investment partnerships, we use the investment partnerships’ similar period results. For the period ended September 25, 2013, the investment partnership for the period ended September 30, 2013 was used. Accordingly, we recorded $20,068 of Gains from investment partnerships during fiscal year 2013. As the general partner of the investment partnerships, Biglari Capital will earn an incentive reallocation fee for the Company’s investments equal to 25% of the net profits above an annual hurdle rate of 6% on December 31 of each year. Our policy is to accrue an estimated incentive fee throughout the fiscal year. Our investment in these partnerships is committed according to a rolling 5-year basis.
	Summarized financial information for Lion Fund and Lion Fund II is presented below:
		Equity in Investment Partnerships
		Lion Fund		Lion Fund II
	Current and Total Assets as of September 30, 2013	$ 126,121		$ 408,883
	Current and Total Liabilities as of September 30, 2013	$ 83		$ 11
	Revenue for the 3 month period ending September 30, 2013	$ 9,200		$ 25,109
	Earnings for the 3 month period ending September 30, 2013	$ 9,170		$ 25,098
	Biglari Holdings’ Ownership Interest	52.14%		96.28%
	The investments held by the investment partnerships are largely concentrated in the common stock of one investee, Cracker Barrel Old Country Store, Inc.

Note_6_Consolidated_Affiliated

Note 6. Consolidated Affiliated Partnerships	12 Months Ended
Note 6. Consolidated Affiliated Partnerships	Sep. 25, 2013
Consolidated Affiliated Partnerships:	'
Note 6. Consolidated Affiliated Partnerships	'
	Collectively, the Lion Fund and Western Acquisitions were referred to as consolidated affiliated partnerships of the Company. Certain of the consolidated affiliated partnerships held the Company’s common stock as investments. Within our consolidated financial statements, we classified this common stock as Treasury stock though the shares were legally outstanding. As of September 26, 2012, the consolidated affiliated partnerships held 205,743 shares of the Company’s common stock. However, beginning July 1, 2013, only the Company’s proportional share of its common stock as held by the investment partnerships is recorded as Treasury stock. As of September 25, 2013 our proportional share of the Company’s common stock held by the investment partnerships was 132,406 shares.

	Net earnings of the Company included the realized and unrealized appreciation/depreciation of the investments held by consolidated affiliated partnerships, other than realized and unrealized appreciation/depreciation of investments the consolidated affiliated partnerships held in the Company’s common stock, which was eliminated in the consolidation.

	In fiscal year 2010, Biglari Holdings invested a total of $35,697 in the Lion Fund, both in the form of the acquisition of the general partner and as a direct limited partner investment. The fair value of these investments in the Lion Fund totaled $48,306 at September 26, 2012. These investments in the Lion Fund did not appear explicitly in the Company’s Consolidated Balance Sheet as of September 26, 2012 because of the requirement to consolidate fully the Lion Fund (inclusive of third party interests) in the Company’s financial statement. Further, the Lion Fund’s portfolio holds significant interest in Biglari Holdings’ common stock, which was classified on the Company’s Consolidated Balance Sheet as a reduction to Shareholders’ equity as of September 26, 2012.

	The following table summarizes the cost and fair value of the investments held by the consolidated affiliated partnerships, other than holdings of the Company’s common stock:

			2012
	Equity securities:
	Cost		$	10,288
	Fair value		$	13,151

	The investments held by consolidated affiliated partnerships, other than holdings of the Company’s common stock, were as follows:

					September 26, 2012

	Fair value of equity securities					$	13,151
	Cash						12,115
	Investments held by consolidated affiliated partnerships					$	25,266


	Cash held by consolidated affiliated partnerships was available for use only by the consolidated affiliated partnerships.

	Realized investment gains/losses arise when investments are sold (as determined on a specific identification basis). The net unrealized and realized gains/losses from investments held by consolidated affiliated partnerships, other than holdings of the Company’s debt and equity securities, for the fiscal years ended September 25, 2013, September 26, 2012 and September 28, 2011 were as follows:

		2013		2012	2011
	Gross unrealized gains	$ 3,746		$ 3,047	$ 1,317
	Gross unrealized losses	-410		-	-1,547
	Net realized gains/losses from sale	261		2,895	3,365
	Total net unrealized and realized gains/losses	$ 3,597		$ 5,942	$ 3,135

	The limited partners of each of the investment funds have the ability to redeem their capital upon certain occurrences; therefore, the ownership of the investment funds held by the limited partners was presented as Redeemable noncontrolling interests of consolidated affiliated partnerships and measured at the greater of carrying value or fair value on the accompanying Consolidated Balance Sheet. The maximum redemption amount of the redeemable noncontrolling interests as of September 26, 2012 was $52,088. The affiliated partnerships were no longer consolidated as of September 25, 2013.

	The following is a reconciliation of the redeemable noncontrolling interests in the consolidated affiliated partnerships.

		2013		2012	2011
	Carrying value at beginning of year	$ 52,088		$ 45,252	$ 62,245
	Contributions from noncontrolling interests	1,076		1,545	1,780
	Distributions to noncontrolling interests	-2,302		-254	-17,499
	Incentive fee	-21		-36	-2,510
	Income allocation	1,922		3,188	1,909
	Adjustment to redeemable noncontrolling interest to reflect maximum redemption value	4,810		2,393	-673
	Adjustment to reflect deconsolidation of affiliated partnerships	-57,573		—	—
	Carrying value at end of year	$ —		$52,088	$ 45,252

	The consolidated affiliated partnerships held shares of the Company’s common stock. Any unrealized gain or loss on the common stock of the Company was eliminated in our financial statements. The unrealized gain that was attributable to the noncontrolling interests increased the redemption value of outside capital. The adjustment to increase the redemption value based on unrealized gains in the Company’s common stock held by the consolidated affiliated partnerships was $2,393 on September 26, 2012 and ($673) on September 28, 2011.

	The Company, through its ownership of Biglari Capital and Western Investments Inc., was entitled to an incentive fee to the extent investment performance of the consolidated affiliated partnerships exceeded specified hurdle rates. Any such fee was included in net earnings attributable to the Company in the period the fee was earned.

	Biglari Capital, the general partner of the Lion Fund, earned a $21 incentive reallocation fee at December 31, 2012. At December 31, 2011, Biglari Capital earned a $36 incentive reallocation fee. At December 31, 2010, Biglari Capital earned a $2,510 incentive reallocation fee.As a result of the sale of Biglari Capital and dissolution of Western Acquisitions, L.P., the Company is no longer entitled to receive such incentive fees.

	Net earnings attributable to the Company only included the Company’s share of gains and losses related to its investments in the consolidated affiliated partnerships; all other earnings or losses from the consolidated affiliated partnerships are allocated to the redeemable noncontrolling interests.

	During the first quarter of fiscal year 2011, Mustang Capital Partners I, L.P. and Mustang Capital Partners II, L.P. were liquidated, and their funds were distributed to the partners. The distribution of $15,660, including $1,421 of noncash distributions, is noted in the Distributions to noncontrolling interests line in the above reconciliation.

Note_7_Assets_Held_for_Sale

Note 7. Assets Held for Sale	12 Months Ended
	Sep. 25, 2013
Notes to Financial Statements	'
Note 7. Assets Held for Sale	'
	Assets held for sale are composed of the following:

		2013	2012
	Land and buildings	$ 561	$ 2,050
	Improvements	—	307
	Total assets held for sale	$ 561	$ 2,357

	As of September 25, 2013, the balance included two parcels of land. In fiscal year 2013, three restaurants and two parcels of land were sold. Two parcels of land were added to assets held for sale during 2013.

	The balance on September 26, 2012 included the following assets: three restaurants and two parcels of land. In fiscal year 2012, one restaurant and two parcels of land were sold. One parcel of land and one restaurant were added to assets held for sale during 2012. Five parcels of land, one office building, and one restaurant were reclassified to property and equipment during fiscal year 2012.

	The Company expects to sell these properties within one year of their classification as assets held for sale.

Note_8_Other_Current_Assets

Note 8. Other Current Assets	12 Months Ended
Note 8. Other Current Assets	Sep. 25, 2013
Note 8. Other Current Assets	'
Note 8. Other Current Assets	'
Note 8. Other Current Assets	Other current assets primarily include prepaid rent and other prepaid contractual obligations.

Note_9_Property_and_Equipment

Note 9. Property and Equipment	12 Months Ended
Note 9. Property and Equipment	Sep. 25, 2013
Property, Plant and Equipment [Abstract]	'
Note 9. Property and Equipment	'
	Property and equipment is composed of the following:

		2013	2012
	Land	$ 162,488	$ 162,685
	Buildings	152,891	150,601
	Land and leasehold improvements	155,962	155,702
	Equipment	209,913	204,340
	Construction in progress	5,538	2,605
		686,792	675,933
	Less accumulated depreciation and amortization	(340,645)	(319,295)
	Property and equipment, net	$ 346,147	$ 356,638

	Depreciation and amortization expense for property and equipment for fiscal years 2013, 2012, and 2011 was $23,422, $24,290, and $25,169, respectively.

Note_10_Goodwill_and_Other_Int

Note 10. Goodwill and Other Intangibles	12 Months Ended
Note 10. Goodwill and Other Intangibles	Sep. 25, 2013
Goodwill and Intangible Assets Disclosure [Abstract]	'
Note 10. Goodwill and Other Intangibles	'
	Goodwill
	Goodwill consists of the excess of the purchase price over the fair value of the net assets acquired in connection with business acquisitions.

	A reconciliation of the change in the carrying value of goodwill is as follows:

		2013		2012
	Balance at beginning of year	$27,529		$27,529
	Acquisition of business and lease rights	722		—
	Balance at end of year	$28,251		$27,529

	We are required to assess goodwill and any indefinite-lived intangible assets for impairment annually, or more frequently if circumstances indicate impairment may have occurred. The analysis of potential impairment of goodwill requires a two-step approach. The first step is the estimation of fair value of each reporting unit. If step one indicates that impairment potentially exists, the second step is performed to measure the amount of impairment, if any. Goodwill impairment exists when the estimated fair value of goodwill is less than its carrying value.

	During the fourth quarter of the fiscal year, we perform our annual assessment of the recoverability of our goodwill related to four reporting units. During the second quarter of the fiscal year, we perform our annual assessment of our recoverability of goodwill related to two reporting units. The valuation methodology and underlying financial information included in our determination of fair value require significant management judgments. We use both market and income approaches to derive fair value. The judgments in these two approaches include, but are not limited to, comparable market multiples, long-term projections of future financial performance, and the selection of appropriate discount rates used to determine the present value of future cash flows. Changes in such estimates or the application of alternative assumptions could produce significantly different results. No potential impairment was identified for our reporting units during fiscal years 2013, 2012, or 2011.

	During fiscal year 2013, the Company made the decision to close two of Western’s company-operated stores. As a result, the Company will combine the two reporting units related to Western’s operations into one in order to test goodwill for impairment in the future.

	The Company acquired a business and lease rights during fiscal year 2013 for $3,770. The purchase price was allocated under Intangible assets with indefinite lives of $3,407, Goodwill of $722, and other assets and liabilities of ($359). Proforma financial information is not presented as it is not material.

	Other Intangibles
	Other intangibles are composed of the following:

			2013							2012

				Gross carrying amount		Accumulated amortization			Total		Gross carrying amount		Accumulated amortization			Total
	Right to operate		$	1,480	$	(1,353	)	$	127	$	1,480	$	(1,235	)	$	245
	Franchise agreement			5,310		(1,859	)		3,451		5,310		(1,328	)		3,982
	Other			810		(574	)		236		810		(533	)		277
	Total			7,600		(3,786	)		3,814		7,600		(3,096	)		4,504
	Intangible assets with indefinite lives			3,907		—			3,907		1,744		—			1,744
	Total intangible assets		$	11,507	$	(3,786	)	$	7,721	$	9,344	$	(3,096	)	$	6,248

	Intangible assets subject to amortization consist of franchise agreements connected with the purchase of Western and rights to favorable leases related with prior acquisitions. These intangible assets are being amortized over their estimated weighted average of useful lives ranging from eight to twelve years.

	Amortization expense for fiscal years 2013, 2012, and 2011 was $690, $702, and $742, respectively. Total annual amortization expense for each of the next five years will approximate $595.

	Intangible assets with indefinite lives consist of reacquired franchise rights in connection with previous acquisitions as well as lease rights acquired in the current year. During fiscal year 2013, the Company recorded an impairment loss for an intangible asset of $1,244. The loss represents the trade name of Western’s company-operated stores, which we decided no longer to use.

Note_11_Other_Assets

Note 11. Other Assets	12 Months Ended
Note 11. Other Assets	Sep. 25, 2013
Other Assets [Abstract]	'
Note 11. Other Assets	'
Note 11. Other Assets	Other assets primarily include capitalized software, non-qualified plan investments, the non-current portion of capitalized loan acquisition costs, restricted cash of $3,600 related to workers’ compensation claims, and the non-current portion of prepaid rent.

Note_12_Accrued_Expenses

Note 12. Accrued Expenses	12 Months Ended
Note 12. Accrued Expenses	Sep. 25, 2013
Payables and Accruals [Abstract]	'
Note 12. Accrued Expenses	'
	Accrued expenses include the following:

		2013	2012
	Salaries, wages, vacation, and severance	$ 22,379	$ 22,205
	Taxes payable	12,986	13,067
	Insurance accruals	8,629	7,971
	Other	10,009	10,623
	Total accrued expenses	$ 54,003	$ 53,866

Note_13_Other_Longterm_Liabili

Note 13. Other Long-term Liabilities	12 Months Ended
Note 13. Other Long-term Liabilities	Sep. 25, 2013
Other Liabilities Disclosure [Abstract]	'
Note 13. Other Long-term Liabilities	'
Note 13. Other Long-term Liabilities	Other long-term liabilities include deferred rent expense, non-qualified plan obligations, deferred gain on sale-leaseback transactions, uncertain tax positions, and deferred compensation.

Note_14_Income_Taxes

Note 14. Income Taxes	12 Months Ended
Note 14. Income Taxes	Sep. 25, 2013
Income Tax Disclosure [Abstract]	'
Note 14. Income Taxes	'
	The components of the provision for income taxes consist of the following:

			2013		2012			2011
	Current:
	Federal		$ 506		$	7,275		$	13,217
	State		1,748			1,905			2,836
	Deferred				(2,727		)	(2,186		)
	Deferred		72,035		(2,727		)	(2,186		)
	Total income taxes		$ 74,289		$6,453			$13,867

	Reconciliation of effective income tax:
	Tax at U.S. statutory rates (35%)		$ 68,738		$	10,919		$	16,741
	State income taxes, net of federal benefit		5,043			1,063			1,410
	Tax attributed to investment partnerships		7,024			-			-
	Federal income tax credits		(4,249)			(3,517	)		(4,307	)
	Share-based payments		-			25			68
	Tax attributed to noncontrolling interests		(666)			(1,103	)		210
	Dividends received deduction		(2,647)			(963	)		(161	)
	Other				29			(94		)
	Other		1,046		29			(94		)
	Total income taxes		$ 74,289		$ 6,453			13,867

	Income taxes paid totaled $1,518 in fiscal year 2013, $16,802 in fiscal year 2012, and $12,436 in fiscal year 2011. Income tax refunds totaled $52 in fiscal year 2013, $641 in fiscal year 2012 and $2,856 in fiscal year 2011.

	As of September 25, 2013, we had approximately $803 of unrecognized tax benefits, including approximately $100 of interest and penalties, which are included in Other long-term liabilities in the Consolidated Balance Sheet. During fiscal year 2013, we recognized approximately $46 in potential interest and penalties associated with uncertain tax positions. Our continuing practice is to recognize interest expense and penalties related to income tax matters in Income tax expense. Of the $803 of unrecognized tax benefits, $803 would impact the effective income tax rate if recognized.

	The following table summarizes the Company’s unrecognized tax benefits, excluding interest and penalties:


	29-Sep-10		$ 1,235
	Gross increases – current period tax positions		178
	Gross increases – prior period tax positions		238
	Lapse of statute of limitations		-171
	28-Sep-11		1,480
	Gross increases – current period tax positions		109
	Lapse of statute of limitations		-843
	26-Sep-12		746
	Gross increases – current period tax positions		25
	Gross decreases- prior period tax positions		-6
	Lapse of statute of limitations		-62
	25-Sep-13		$703

	We file income tax returns which are periodically audited by various foreign, federal, state, and local jurisdictions. With few exceptions, we are no longer subject to federal, state, and local tax examinations for fiscal years prior to 2009. We believe we have certain state income tax exposures related to fiscal years 2009 through 2012. Due to the expiration of the various state statutes of limitations for these fiscal years, it is possible that the total amount of unrecognized tax benefits will decrease by approximately $419 within 12 months.

	Deferred tax assets and liabilities are determined based on differences between financial reporting and tax basis of assets and liabilities and are measured using the currently enacted tax rates and laws that will be in effect when the differences are expected to reverse. Our deferred tax assets and liabilities consist of the following:

			2013		2012
	Deferred tax assets:
	Insurance reserves		$ 2,938		$	2,673
	Share-based payments		13			13
	Compensation accruals		1,952			1,968
	Gift card accruals					596
	Gift card accruals		942			596
	Net operating loss credit carryforward		60			60
	Other		2,027		2,516
	Total deferred tax assets		7,932		7,826

	Deferred tax liabilities:
	Investments		91,405			27,274
	Fixed asset basis difference		3,187			5,436
	Goodwill and intangibles		3,376			3,158
	Total deferred tax liabilities		97,968		35,868
	Net deferred tax liability		(90,036)		(28,042)
Less current portion		(5,511)		-19,367
Long-term liability		$(84,525)		$ (8,675)

Receivables on the Consolidated Balance Sheet include income tax receivables of $1,662 and $2,455 as of September 25, 2013 and September 26, 2012, respectively.

In September 2013, the IRS issued final and proposed regulations under IRC Sections 162, 263(a), and 168. These regulations provide guidance regarding the deduction and capitalization of expenditures related to tangible property and the disposition of tangible depreciable property. The regulations are generally effective for tax years beginning on or after January 1, 2014 and taxpayers will be allowed to rely on, and early adopt, both the final regulations and the proposed disposition rules to facilitate implementation efforts. The application of the new regulations did not have a material effect on the Company’s consolidated financial statements.

Note_15_Leased_Assets_and_Leas

Note 15. Leased Assets and Lease Commitments	12 Months Ended
Note 15. Leased Assets and Lease Commitments	Sep. 25, 2013
Note 15. Leased Assets And Lease Commitments	'
Note 15. Leased Assets and Lease Commitments	'

	We lease certain physical facilities under non-cancelable lease agreements. These leases require the payment of real estate taxes, insurance and maintenance costs. Certain leased facilities, which are no longer operated but are subleased to third parties or franchisees, are classified below as non-operating properties. Minimum future rental payments for non-operating properties have
	not been reduced by minimum sublease rentals of $9,567 related to operating leases receivable under non-cancelable subleases. The property and equipment cost related to finance obligations and capital leases as of September 25, 2013 is as follows: $72,941 buildings, $61,663 land, $29,506 land and leasehold improvements, $2,600 equipment and $66,108 accumulated depreciation.

	On September 25, 2013, obligations under non-cancelable finance obligations, capital leases, and operating leases (excluding real estate taxes, insurance and maintenance costs) require the following minimum future rental payments:

								Operating Leases

	Year	Finance Obligations		Capital Leases		Total		Operating Property		Non-Operating
	Year	Finance Obligations		Capital Leases		Total		Operating Property		Property
	2014	$	15,279	$	681	$	15,960	$	14,649	$	461
	2015		14,576		673		15,249		13,812		412
	2016		12,997		487		13,484		12,400		414
	2017		10,367		300		10,667		11,072		581
	2018		8,147		233		8,380		10,269		795
	After 2018	14,168		—		14,168		52,814		7,114
	Total minimum future rental payments	75,534		2,374		77,908		$115,016		$ 9,777
	Less amount representing interest	43,546		249		43,795
	Total principal obligations under leases	31,988		2,125		34,113
	Less current portion	5,659		580		6,239
	Non-current principal obligations under leases	26,329		1,545		27,874
	Residual value at end of lease term	78,354		19		78,373
	Obligations under leases	$ 104,683		$ 1,564		$106,247

	Contingent rent totaling $1,356 in fiscal year 2013, $1,173 in fiscal year 2012, and $967 in fiscal year 2011 is recorded in Rent expense in the accompanying Consolidated Statement of Earnings.

	Non-cancellable finance obligations were created when the Company, under prior management, entered into certain build-to-suit or sale leaseback arrangements. As a result of continuing involvement in the underlying leases (generally due to right of substitution or purchase option provisions of the leases), the Company accounts for the leases as financings.

Note_16_Borrowings

Note 16. Borrowings	12 Months Ended
	Sep. 25, 2013
Debt Disclosure [Abstract]	'
Note 16. Borrowings	'
	Steak n Shake Credit Facility
	On September 25, 2012, Steak n Shake, as borrower, and its subsidiaries entered into a credit agreement (the “Credit Facility”) with the lenders party thereto as amended. The Credit Facility consists of a $130,000 senior secured term loan facility (the “Term Loan”) and a $50,000 senior secured revolving credit facility (the “Revolver”).

	The Term Loan matures on September 25, 2017 and has a repayment schedule with quarterly amortization, beginning on December 31, 2012, initially equal to 1.875% of the initial principal amount of the Term Loan (as adjusted pursuant to the Credit Facility), together with accrued and unpaid interest on the principal amount to be paid, with the balance due at maturity. The Revolver will be available until September 25, 2017. Interest on the Term Loan and Revolver is based on a Eurodollar rate plus an applicable margin ranging from 3.00% to 3.75% or a base rate plus an applicable margin ranging from 2.00% to 2.75%. The applicable margins are contingent on Steak n Shake’s total leverage ratio. The Revolver also carries a commitment fee ranging from 0.35% to 0.50%, based on Steak n Shake’s total leverage ratio, per annum on the unused portion of the credit line. As of September 25, 2013, the interest rate on the Term Loan was 3.94%, and there were no borrowings under the Revolver.

	The Credit Facility includes affirmative and negative covenants and events of default, as well as financial covenants relating to a maximum total leverage ratio and a minimum consolidated fixed charge coverage ratio. Steak n Shake was in compliance with all covenants under the New Credit Facility as of September 25, 2013.

	On September 18, 2013, Steak n Shake entered into a first amendment to the Credit Facility, which provided Steak n Shake the ability to make certain investments, including into The Lion Fund II, extended the maximum total leverage ratio up to 3.75 to 1.00 for the period ending September 30, 2013, as well as made certain other amendments to the Credit Facility.

	Both the Term Loan and the Revolver are secured by first priority security interests in substantially all the assets of Steak n Shake. Biglari Holdings is not a guarantor under the Credit Facility. $114,176 of the proceeds of the Term Loan was used to repay all outstanding amounts under Steak n Shake’s former credit facility and to pay related fees and expenses. The remaining Term Loan proceeds of approximately $15,824 were used by Steak n Shake for working capital and general corporate purposes. Steak n Shake incurred no material early termination penalties in connection with the termination of the former credit facility.
	We recorded a $1,955 loss on the extinguishment of debt for the fiscal year ended September 26, 2012 related to the write-off of deferred loan costs associated with the former credit facility. We capitalized $1,961 in debt issuance costs related to the Credit Facility in 2012 and we capitalized $3,174 in debt issuance costs for the year ended September 28, 2011 related to the former credit facility.

	We had $6,588 and $4,781 in standby letters of credit outstanding as of September 25, 2013 and September 26, 2012, respectively.

	Security Agreement
	In connection with the Credit Facility, Steak n Shake entered into a security agreement (the “Security Agreement”) with Fifth Third Bank. Pursuant to the Security Agreement, Steak n Shake granted to Fifth Third a lien on all of the Pledged Collateral (as defined in the Security Agreement). The Pledged Collateral does not include the real estate of Steak n Shake, but such real estate is subject to a springing lien if Steak n Shake does not maintain certain leverage ratios.

	Interest Rate Swap
	On October 11, 2012, Steak n Shake entered into a new interest rate swap for a notional amount of $65,000 through September 30, 2015. The agreement hedges potential changes in the Eurodollar rate. The fair value of the interest rate swap was a liability of $214 on September 25, 2013 and is included in Accrued expenses on the Consolidated Balance Sheet.

	During fiscal year 2011, Steak n Shake entered into an interest rate swap agreement for a notional amount of $20,000, which effectively fixed the interest rate on a prior credit facility at 3.25% through February 15, 2016. The notional amount decreases $1,000 quarterly through its maturity on February 15, 2016. The notional amount of the interest rate swap was $10,000 on September 25, 2013. The fair value of the interest rate swap was a liability of $187 and $351 on September 25, 2013 and September 26, 2012, respectively, and is included in Accrued expenses on the Consolidated Balance Sheet.

	Western Real Estate Loan Agreement and Note Payable
	Western Real Estate, L.P. (“Western RE”), a wholly-owned subsidiary of Western, had a promissory note of $2,293 as of September 26, 2012. The balance of the note was paid in full on November 28, 2012.

	The carrying amounts for debt reported in the Consolidated Balance Sheet do not differ materially from their fair market values at September 25, 2013. The fair value was determined to be a Level 3 fair value measurement.

	Expected principal payments for all outstanding borrowings, excluding the Revolver, for which we had no outstanding borrowings as of September 25, 2013, are as follows:

	2014	9,750
	2015	13,000
	2016	13,000
	2017	84,500
	Total	$120,250

	Interest
	No interest was capitalized in connection with financing additions to property and equipment during fiscal years 2013, 2012, and 2011. Interest paid on debt amounted to $4,950 in 2013, $7,359 in 2012, and $2,947 in 2011. Interest paid on obligations under leases was $9,829, $10,073, and $10,565 in 2013, 2012, and 2011, respectively.

	Debentures
	In connection with the acquisition of Western in fiscal year 2010, the Company issued 14% redeemable subordinated debentures due 2015 (the “Debentures”) in the aggregate principal amount of $22,959. On March 30, 2011, the Company redeemed all of its outstanding Debentures. The Debentures were redeemed for cash at an aggregate redemption price of approximately $23,420, representing 100% of the principal amount outstanding, plus accrued and unpaid interest up to, but not including, March 30, 2011. The Debentures were issued and the redemption was effected pursuant to the provisions of the Indenture, dated March 30, 2010 (the “Indenture”), between the Company and Wells Fargo Bank, National Association, as trustee. Upon the redemption of the Debentures, the Company’s obligations under the Debentures and the Indenture were satisfied and discharged in accordance with their terms. Included in the Debentures aggregate redemption price of $23,420 was approximately $7,804 of principal and interest paid to the Lion Fund. The payment to the Lion Fund did not appear explicitly in the Company’s Consolidated Statement of Cash Flows because of the requirement to consolidate fully the Lion Fund in the Company’s financial statements.

Note_17_Related_Party_Transact

Note 17. Related Party Transactions	12 Months Ended
	Sep. 25, 2013
Related Party Transactions [Abstract]	'
Note 17. Related Party Transactions	'
	On July 1, 2013, Biglari Holdings entered into the following agreements with Mr. Biglari, its Chairman and Chief Executive Officer: (i) a Stock Purchase Agreement, (ii) a Shared Services Agreement with Biglari Capital, and (iii) a First Amendment to the Amended and Restated Incentive Bonus Agreement, dated September 28, 2010, with Mr. Biglari. The transactions contemplated thereby were unanimously approved by the independent Governance, Compensation and Nominating Committee of the Board of Directors of the Company (the “Committee”), which retained separate counsel, tax/accounting advisors, an independent compensation consultant, and a financial advisor to assist the Committee in the structuring, evaluation, and negotiation of such transactions.

	Taken together, the agreements provide for the following transactions:

		· The contribution of investments held by Biglari Holdings to the Lion Fund and the Lion Fund II. In return, Biglari Holdings received limited partner interests in each of these investment partnerships.

		· Biglari Capital’s distribution of substantially all of its partnership interests in the Lion Fund (including its adjusted capital balance) to Biglari Holdings. As a result, Biglari Capital maintained solely a general partner interest in each of the Lion Fund and the Lion Fund II.

		· The sale of Biglari Capital by Biglari Holdings to Mr. Biglari for a purchase price of $1,700.

		· The execution of the Shared Services Agreement pursuant to which Biglari Holdings will provide certain services to Biglari Capital in exchange for an increase in Biglari Holdings’ and its subsidiaries’ hurdle rate above that of other limited partners (6% vs. 5%) with respect to Biglari Holdings’ and its subsidiaries’ limited partner interests in the Lion Fund and the Lion Fund II. The hurdle rate is the threshold annualized return for limited partners of each of the Lion Fund and the Lion Fund II above which Biglari Capital, as general partner of each, is entitled to receive an incentive reallocation.

		· The modification of the Incentive Bonus Agreement between Biglari Holdings and Mr. Biglari to give effect to the transactions, inter alia, by providing that Mr. Biglari’s incentive compensation will thereafter be calculated without reference to any investments by Biglari Holdings and its subsidiaries in investment partnerships (including the Lion Fund and the Lion Fund II), of which Biglari Capital or Mr. Biglari is the general partner.

	The transactions were entered into by Biglari Holdings to, among other things, (a) reduce regulatory burdens related to investments, (b) improve cash management, (c) foster an enhanced understanding of Biglari Holdings and mitigate conflicts of interest through the separation and clear demarcation of Biglari Holdings from the Lion Fund, and (d) simplify the Incentive Bonus Agreement.

	Stock Purchase Agreement

	Pursuant to the Stock Purchase Agreement, Biglari Holdings sold all the shares of Biglari Capital to Mr. Biglari for a purchase price of $1,700 in cash (the “Biglari Capital Transaction”) and recorded a gain of $1,597. Prior to the execution and delivery of the Stock Purchase Agreement, Biglari Capital distributed to the Company substantially all of Biglari Capital’s partnership interests in the Lion Fund (including, without limitation, Biglari Capital’s adjusted capital balance in its capacity as general partner of the Lion Fund, which totaled $5,721). Biglari Capital thus retained solely a general partner interest in each of the Lion Fund and the Lion Fund II at the time of the Biglari Capital Transaction. In addition, Biglari Holdings contributed securities owned by it to the Lion Fund and the Lion Fund II in exchange for limited partner interests in each of these investment partnerships. Biglari Holdings will maintain an interest in the contributed securities through its limited partner interests in the Lion Fund and the Lion Fund II, but without the associated costs under the Incentive Bonus Agreement with Mr. Biglari, as explained further below. The contribution of securities to the Lion Fund and the Lion Fund II was enacted in order to achieve a clear delineation on a forward-going basis between the roles of Biglari Holdings – which will generally own companies in their entirety – and the Lion Fund and the Lion Fund II – which will own companies in part, i.e., through their investments in securities.

	Shared Services Agreement

	In connection with the Biglari Capital Transaction, Biglari Holdings and Biglari Capital entered into the Shared Services Agreement pursuant to which Biglari Holdings will provide certain services to Biglari Capital, including use of space at the Company’s corporate headquarters in San Antonio, in exchange for a 6% hurdle rate for Biglari Holdings and its subsidiaries (as compared to a 5% hurdle rate for all other limited partners) in order to determine the incentive reallocation to Biglari Capital, as general partner of the Lion Fund and the Lion Fund II, under their respective partnership agreements. The incentive reallocation to Biglari Capital is equal to 25% of the net profits allocated to the limited partners in excess of their applicable hurdle rate. The Shared Services Agreement runs for an initial five-year term, and automatically renews for successive five-year periods, unless terminated by either party effective at the end of the initial or renewed term, as applicable. The term of the Shared Services Agreement coincides with the lock-up period for the Company’s investments in the Lion Fund and the Lion Fund II under their respective partnership agreements.

	Incentive Agreement Amendment

	Also in connection with the Biglari Capital Transaction, Biglari Holdings and Mr. Biglari entered into the Incentive Agreement Amendment, which amends the Amended and Restated Incentive Bonus Agreement with Mr. Biglari to reflect and give effect to the Biglari Capital Transaction and to more closely tie Mr. Biglari’s incentive compensation to the Company’s operating earnings, while excluding unrealized gains and earnings on investments held by the investment partnerships from the calculation of the incentive bonus. The Incentive Agreement Amendment makes assertions as follows:

	With respect to the Company’s fiscal year ending September 25, 2013 (“fiscal 2013”) only, provides for Mr. Biglari’s incentive compensation to be calculated by reference to the periods (i) from the beginning of fiscal 2013 to the closing of the Biglari Capital Transaction and (ii) from the closing of the Biglari Capital Transaction to the end of fiscal 2013. Any decrease in adjusted book value attributable to a decline in operating earnings during this latter period will be offset against adjusted book value for the former period in determining Mr. Biglari’s incentive compensation.

	Excludes from the calculation of Biglari Holdings’ adjusted book value, and therefore from the calculation of Mr. Biglari’s incentive compensation, commencing with the period after the closing of the Biglari Capital Transaction, any realized or unrealized gains or losses, earnings and all other amounts attributable to any investments by Biglari Holdings and its subsidiaries in “Outside Investment Partnerships,” defined as investment partnerships (or the equivalent) in which Biglari Holdings or a subsidiary is a limited partner (or the equivalent) and Mr. Biglari or his affiliate (other than Biglari Holdings or a subsidiary) is the general partner (or the equivalent). As a result of the Biglari Capital Transaction, the Lion Fund and the Lion Fund II now constitute Outside Investment Partnerships and all amounts attributable to their investments in securities (including the securities contributed by Biglari Holdings) will be excluded from the calculation of Mr. Biglari’s incentive compensation.

	Provides for the “high water mark” in the Incentive Bonus Agreement to be adjusted to give effect to the Biglari Capital Transaction, commencing with the period after the closing of the Biglari Capital Transaction. The calculation of the high water mark would thus exclude (a) Biglari Holdings’ and its subsidiaries’ investments in Outside Investment Partnerships, (b) gains/losses (realized or unrealized) and earnings on the securities contributed to the Outside Investment Partnerships, prior to their date of contribution, as well as the aggregate cost to acquire such securities, and (c) any other items on Biglari Holdings’ Consolidated Balance Sheet related to investment partnerships.

	License Agreement

	On January 11, 2013, the Company entered into a Trademark License Agreement (the “License Agreement”) with Mr. Biglari. The License Agreement was unanimously approved by the Committee.

	Under the License Agreement, Mr. Biglari granted to the Company an exclusive license to use the Biglari and Biglari Holdings names (the “Licensed Marks”) in association with various products and services (collectively the “Products and Services”). Upon (a) the expiration of twenty years from the date of the License Agreement (subject to extension as provided in the License Agreement), (b) Mr. Biglari’s death, (c) the termination of Mr. Biglari’s employment by the Company for Cause (as defined in the License Agreement), or (d) Mr. Biglari’s resignation from his employment with the Company absent an Involuntary Termination Event (as defined in the License Agreement), the Licensed Marks for the Products and Services will transfer from Mr. Biglari to the Company without any compensation if the Company is continuing to use the Licensed Marks in the ordinary course of its business. Otherwise, the rights will revert to Mr. Biglari.

	The license provided under the License Agreement is royalty-free unless and until one of the following events occurs: (i) a Change of Control (as defined in the License Agreement) of the Company; (ii) the termination of Mr. Biglari’s employment by the Company without Cause; or (iii) Mr. Biglari’s resignation from his employment with the Company due to an Involuntary Termination Event (each, a “Triggering Event”). Following the occurrence of a Triggering Event, Mr. Biglari is entitled to receive a 2.5% royalty on “Revenues” with respect to the “Royalty Period.” The royalty payment to Mr. Biglari does not apply to all revenues received by Biglari Holdings and its subsidiaries simply because the name of the public corporation is “Biglari Holdings,” nor does it apply retrospectively (i.e., to revenues received with respect to the period prior to the Triggering Event). The royalty applies to revenues recorded by the Company on an accrual basis under GAAP, solely with respect to the defined period of time after the Triggering Event equal to the Royalty Period, from a covered Product, Service or business that (1) has used the Biglari Holdings or Biglari name at any time during the term of the License Agreement, whether prior to or after a Triggering Event, or (2) the Company has specifically identified, prior to a Triggering Event, will use the name Biglari or Biglari Holdings.

	“Revenues” means all revenues received, on an accrual basis under GAAP, by the Company, its subsidiaries and affiliates from the following: (1) all Products and Services covered by the License Agreement bearing or associated with the names Biglari and Biglari Holdings at any time (whether prior to or after a Triggering Event). This category would include, without limitation, the use of Biglari or Biglari Holdings in the public name of a business providing any covered Product or Service; and (2) all covered Products, Services and businesses that the Company has specifically identified, prior to a Triggering Event, will bear, use or be associated with the name Biglari or Biglari Holdings.

	The Committee unanimously approved the association of the Biglari name and mark with all of Steak n Shake’s restaurants (including Company operated and franchised locations), products and brands. On May 14, 2013, the Company, Steak n Shake, LLC and Steak n Shake Enterprises, Inc. entered into a Trademark Sublicense Agreement in connection therewith. Accordingly, revenues received by the Company, its subsidiaries and affiliates from Steak n Shake’s restaurants, products and brands would come within the definition of Revenues for purposes of the License Agreement.

	The “Royalty Period” is a defined period of time, after the Triggering Event, calculated as follows: (i) if, following three months after a Triggering Event, the Company or any of its subsidiaries or affiliates continues to use the Biglari or Biglari Holdings name in connection with any covered product or service, or continues to use Biglari as part of its corporate or public company name, then the “Royalty Period” will equal (a) the period of time during which the Company or any of its subsidiaries or affiliates continues any such use, plus (b) a period of time after the Company, its subsidiaries and affiliates have ceased all uses of the names Biglari and Biglari Holdings equal to the length of the term of the License Agreement prior to the Triggering Event, plus three years. As an example, if a Triggering Event occurs five years after the date of the License Agreement, and the Company ceases all uses of the Biglari and Biglari Holdings names two years after the Triggering Event, the Royalty Period will equal a total of ten years (the sum of two years after the Triggering Event during which the Biglari and Biglari Holdings names are being used, plus a period of time equal to the five years prior to the Triggering Event, plus three years); or (ii) if the Company, its subsidiaries and affiliates cease all uses of the Biglari and Biglari Holdings names within three months after a Triggering Event, then the “Royalty Period” will equal the length of the term of the License Agreement prior to the Triggering Event, plus three years. As an example, if a Triggering Event occurs five years after the date of the License Agreement, and the Company ceases all uses of the Biglari and Biglari Holdings names two months after the Triggering Event, the Royalty Period will equal a total of eight years (the sum of the period of time equal to the five years prior to the Triggering Event, plus three years). Notwithstanding the above methods of determining the Royalty Period, the minimum Royalty Period is five years after a Triggering Event.

Note_18_Common_Stock_Plans

Note 18. Common Stock Plans

12 Months Ended

Sep. 25, 2013

Equity [Abstract]

Note 18. Common Stock Plans

We maintain stock-based compensation plans which allow for the issuance of incentive stock options, non-qualified stock options, and restricted stock to officers, other key employees, and to members of the Board of Directors. We generally use treasury shares to satisfy the issuance of shares under these stock-based compensation plans. No shares were granted under the plans in fiscal year 2013, 2012 or 2011.

Restricted Stock Plans

On March 7, 2008, our shareholders approved the 2008 Equity Incentive Plan (the “2008 Plan”). The 2008 Plan provides for grants of stock-based awards for up to 45,000 shares of common stock with a maximum of 35,000 shares which may be issued as restricted stock. These restricted stock awards are restricted for a period and are forfeited to us if the grantee is not employed (except for reasons of retirement, permanent disability or death) at the end of the vesting period. Awards of restricted stock are valued at 100% of market value at the date of grant. The total value of the stock grant is amortized to compensation expense ratably over the vesting period. There are no shares of restricted stock granted under the 2008 Plan for which restrictions have not lapsed at September 25, 2013. At September 25, 2013, no shares were reserved for future grants. To date, 11,660 shares have vested under the 2008 Plan.

The total fair value of shares vested during the year ended September 28, 2011 was $657. No shares vested in 2013 or 2012. The amount charged to expense under the 2008 Plan was $51 ($32, net of tax) in 2011. No expense was recorded under the 2008 Plan in 2013 or 2012. There was no unrecognized compensation cost at September 25, 2013.

There was no restricted stock activity under the 2008 Plan in 2013.

Employee Stock Option Plans

The 2008 Plan also provides for awards in the form of options to purchase shares of common stock. No options were granted in 2013, 2012, or 2011 under the 2008 Plan. Options granted under the 2008 Plan are exercisable in equal installments on each anniversary of the date of grant until fully exercisable. The options expire ten years from the date of the grant and are issued with an exercise price equal to the fair market value of a share of common stock on the date of grant. Options may be granted under the 2008 Plan to officers and key employees selected by the Governance, Compensation and Nominating Committee of the Board of Directors (the “Compensation Committee”). As of September 25, 2013, 10,235 options have been granted under the 2008 Plan and no shares are available for future issuance.

The following table summarizes the options activity under all of our stock option plans:

Options

Weighted

Aggregate

Average

Intrinsic Value

Exercise Price

Remaining

Contractual Life

Outstanding at September 26, 2012

10,036

275.89

Exercised

-535

171.08

Canceled or forfeited

-120

293.21

Outstanding at September 25, 2013

9,381

281.64

3.39 years

1,252

Vested or expected to vest at September 25, 2013

9,381

281.64

3.39 years

1,252

Exercisable at September 25, 2013

9,281

282.52

3.42 years

1,248

During fiscal years 2013, 2012, and 2011, $0, $75 ($74, net of tax), and $218 ($210, net of tax), respectively, was charged to expense related to the stock option plans. The total intrinsic value of options exercised during the years ended September 25, 2013, September 26, 2012, and September 28, 2011 was $133, $235, and $693, respectively. There was no unrecognized stock option compensation cost at September 25, 2013.

Note_19_Commitments_and_Contin

Note 19. Commitments and Contingencies	12 Months Ended
Note 19. Commitments and Contingencies	Sep. 25, 2013
Commitments and Contingencies Disclosure [Abstract]	'
Note 19. Commitments and Contingencies	'
	We are involved in various legal proceedings and have certain unresolved claims pending. We believe, based on examination of these matters and experiences to date, that the ultimate liability, if any, in excess of amounts already provided in our consolidated financial statements is not likely to have a material effect on our results of operations, financial position or cash flows.

	On June 3, 2013 and July 2, 2013, two shareholders of the Company filed derivative actions putatively on behalf of the Company against the members of our board of directors in the United States District Courts for the Southern District of Indiana and the Western District of Texas. The shareholders allege claims for breach of fiduciary duty, gross mismanagement, contribution and indemnification, abuse of control, waste, and unjust enrichment relating to certain Company transactions, including the Company’s acquisition of Biglari Capital, Mr. Biglari’s incentive agreement, the trademark license agreement between the Company and Mr. Biglari, and the Company’s rights offering. The shareholders seek to recover unspecified damages, various forms of injunctive relief, and an award of their attorneys’ fees. The Company believes these claims are without merit and intends to defend these cases vigorously.

Note_20_Fair_Value_of_Financia

Note 20. Fair Value of Financial Assets and Liabilities	12 Months Ended
Note 20. Fair Value of Financial Assets and Liabilities	Sep. 25, 2013
Fair Value Disclosures [Abstract]	'
Note 20. Fair Value of Financial Assets and Liabilities	'
	The fair value framework as established in ASC paragraph 820-10-50-2 requires the categorization of assets and liabilities into three levels based upon the assumptions (inputs) used to price the assets or liabilities. Level 1 provides the most reliable measure of fair values, whereas Level 3 generally requires significant management judgment. The three levels are defined as follows:

	•	Level 1: Unadjusted quoted prices in active markets for identical assets and liabilities.
	•	Level 2: Observable inputs other than those included in Level 1. For example, quoted prices for similar assets or liabilities in active markets or quoted prices for identical assets or liabilities in inactive markets.
	•	Level 3: Unobservable inputs reflecting management’s own assumptions about the inputs used in pricing the asset or liability.

	The following methods and assumptions were used to determine the fair value of each class of the following assets and liabilities recorded at fair value in the Consolidated Balance Sheet.

	Cash equivalents: Cash equivalents primarily consist of money market funds which are classified within Level 1 of the fair value hierarchy. The consolidated affiliated partnerships did not hold cash equivalents on September 26, 2012.

	Equity securities: The Company’s investments in equity securities are carried at fair value, based on quoted market prices, and are classified within Level 1 of the fair value hierarchy.

	Non-qualified deferred compensation plan investments: The assets of the Non-Qualified Plan are set up in a rabbi trust. They represent mutual funds that are carried at fair value, based on quoted market prices, and are classified within Level 1 of the fair value hierarchy.

	Investment held by consolidated affiliated partnership: Investments of $190 as of September 26, 2012 have been classified within Level 3 of the fair value hierarchy and represent a private security.

	Interest rate swaps: Interest rate swaps are marked to market each reporting period with fair value based on readily available market quotes, and are classified within Level 2 of the fair value hierarchy. Interest rate swaps at September 25, 2013 and September 26, 2012 represent the fair market value for Steak n Shake’s two interest rate swaps.

	As of September 25, 2013 and September 26, 2012, the fair values of financial assets and liabilities were as follows:

		25-Sep-13				26-Sep-12

		Level 1	Level 2	Level 3	Total	Level 1		Level 2		Level 3		Total
	Assets
	Cash equivalents	$ —	—	—	$ —	$	14,286	$	—	$	—	$	14,286
	Equity securities:
	Restaurant/Retail	79,357	—	—	79,357		266,940		—		—		266,940
	Insurance	6,122	—	—	6,122		1,574						1,574
	Other	—	—	—	—		1,344		—		—		1,344
	Equity securities held by consolidated affiliated partnerships:
	Restaurant/Retail	—	—	—	—		11,156		—		—		11,156
	Other	—	—	—	—		1,805		—		—		1,805
	Non-qualified deferred compensation plan investments	1,169	—	—	1,169		888		—		—		888
	Investment held by consolidated affiliated partnership					—		—		190		190
	Investment held by consolidated affiliated partnership	—	—	—	—	—		—		190		190
	Total assets at fair value	$86,648	$ —	$ —	$86,648	$297,993		$ —		$ 190		$298,183

	Liabilities
	Interest rate swaps	—				—		351		—		351
	Interest rate swaps	—	401	—	401	—		351		—		351
	Total liabilities at fair value	$ —	$ 401	$ —	$ 401	$ —		$351		$ —		$351

	There were no changes in our valuation techniques used to measure fair values on a recurring basis.

	During fiscal years 2013, 2012 and 2011, the Company recorded impairments on long-lived assets of $1,666, $901, and $1,032, respectively. The fair value of the long-lived assets was determined based on Level 2 inputs using quoted prices for similar properties and quoted prices for the properties from brokers. The fair value of the assets impaired was not material for the years ended 2013, 2012 and 2011.

	During fiscal year 2013, the Company recorded impairment on intangible assets of $1,244. The fair value was determined based on a discounted cash flow analysis which is a level 3 measurement. The fair value of the trade name was not material at impairment.

Note_21_Business_Segment_Repor

Note 21. Business Segment Reporting	12 Months Ended
Note 21. Business Segment Reporting	Sep. 25, 2013
Segment Reporting [Abstract]	'
Note 21. Business Segment Reporting	'
	Our reportable business segments are organized in a manner that reflects how management views those business activities. Certain businesses have been grouped together for segment reporting based upon operations even though those business units are operated under separate management.

	For fiscal year 2013 reportable segments were: (1) Restaurant Operations and (2) Investment Management. Our Restaurant Operations segment includes Steak n Shake and Western. On July 1, 2013 the Company sold Biglari Capital and no longer has an Investment Management segment as of September 25, 2013. We present information related to the holding company, Biglari Holdings, as Corporate and other.

	We assess and measure segment operating results based on segment earnings as disclosed below. Segment earnings from operations are not necessarily indicative of cash available to fund cash requirements, nor are they synonymous with cash flow from operations.

	The tabular information that follows shows data of our reportable segments reconciled to amounts reflected in the consolidated financial statements. The segments’ financial information does not reflect the impact of eliminations arising from intersegment transactions. The eliminations row represents the eliminations required to arrive at our consolidated GAAP reported results.

	A disaggregation of select data from our Consolidated Statements of Earnings for the three most recent years is presented in the tables that follow.

	Net revenue and earnings before income taxes and noncontrolling interests for the years ended September 25, 2013, September 26, 2012, and September 28, 2011 were as follows:

			Net Revenue
			2013		2012			2011
	Operating Business:
	Restaurant Operations:
	Steak n Shake		$737,090		$ 718,010			$689,325
	Western		14,829		15,895			16,078
	Total Restaurant Operations		751,919		733,905			705,403

	Investment Management:
	Management fees		—			—			224
	Consolidated affiliated partnerships		3,903		6,302			3,573
	Total Investment Management Operations		3,903		6,302			3,797
			$ 755,822		$ 740,207			$709,200

			Earnings before income taxes and noncontrolling interests									Net earnings attributable to Biglari Holdings Inc.
			2013		2012			2011				2013		2012		2011
	Operating Business:
	Restaurant Operations:
	Steak n Shake		$ 28,376		$ 45,622			$ 41,247				$ 21,023		$31,756		$ 29,367
	Western				2,157			2,455						1,354		1,610
	Western		511		2,157			2,455				338		1,354		1,610
	Total Restaurant Operations		28,887		47,779			43,702				21,361		33,110		30,977

	Investment Management:
	Biglari Capital Corp. (incentive fee)		21			36			2,510			13		22		1,535
	Management fees		—			—			224			—		—		139
	Consolidated affiliated partnerships		3,380		5,319			3,370				662		1,321		1,815
	Total Investment Management Operations		3,401		5,355			6,104				675		1,343		3,489

	Corporate and Other:
	Corporate and other		(12,070	)	(15,990		)	(4,624		)		(5,931	)	(9,196	)	(3,099	)
	Gains from investment partnerships		20,068		—			—				13,296		—		—
	Gain on contributions to investment partnerships		182,746		-			-				114,931		-		-
	Investment and derivative gains		1		4,200			7,970				1		2,604		4,941
	Total Corporate and Other		190,745		(11,790		)	3,346				122,297		(6,592	)	1,842

	Reconciliation of segments to consolidated amount:
	Eliminations including Gains from investment partnerships		(20,089	)	(36		)	(2,510		)		—		—		—
	Interest expense and loss on debt extinguishment, excluding interest allocated to operating businesses		(6,551		(10,110		)	(2,811		)		(4,062		(6,268	)	(1,743	)
			(6,551	)	(10,110		)	(2,811		)		(4,062	)	(6,268	)	(1,743	)
			$ 196,393		$ 31,198			$ 47,831				$ 140,271		$ 21,593		$ 34,565

	A disaggregation of our consolidated capital expenditure, depreciation, and amortization captions for fiscal years ended September 25, 2013, September 26, 2012, and September 28, 2011 is presented in the table that follows.

			Capital Expenditures								Depreciation and Amortization
			2013		2012			2011			2013		2012		2011
	Reportable segments:
	Restaurant Operations:
	Steak n Shake		$ 6,337		$ 7,513			$	11,092		$24,230		$25,432		$27,279
	Western		64		58				18		693		729		785
	Investment Management		-			—			—		—		—		27
Corporate and other		7,766		1,104			1,908			327		263		270
Consolidated Results		$ 14,167		$ 8,675			$13,018			$25,250		$26,424		$28,361


A disaggregation of our consolidated asset captions as of September 25, 2013 and September 26, 2012 is presented in the table that follows:-

	Goodwill					Identifiable Assets
	2013		2012			2013		2012
Reportable segments:
Restaurant Operations
Steak n Shake	$ 15,225		$14,503			$504,589		$ 433,382
Western	13,026		13,026			5,298		7,526
Investment Management	—			—		277			26,348
Corporate and other	—			—		450,148			279,002
Consolidated results	$ 28,251		$ 7,529					$ 746,258

						$960,292
Reconciliation of segments to consolidated amount:
Goodwill						28,251		27,529
Total assets						$988,543		$ 773,787

Note_22_Quarterly_Financial_Da

Note 22. Quarterly Financial Data (Unaudited)	12 Months Ended
Note 22. Quarterly Financial Data (Unaudited)	Sep. 25, 2013
Quarterly Financial Information Disclosure [Abstract]	'
Note 22. Quarterly Financial Data (Unaudited)	'
				1st		2nd		3rd		4th
				Quarter		Quarter		Quarter (3)		Quarter (3)
	For the year ended September 25, 2013 (52 weeks) ⁽¹⁾
	Total net revenues		$	166,511	$	225,210	$	184,602	$	179,499
	Gross profit ⁽²⁾			38,425		48,523		41,927		41,240
	Costs and expenses			159,181		220,606		178,137		177,164
	Earnings before income taxes			5,930		1,420		169,834		19,209
	Net earnings attributable to Biglari Holdings Inc.⁽⁵⁾			4,562		2,180		106,704		26,825
	Basic earnings per common share ⁽⁴⁾		$	3.18	$	1.52	$	74.57	$	18.85
	Diluted earnings per common share ⁽⁴⁾		$	3.18	$	1.51	$	74.4	$	18.82

	For the year ended September 26, 2012 (52 weeks) ⁽¹⁾
	Total net revenues		$	166,390	$	223,684	$	175,773	$	174,360
	Gross profit ⁽²⁾			42,129		52,279		40,990		41,217
	Costs and expenses			151,678		211,536		167,884		165,928
	Earnings before income taxes			14,753		7,667		4,986		3,792
	Net earnings attributable to Biglari Holdings Inc.			8,795		4,528		4,853		3,417
	Basic earnings per common share		$	6.13	$	3.15	$	3.38	$	2.38
	Diluted earnings per common share		$	6.11	$	3.15	$	3.37	$	2.38

	-1	Our fiscal year includes quarters consisting of 12, 16, 12 and 12 weeks, respectively.
	-2	We define Gross profit as Net sales less Cost of sales and Restaurant operating costs, which excludes Depreciation and amortization.
	-3	We recorded pre-tax Gain on contribution to investment partnerships of $162,869 in the 3^rd quarter and $19,877 in the 4^thquarter.
	-4	Earnings per share of common stock is based on the weighted average number of shares outstanding during the year. In fiscal year 2013 the Company completed a rights offering in which 286,767 new shares of common stock were issued. The theoretical earnings per share have been retroactively restated for all years to give effect to the rights offering.
	-5	Net earnings attributable to Biglari Holdings Inc. for the fourth quarter 2013 includes $20,068 ($13,296 net of tax) of Gains from investment partnerships.

Note_23_Supplemental_Disclosur

Note 23. Supplemental Disclosures of Cash Flow Information	12 Months Ended
Note 23. Supplemental Disclosures of Cash Flow Information	Sep. 25, 2013
Supplemental Cash Flow Elements [Abstract]	'
Note 23. Supplemental Disclosures of Cash Flow Information	'
Note 23. Supplemental Disclosures of Cash Flow Information	During fiscal year 2013, we had four new capital lease obligations of $2,311 and had $1,043 of capital expenditures in Accounts payable at year-end. During fiscal year 2012, we had no new capital lease obligations or lease retirements, and had $589 of capital expenditures in Accounts payable at year-end. During fiscal year 2011, we had no new lease obligations or lease retirements, and had $741 of capital expenditures in Accounts payable at year-end.

Notes_to_Condensed_Parent_Comp

Notes to Condensed Parent Company Financial Statements	12 Months Ended
	Sep. 25, 2013
Condensed Financial Information of Parent Company Only Disclosure [Abstract]	'
Notes to Condensed Parent Company Financial Statements	'
	Note 1. Basis of Presentation

	Biglari Holdings Inc.’s (the “Company”) condensed financial information has been derived from the consolidated financial statements and should be read in conjunction with the consolidated financial statements included in this Annual Report on Form 10-K.

	During the third quarter of fiscal year 2013 the Company sold all the outstanding shares of Biglari Capital Corp. (“Biglari Capital”) to Mr. Biglari for $1,700. Biglari Capital is the general partner of the Lion Fund and the newly-formed The Lion Fund II, L.P. (the “Lion Fund II”). Lion Fund and Lion Fund II (collectively “investment partnerships”) are limited partnerships that operate as private investment funds. Prior to the sale of Biglari Capital, the Company consolidated the Lion Fund. As a result of the sale of Biglari Capital the Company has ceased to have a controlling interest in the Lion Fund, which is, accordingly, no longer consolidated in the Company’s financial statements.

	During fiscal year 2013, the Company contributed cash and securities owned by it of $326,451 in exchange for limited partner interest in the investment partnerships. Prior to the sale of Biglari Capital, the securities contributed to the investment partnerships were accounted for as available-for-sale securities with unrealized gains and losses recorded as a component of Accumulated Other Comprehensive Income in the Consolidated Balance Sheet. Our interests in the investment partnerships are accounted for as equity method investments due to our retained limited partner interest. Prospectively from the sale of Biglari Capital, the Company records earnings from investment partnerships in the Consolidated Statement of Earnings based on our proportional ownership interest in the investment partnerships’ total earnings.

	Our investments consist of available-for-sale securities and are carried at fair value with net unrealized gains or losses reported as a component of Accumulated other comprehensive income in Shareholders’ equity. Realized gains and losses on disposals of investments are determined by specific identification of cost of investments sold and are included in Realized investment gains/losses, a component of Other income.

	Our interests in the investment partnerships are accounted as equity method investments because of our retained limited partner interest. The Company records earnings from investment partnerships (inclusive of the investment partnerships’ unrealized gains and losses on their securities) in the Consolidated Statements of Earnings based on our proportional ownership interest in partnerships’ total earnings.

	In fiscal year 2013, Biglari Holdings completed an offering of transferable subscription rights, distributing one transferable subscription right (“Rights”) for each share of its common stock to shareholders of record on August 27, 2013. Every five Rights entitled a shareholder to subscribe for one share of common stock at a price of $265.00. Shareholders on the record date who fully exercised the Rights distributed to them were also entitled to subscribe for and purchase additional shares of common stock not purchased by other Rights holders through their basic subscription privileges. The offering was oversubscribed and 286,767 new shares of common stock were issued. The Company received net proceeds of $75,595 million from the offering. Including the issuance of the newly subscribed shares the Company had 1,720,782 shares outstanding as of September 25, 2013.

	Note 2. Subsidiary Transactions

	Dividends
	No cash dividends were received during fiscal year 2013 or 2012. During fiscal year 2011, the Company received cash dividends from subsidiaries of $156,843, which included distributions of current year earnings of $28,094 and historical earnings of $128,749.
	Our wholly-owned subsidiary has a credit facility that imposes restrictions on its ability to transfer funds to the Company through intercompany loans, distributions, or dividends.

	Investment in Subsidiaries
	The Company’s investment in subsidiaries is stated at cost plus equity in undistributed earnings of subsidiaries adjusted for the cost basis of shares of Biglari Holdings common stock held by certain consolidated affiliated partnerships.

	Note 3. Investments
	Investments consisted of the following:

		2013		2012
	Cost	$ 5,989		$ 180,240
	Gross unrealized gains	133			68,715
	Gross unrealized losses	—		(461		)
	Fair value	$ 6,122		$248,494


	During fiscal year 2013, the Company contributed $326,451 of cash and securities to the investment partnerships in exchange for limited partner interests. We apply equity method accounting to these investments. As of September 25, 2013, the Company retained a balance of $6,122 of investments deemed as available-for-sale securities.

	Investment gains/losses are recognized when investments are sold (as determined on a specific identification basis) or as otherwise required by GAAP. The timing of realized gains and losses from sales can have a material effect on periodic earnings. However, such realized gains or losses usually have little, if any, impact on total Shareholders’ equity because the investments are carried at fair value with any unrealized gains/losses included as a component of Accumulated other comprehensive income in Shareholders’ equity. We believe that realized investment gains/losses are often meaningless in terms of understanding reported results. Short-term investment gains/losses have caused and may continue to cause significant volatility in our results.

	The Company recognized a pre-tax gain of $162,869 ($102,607 net of tax) on the contribution of securities to investment partnerships for fiscal year 2013. The gain had a material effect on the Company’s fiscal 2013 earnings. However, this gain had no impact on total Shareholders’ equity because the investments were carried at fair value prior to the contribution, with the unrealized gains included as a component of Accumulated other comprehensive income.

	Realized investment gains/losses for the fiscal years ended September 25, 2013, September 26, 2012 and September 28, 2011 were as follows:

		2013		2012			2011
	Gross realized gains on sales	$ 1		$ 4,536			$ 7,775
	Gross realized losses on sales	—		(384	)		(415	)
	Total realized gains/losses	$ 1		4,152			7,360

	During fiscal year 2013, the Company had unrealized losses on available for sale equity securities in a continuous unrealized loss position for more than twelve consecutive months. Therefore, we recorded an impairment of $570 in fiscal year 2013.

	From time to time, the Company enters into certain derivative transactions as part of its investment strategy. In accordance with ASC 815, Accounting for Derivative Instruments and Hedging Activities, these derivatives are marked to market for each reporting period and this fair value adjustment is recorded as a gain or loss in the Consolidated Statement of Earnings.

	The Company may enter into short sales on certain equity securities, that is, a transaction in which the Company sells securities it does not own. The Company’s use of short sales involves the risk that the price of the security in the open market may be higher when it is purchased in order to close out the Company’s short position, resulting in a loss to the Company. Such a loss is theoretically limitless because there are no restrictions on the potential increase in the price of a security, or any guarantee as to the price at which the Company would be able to purchase the security in the open market. Securities sold in short sale transactions and the interest and dividends payable on such securities, if any, are reflected as a liability in Accrued expenses in the Consolidated Balance Sheet. As of September 25, 2013 and September 26, 2012 we had no outstanding short sales.

	For the year ended September 28, 2011, the Company recorded investment gains of $610 related to the change in fair value of derivatives and securities sold short.

	Note 4. Equity in Investment Partnerships

	Beginning July 1, 2013, as a result of the sale of Biglari Capital and of our limited partner interests in the investment partnerships, the Company reports on the limited partnership interests under the equity method of accounting. Our proportional share of equity in the investment partnerships, excluding Company common stock held by said partnerships, is recorded as Equity in investment partnerships. The Company’s pro-rata share of its common stock held by the investment partnerships is recorded as Treasury stock. The Company will record gains/losses from investment partnerships (inclusive of the investment partnerships’ unrealized gains and losses on their securities) in the Consolidated Statements of Earnings based on our carrying value of these partnerships. The fair value is calculated net of the general partner’s accrued incentive fees. Gains and losses on Company common stock included in the earnings of these partnerships are eliminated because they are recorded as Treasury stock.
	The fair value and carrying value of our partnership interest is presented below:
				$	54,608
	Fair value of partnership interest at July 1, 2013
	Contributions to investment partnerships				326,451
	Gains from investment partnerships from July 1 through September 25, 2013				23,053
	Fair value of partnership interest at September 25, 2013				404,112
Gains from appreciation of Biglari Holdings stock held by investment partnerships				(2,985	)
Proportionate share of Company stock held by investment partnerships				(54,613	)
Carrying value of partnership interests at September 25, 2013			$	346,514
The carrying value of the partnership interest approximates fair value adjusted by changes in the value of Company stock held. Fair value is estimated based on our proportional ownership interest of the fair value of investments held by the investment partnerships. The fair value measurement is classified as level 3 within the fair value hierarchy.
The investment partnerships have a December 31 fiscal year end, with their most current quarter ending September 30, 2013. For purposes of recording our allocation of Gains from the investment partnerships, we use the investment partnerships’ similar period results. For the period ended September 25, 2013, the investment partnership for the period ended September 30, 2013 was used. Accordingly, we recorded $20,068 of Gains from investment partnerships during fiscal year 2013. As the general partner of the investment partnerships, Biglari Capital will earn an incentive reallocation fee for the Company’s investments equal to 25% of the net profits above an annual hurdle rate of 6% on December 31 of each year. Our policy is to accrue an estimated incentive fee throughout the fiscal year. Our investment in these partnerships is committed according to a rolling 5-year basis.
The investments held by the investment partnerships are largely concentrated in the common stock of one investee, Cracker Barrel Old Country Store, Inc.
Note 5. Income Taxes
Federal income taxes are paid based on the consolidated results of Biglari Holdings.

Note_1_Summary_of_Significant_1

Note 1. Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Sep. 25, 2013
Accounting Policies [Abstract]	'
Description of Business	'
	Biglari Holdings Inc. (“Biglari Holdings” or the “Company”) is a diversified holding company engaged in a number of business activities. The Company’s most important operating subsidiaries are involved in the franchising and operating of restaurants. The Company is led by Sardar Biglari, Chairman and Chief Executive Officer of Biglari Holdings and its major operating subsidiaries. The Company’s long-term objective is to maximize per-share intrinsic value of the Company. All major operating, investment, and capital allocation decisions are made for the Company and its subsidiaries by Sardar Biglari, Chairman and Chief Executive Officer.
Fiscal Year	'
	Our fiscal year ends on the last Wednesday in September. Fiscal years 2013, 2012, and 2011 each contain 52 weeks.
Principles of Consolidation	'
	As of September 25, 2013, the consolidated financial statements include the accounts of (i) the Company, (ii) its wholly-owned subsidiaries Steak n Shake Operations, Inc. (“Steak n Shake”) and Western Sizzlin Corporation (“Western”). In addition to consolidating wholly-owned entities we consolidate entities if we have a controlling interest in the general partner.

	As a result of acquisitions in 2010 the Company obtained controlling interests in The Lion Fund, L.P. (the “Lion Fund”), Western Acquisitions, L.P., Mustang Capital Partners I, L.P. and Mustang Capital Partners II, L.P. which were collectively referred to as “consolidated affiliated partnerships”. Prior to the third quarter of fiscal year 2013 the Company consolidated its affiliated partnerships in its consolidated financial statements, which included the accounts of (i) the Company, (ii) its wholly-owned subsidiaries Biglari Capital Corp. (“Biglari Capital”), Steak n Shake, and Western, and (iii) the Lion Fund and Western Acquisitions, L.P. The consolidated affiliated partnerships’ assets and liabilities were consolidated on the Consolidated Balance Sheet even though outside limited partners had majority ownership in all of the partnerships. The Company did not guarantee any of the liabilities of its subsidiaries that served as general partners to these consolidated affiliated partnerships. All intercompany accounts and transactions have been eliminated in consolidation.

	During the third quarter of fiscal year 2013 the Company liquidated the partners’ interest in Western Acquisitions, L.P. by distributing assets of the partnership to the partners and Biglari Holdings sold all of the outstanding shares of Biglari Capital to Mr. Biglari. Biglari Capital is the general partner of the Lion Fund and the newly-formed The Lion Fund II, L.P. (the “Lion Fund II”). Lion Fund and Lion Fund II (collectively “investment partnerships”) are limited partnerships that operate as private investment funds. As a result of the sale of Biglari Capital and the related winding up of Western Acquisitions, L.P., the Company has ceased to have a controlling interest in the consolidated affiliated partnerships, which are, accordingly, no longer consolidated in the Company’s financial statements.

	During the first quarter of fiscal year 2011, Mustang Capital Partners I, L.P. and Mustang Capital Partners II, L.P. were liquidated and the funds distributed to the partners. During the third quarter of fiscal year 2011, Western Mustang Holdings, L.L.C. sold its interests in Mustang Capital Management, L.L.C. and Mustang Capital Advisors, L.P.

	Beginning July 1, 2013, the consolidated financial statements only include the accounts of (i) the Company and (ii) its wholly-owned subsidiaries Steak n Shake and Western.

	During fiscal year 2013, the Company contributed cash and securities owned by it in exchange for limited partner interest in the investment partnerships. Prior to the sale of Biglari Capital, the securities contributed to the investment partnerships were accounted for as available for sale securities with unrealized gains and losses recorded as a component of Accumulated Other Comprehensive Income in the Consolidated Balance Sheet. Our interests in the investment partnerships are accounted for as equity method investments due to our retained limited partner interest. Prospectively from the sale of Biglari Capital, the Company records earnings from investment partnerships in the Consolidated Statement of Earnings based on our proportional ownership interest in the investment partnerships’ total earnings.

	Western’s and the investment partnerships’ September 30 period end for financial reporting purposes differs from the end of the Company’s fiscal year. There were no significant transactions in the intervening period.
Cash and Cash Equivalents	'
	Cash equivalents primarily consist of U.S. Government securities and money market accounts, all of which have original maturities of three months or less. Cash equivalents are carried at fair value. Our policy is to reinvest cash equivalents to acquire businesses or to purchase securities. Cash held by the consolidated affiliated partnerships is included in Investments held by consolidated affiliated partnerships on our Consolidated Balance Sheet.
Investments	'
	Our investments consist of available-for-sale securities and are carried at fair value with net unrealized gains or losses reported as a component of Accumulated other comprehensive income in Shareholders’ equity. Realized gains and losses on disposals of investments are determined by specific identification of cost of investments sold and are included in Realized investment gains/losses, a component of Other income.
Investment Partnerships	'
	Our interests in the investment partnerships are accounted as equity method investments because of our retained limited partner interests. The Company records Gains from investment partnerships (inclusive of the investment partnerships’ unrealized gains and losses on their securities) in the Consolidated Statements of Earnings based on our proportional ownership interest in the partnerships.
Investments Held by Consolidated Affiliated Partnerships	'
	The investment partnerships and consolidated affiliated partnerships are, for purposes of accounting principles generally accepted in the United States (“GAAP”), investment companies under the AICPA Audit and Accounting Guide Investment Companies. The Company has retained the specialized accounting for these entities, pursuant to Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 946-810-45 (formerly EITF Issue No. 85-12, Retention of Specialized Accounting for Investments in Consolidation).

	Marketable equity securities held by the consolidated affiliated partnerships are recorded at fair value with net unrealized and realized investment gains/losses included in Investment gains/losses of consolidated affiliated partnerships, a component of Net revenues on the Consolidated Statement of Earnings.
Concentration of Equity Price Risk	'
	The majority of our investments are conducted through investment partnerships which generally hold common stocks. We also hold marketable securities directly. Through direct and indirect holding (investments held by the investment partnerships) we hold a concentrated position in the common stock of Cracker Barrel Old Country Store, Inc. A significant decline in the general stock market or in the prices of major investments may produce a large net loss and decrease in our Consolidated Shareholders’ Equity. Decreases in values of equity investments can have a materially adverse effect on our earnings and on Consolidated Shareholders’ Equity.
Receivables	'
	Our accounts receivable balance consists primarily of franchisee, tax, and other receivables. We carry our accounts receivable at cost less an allowance for doubtful accounts which is based on a history of past write-offs and collections and current credit conditions.
Inventories	'
	Inventories are valued at the lower of cost (first-in, first-out method) or market, and consist primarily of restaurant food items and supply inventory.
Assets Held for Sale	'
	Assets held for sale consists of property and equipment related to restaurants and land that is currently being marketed for disposal. Assets held for sale are reported at the lower of carrying value or estimated fair value less costs to sell. The Company expects to sell these properties within one year of their classification as assets held for sale.
Property and Equipment	'
	Property and equipment are stated at cost less accumulated depreciation and amortization. Depreciation and amortization are recognized on the straight-line method over the estimated useful lives of the assets (10 to 25 years for buildings and land improvements, and 3 to 10 years for equipment). Leasehold improvements are amortized on the straight-line method over the shorter of the estimated useful lives of the improvements or the term of the related leases. Interest costs associated with the construction of new restaurants are capitalized. Major improvements are also capitalized while repairs and maintenance are expensed as incurred. We review our long-lived assets whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. For purposes of this assessment, assets are evaluated at the lowest level for which there are identifiable cash flows. If the future undiscounted cash flows of an asset are less than the recorded value, an impairment is recorded for the difference between the carrying value and the estimated fair value of the asset. Refer to Note 3 for information regarding asset impairments.
Goodwill and Intangible Assets	'
	Goodwill and indefinite life intangibles are not amortized, but are tested for potential impairment on an annual basis, or more often if events or circumstances change that could cause goodwill or indefinite life intangibles to become impaired. Other purchased intangible assets are amortized over their estimated useful lives, generally on a straight-line basis. We perform reviews for impairment of intangible assets whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. An impairment loss is recognized when estimated future cash flows expected to result from the use of the asset and its eventual disposition are less than its carrying value. When an impairment is identified, we reduce the carrying value of the asset to its estimated fair value. No impairments were recorded on goodwill during fiscal years 2013, 2012, or 2011. During fiscal year 2013, the Company recorded an impairment representing the trade name of Western’s company-operated stores. Refer to Note 10 for information regarding our goodwill and other intangible assets.
Capitalized Software	'
	Internal-use software is stated at cost less accumulated amortization and is amortized using the straight-line method over its estimated useful life ranging from three to seven years. Software assets are reviewed for impairment when events or circumstances indicate that the carrying value may not be recoverable over the remaining lives of the assets. During the software application development stage, capitalized costs include external consulting costs, cost of software licenses, and internal payroll and payroll-related costs for employees who are directly associated with a software project. Upgrades and enhancements are capitalized if they result in added functionality which enables the software to perform tasks it was previously incapable of performing. Software maintenance, training, data conversion, and business process reengineering costs are expensed in the period in which they are incurred. Capitalized software is included in the balance of Other assets in the Consolidated Balance Sheet.
Operating Leases	'
	The Company leases certain property under operating leases. Many of these lease agreements contain rent holidays, rent escalation clauses and/or contingent rent provisions. Rent expense is recognized on a straight-line basis over the expected lease term, including cancelable option periods when failure to exercise such options would result in an economic penalty. In addition, the rent commencement date of the lease term is the earlier of the date when we become legally obligated for the rent payments or the date when we take access to the property or the grounds for build out.
Revenue Recognition	'
	Net Sales
	We record revenue from restaurant sales at the time of sale, net of discounts. Revenue from the sale of gift cards is deferred at the time of sale and recognized upon redemption by the customer or at expiration of the gift cards. Sales revenues are presented net of sales taxes. Cost of sales primarily includes the cost of food and disposable paper and plastic goods used in preparing and selling our menu items and excludes depreciation and amortization, which is presented as a separate line item on the Consolidated Statement of Earnings.

	Franchise Royalties and Fees
	Unit franchise fees and area development fees are recorded as revenue when the related restaurant begins operations. Royalty fees and administrative services fees are based on franchise sales and are recognized as revenue as earned.

	Other Revenue
	Other revenue relates primarily to rental income.

	Investment Gains from Consolidated Affiliated Partnerships
	Investment gains from consolidated affiliated partnerships include realized and unrealized gains/losses on investments held by consolidated affiliated partnerships. Realized gains/losses from the disposal of investments held by consolidated affiliated partnerships are determined by specific identification of cost of investments sold.
Insurance Reserves	'
	We self-insure a significant portion of expected losses under our workers’ compensation, general liability, auto, directors’ and officers’ and medical liability insurance programs, and record a reserve for our estimated losses on all unresolved open claims and our estimated incurred but not reported claims at the anticipated cost to us. Insurance reserves are recorded in the balance of Accrued expenses in the Consolidated Balance Sheet.
Earnings Per Share	'
	Earnings per share of common stock is based on the weighted average number of shares outstanding during the year. In fiscal year 2013, Biglari Holdings completed an offering of transferable subscription rights, distributing one transferable subscription right (“Rights”) for each share of its common stock to shareholders of record on August 27, 2013. Every five Rights entitled a shareholder to subscribe for one share of common stock at a price of $265.00. Shareholders on the record date who fully exercised the Rights distributed to them were also entitled to subscribe for and purchase additional shares of common stock not purchased by other Rights holders through their basic subscription privileges. The offering was oversubscribed and 286,767 new shares of common stock were issued. The Company received net proceeds of $75,595 million from the offering. Including the issuance of the newly subscribed shares the Company had 1,720,782 shares outstanding as of September 25, 2013. Earnings per share have been retroactively restated for every year to account for the 2013 rights offering. For fiscal year 2013 financial reporting purposes, the shares of Company stock attributable to our limited partner interest in the Lion Fund — based on our proportional ownership during the period — are considered Treasury stock on the Consolidated Balance Sheet. For fiscal year 2012 financial reporting purposes all common shares of the Company held by the consolidated affiliated partnerships are recorded in Treasury stock on the Consolidated Balance Sheet.

	For purposes of computing the weighted average common shares outstanding the shares of treasury stock attributable to the unrelated limited partners of the consolidated affiliated partnerships — based on their proportional ownership during the period — are considered outstanding shares.

	The following table presents a reconciliation of basic and diluted weighted average common shares:

		2013	2012	2011
	Basic earnings per share:
	Weighted average common shares	1,429,684	1,436,321	1,432,728
	Diluted earnings per share:
	Weighted average common shares	1,429,684	1,437,321	1,432,728
	Dilutive effect of stock awards	3,053	3,513	7,487
	Weighted average common and incremental shares	1,432,737	1,440,834	1,440,215
	Number of share-based awards excluded from the calculation of earnings per share as the awards’ exercise prices were greater than the average market price of the Company’s common stock.	705	705
				705
Stock-Based Compensation	'
	We account for all stock-based compensation, including grants of employee stock options, nonvested stock and shares issued under our employee stock purchase plan, using the fair value based method. Refer to Note 18 for additional information regarding our stock-based compensation.
The Steak n Shake 401(k) Savings Plan	'
	The Steak n Shake 401(k) Savings Plan (the “401(k) Plan”) is a defined contribution plan covering substantially all employees after they have attained age 21 and completed six months of service and allows employees to defer up to 20% of their salaries and allows for discretionary matching contributions. Discretionary matching contributions of $207, $213 and $271 were made in fiscal years 2013, 2012 and 2011, respectively.
Marketing Expense	'
	Advertising costs are charged to expense at the later of the date the expenditure is incurred or the date the promotional item is first communicated.
Non-Qualified Deferred Compensation Plan	'
	We maintain The Steak n Shake Non-Qualified Savings Plan, a self-directed non-qualified deferred compensation plan (the “Non-Qualified Plan”) for executive employees. The Non-Qualified Plan allows highly compensated employees to defer amounts from their salaries for retirement savings and includes a discretionary employer match generally equal to the amount of the match the employee would have received as a participant in our 401(k) Plan. The Non-Qualified Plan is structured as a rabbi trust; therefore, assets in the Non-Qualified Plan are subject to creditor claims in the event of bankruptcy. We recognize investment assets in Other assets on the Consolidated Balance Sheet at current fair value. A liability of the same amount is recorded in Other long-term liabilities on the Consolidated Balance Sheet representing our obligation to distribute funds to participants. The investment assets are classified as trading, and accordingly, realized and unrealized gains and losses are recognized in income.
Use of Estimates	'
	Preparation of the consolidated financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from the estimates.
New Accounting Standards	'
	In February 2013, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) 2013-04, Liabilities (Topic 405), which provides guidance for the recognition, measurement, and disclosure of obligations resulting from joint and several liability arrangements. The guidance requires an entity to measure those obligations as the sum of the amount the reporting entity agreed to pay on the basis of its arrangement among its co-obligors and any additional amount the reporting entity expects to pay on behalf of its co-obligors. The guidance also requires an entity to disclose the nature and amount of the obligation as well as other information about those obligations. ASU 2013-04 is effective for fiscal years beginning after December 15, 2013, which is effective for the Company’s first quarter of fiscal year 2015. We do not believe the adoption of ASU 2013-04 will have a material effect on the Company’s consolidated financial statements.

	In February 2013, the FASB issued ASU 2013-02, Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income. ASU 2013-02 requires disclosure of the amounts reclassified out of each component of accumulated other comprehensive income and into net earnings during the reporting period and is effective for reporting periods beginning after December 15, 2012. We do not believe the adoption of ASU 2013−02 in the first quarter of fiscal year 2014 will have a material impact on the measurement of net earnings or other comprehensive income.

	In December 2011, the FASB issued ASU 2011-11, Disclosures about Offsetting Assets and Liabilities and in January 2013, the FASB issued ASU 2013-01, Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities. ASU 2011-11, as c1arified, enhances disclosures surrounding offsetting (netting) assets and liabilities. The clarified standard applies to derivatives, repurchase agreements and securities lending transactions and requires companies to disclose gross and net information about financial instruments and derivatives eligible for offset and to disclose financial instruments and derivatives subject to master netting arrangements in financial statements. The clarified standard did not have a material effect on our financial position or results of operations.

	In October 2012, the FASB issued ASU 2012-04, Technical Corrections and Improvements, which makes certain technical corrections (i.e., relatively minor corrections and clarifications) and “conforming fair value amendments” to the FASB Accounting Standards Codification (the “Codification”). The corrections and improvements include technical corrections based on feedback on the Codification and conforming amendments primarily related to fair value in areas outside of ASC 820. The amendments affect various Codification topics and apply to all reporting entities within the scope of those topics and became effective for the Company on December 20, 2012. We do not expect the adoption of ASU 2012-04 to have a material effect on our financial position or results of operations.

	In July 2012, the FASB issued ASU 2012−02, Intangibles—Goodwill and Other (Topic 350): Testing Indefinite-Lived Intangible Assets for Impairment. The revised standard is intended to reduce the cost and complexity of testing indefinite-lived intangible assets other than goodwill for impairment. It allows companies to perform a “qualitative” assessment to determine whether further impairment testing of indefinite-lived intangible assets is necessary, similar in approach to the goodwill impairment test. The amendments are effective for annual and interim impairment tests performed for fiscal years beginning after September 15, 2012. Early adoption is permitted. We do not expect the provisions of ASU 2012-02 to have a material effect on our financial position or results of operations.

	In December 2011, the FASB issued ASU 2011−12, Comprehensive Income. The amendments in ASU 2011-12 supersede certain pending paragraphs in ASU 2011−05, Presentation of Comprehensive Income to effectively defer only those changes in ASU 2011−05 that relate to the presentation of reclassification adjustments out of accumulated other comprehensive income. The requirement to report comprehensive income either in a single continuous financial statement or in two separate but consecutive financial statements became effective in the first quarter of fiscal 2013. The adoption of ASU 2011−12 did not impact the measurement of net earnings or other comprehensive income.

Note_1_Summary_of_Significant_2

Note 1. Summary of Significant Accounting Policies (Tables)	12 Months Ended
Note 1. Summary of Significant Accounting Policies (Tables)	Sep. 25, 2013
Accounting Policies [Abstract]	'
Schedule of Weighted Average Number of Shares	'

		2013	2012	2011
	Basic earnings per share:
	Weighted average common shares	1,429,684	1,436,321	1,432,728
	Diluted earnings per share:
	Weighted average common shares	1,429,684	1,437,321	1,432,728
	Dilutive effect of stock awards	3,053	3,513	7,487
	Weighted average common and incremental shares	1,432,737	1,440,834	1,440,215
	Number of share-based awards excluded from the calculation of earnings per share as the awards’ exercise prices were greater than the average market price of the Company’s common stock.	705	705
		705	705	705

Note_4_Investments_Tables

Note 4. Investments (Tables)	12 Months Ended
Note 4. Investments (Tables)	Sep. 25, 2013
Schedule of Investments [Abstract]	'
Schedule of fair value of Investments	'
		2013		2012
	Cost	$ 50,884		$ 199,057
	Gross unrealized gains	34,595			71,416
	Gross unrealized losses	—		(615		)
	Fair value	$ 85,479		$ 269,858
Schedule of investment gains/losses	'
		2013				2012			2011
	Gross realized gains on sales	$	1			$	4,584		$	7,775
	Gross realized losses on sales		—				(384	)		(415	)
	Total realized gains/losses	$	1			$	4,200		$	7,360

Note_5_Equity_in_Investment_Pa1

Note 5. Equity in Investment Partnerships (Tables)	12 Months Ended
Note 5. Equity in Investment Partnerships (Tables)	Sep. 25, 2013
Note 5. Equity In Investment Partnerships Tables	'
Fair value and carrying value of our partnership interest	'
	Fair value of partnership interest at July 1, 2013		$	54,608
	Contributions to investment partnerships			377,636
	Gains from investment partnerships from July 1 through September 25, 2013			23,053
	Fair value of partnership interest at September 25, 2013			455,297
	Gains from appreciation of Biglari Holdings stock held by investment partnerships			-2,985
	Proportionate share of Company stock held by investment partnerships			-54,613
	Carrying value of partnership interests at September 25, 2013		$	397,699
Summarized financial information for Equity in Investment Partnerships	'

		Equity in Investment Partnerships
		Lion Fund		Lion Fund II
	Current and Total Assets as of September 30, 2013	$ 126,121		$ 408,883
	Current and Total Liabilities as of September 30, 2013	$ 83		$ 11
	Revenue for the 3 month period ending September 30, 2013	$ 9,200		$ 25,109
	Earnings for the 3 month period ending September 30, 2013	$ 9,170		$ 25,098
	Biglari Holdings’ Ownership Interest	52.14%		96.28%

Note_6_Consolidated_Affiliated1

Note 6. Consolidated Affiliated Partnerships (Tables)	12 Months Ended
Note 6. Consolidated Affiliated Partnerships (Tables)	Sep. 25, 2013
Note 6. Consolidated Affiliated Partnerships Tables	'
Tabular disclosure of available-for-sale securities at cost and fair market value of consolidated affiliated partnerships.	'
			2012
	Equity securities:
	Cost		$	10,288
	Fair value		$	13,151
Tabular disclosure of investments held by consolidated affiliated partnerships	'
					September 26, 2012

	Fair value of equity securities					$	13,151
	Cash						12,115
	Investments held by consolidated affiliated partnerships					$	25,266

Tabular disclosure of realized and unrealized gains and losses on investments of consolidated affiliated partnerships reported in the statement of income.	'
		2013		2012	2011
	Gross unrealized gains	$ 3,746		$ 3,047	$ 1,317
	Gross unrealized losses	-410		-	-1,547
	Net realized gains/losses from sale	261		2,895	3,365
	Total net unrealized and realized gains/losses	$ 3,597		$ 5,942	$ 3,135
Tabular disclosure of redeemable noncontrolling interests of consolidated affiliated partnerships reported in the balance sheet.	'
		2013		2012	2011
	Carrying value at beginning of year	$ 52,088		$ 45,252	$ 62,245
	Contributions from noncontrolling interests	1,076		1,545	1,780
	Distributions to noncontrolling interests	-2,302		-254	-17,499
	Incentive fee	-21		-36	-2,510
	Income allocation	1,922		3,188	1,909
	Adjustment to redeemable noncontrolling interest to reflect maximum redemption value	4,810		2,393	-673
	Adjustment to reflect deconsolidation of affiliated partnerships	-57,573		—	—
	Carrying value at end of year	$ —		$52,088	$ 45,252

Note_7_Assets_Held_for_Sale_Ta

Note 7. Assets Held for Sale (Tables)	12 Months Ended
Note 7. Assets Held for Sale (Tables)	Sep. 25, 2013
Notes to Financial Statements	'
Schedule of assets held for sale	'
		2013	2012
	Land and buildings	$ 561	$ 2,050
	Improvements	—	307
	Total assets held for sale	$ 561	$ 2,357

Note_9_Property_and_Equipment_

Note 9. Property and Equipment (Tables)	12 Months Ended
Note 9. Property and Equipment (Tables)	Sep. 25, 2013
Property, Plant and Equipment [Abstract]	'
Schedule of Property, Plant and Equipment	'
		2013	2012
	Land	$ 162,488	$ 162,685
	Buildings	152,891	150,601
	Land and leasehold improvements	155,962	155,702
	Equipment	209,913	204,340
	Construction in progress	5,538	2,605
		686,792	675,933
	Less accumulated depreciation and amortization	(340,645)	(319,295)
	Property and equipment, net	$ 346,147	$ 356,638

Note_10_Goodwill_and_Other_Int1

Note 10. Goodwill and Other Intangibles (Tables)	12 Months Ended
Note 10. Goodwill and Other Intangibles (Tables)	Sep. 25, 2013
Goodwill and Intangible Assets Disclosure [Abstract]	'
Schedule of Goodwill	'
		2013		2012
	Balance at beginning of year	$27,529		$27,529
	Acquisition of business and lease rights	722		—
	Balance at end of year	$28,251		$27,529
Schedule Of Definite and Indefinite Lived Intangible Assets	'
			2013							2012

				Gross carrying amount		Accumulated amortization			Total		Gross carrying amount		Accumulated amortization			Total
	Right to operate		$	1,480	$	(1,353	)	$	127	$	1,480	$	(1,235	)	$	245
	Franchise agreement			5,310		(1,859	)		3,451		5,310		(1,328	)		3,982
	Other			810		(574	)		236		810		(533	)		277
	Total			7,600		(3,786	)		3,814		7,600		(3,096	)		4,504
	Intangible assets with indefinite lives			3,907		—			3,907		1,744		—			1,744
	Total intangible assets		$	11,507	$	(3,786	)	$	7,721	$	9,344	$	(3,096	)	$	6,248

Note_12_Accrued_Expenses_Table

Note 12. Accrued Expenses (Tables)	12 Months Ended
Note 12. Accrued Expenses (Tables)	Sep. 25, 2013
Payables and Accruals [Abstract]	'
Schedule of Accrued Expenses	'
		2013	2012
	Salaries, wages, vacation, and severance	$ 22,379	$ 22,205
	Taxes payable	12,986	13,067
	Insurance accruals	8,629	7,971
	Other	10,009	10,623
	Total accrued expenses	$ 54,003	$ 53,866

Note_14_Income_Taxes_Tables

Note 14. Income Taxes (Tables)	12 Months Ended
Note 14. Income Taxes (Tables)	Sep. 25, 2013
Income Tax Disclosure [Abstract]	'
Schedule of Components of Income Tax Expense	'
			2013	2012			2011
	Current:
	Federal	$	506	$	7,275		$	13,217
	State		1,748		1,905			2,836
	Deferred			(2,727		)	(2,186		)
	Deferred		72,035	(2,727		)	(2,186		)
	Total income taxes	$	74,289	$6,453			$13,867

Schedule of Effective Income Tax Rate Reconciliation	'
	Reconciliation of effective income tax:
	Tax at U.S. statutory rates (35%)		$ 68,738	$	10,919		$	16,741
	State income taxes, net of federal benefit		5,043		1,063			1,410
	Tax attributed to investment partnerships		7,024		-			-
	Federal income tax credits		(4,249)		(3,517	)		(4,307	)
	Share-based payments		-		25			68
	Tax attributed to noncontrolling interests		(666)		(1,103	)		210
	Dividends received deduction		(2,647)		(963	)		(161	)
	Other			29			(94		)
	Other		1,046	29			(94		)
	Total income taxes		$ 74,289	$ 6,453			13,867
Schedule of Unrecognized Tax Benefits	'

	29-Sep-10		$ 1,235
	Gross increases – current period tax positions		178
	Gross increases – prior period tax positions		238
	Lapse of statute of limitations		-171
	28-Sep-11		1,480
	Gross increases – current period tax positions		109
	Lapse of statute of limitations		-843
	26-Sep-12		746
	Gross increases – current period tax positions		25
	Gross decreases- prior period tax positions		-6
	Lapse of statute of limitations		-62
	25-Sep-13		$703
Schedule of Deferred Tax Assets and Liabilities	'
			2013	2012
	Deferred tax assets:
	Insurance reserves		$ 2,938	$	2,673
	Share-based payments		13		13
	Compensation accruals		1,952		1,968
	Gift card accruals				596
	Gift card accruals		942		596
	Net operating loss credit carryforward		60		60
	Other		2,027	2,516
	Total deferred tax assets		7,932	7,826

	Deferred tax liabilities:
	Investments		91,405		27,274
	Fixed asset basis difference		3,187		5,436
	Goodwill and intangibles		3,376		3,158
	Total deferred tax liabilities		97,968	35,868
	Net deferred tax liability		(90,036)	(28,042)
	Less current portion		(5,511)	-19,367
	Long-term liability		$(84,525)	$ (8,675)

Note_15_Leased_Assets_and_Leas1

Note 15. Leased Assets and Lease Commitments (Tables)	12 Months Ended
Note 15. Leased Assets and Lease Commitments (Tables)	Sep. 25, 2013
Note 15. Leased Assets And Lease Commitments Tables	'
Schedule of minimum future payment	'
								Operating Leases

	Year	Finance Obligations		Capital Leases		Total		Operating Property		Non-Operating
	Year	Finance Obligations		Capital Leases		Total		Operating Property		Property
	2014	$	15,279	$	681	$	15,960	$	14,649	$	461
	2015		14,576		673		15,249		13,812		412
	2016		12,997		487		13,484		12,400		414
	2017		10,367		300		10,667		11,072		581
	2018		8,147		233		8,380		10,269		795
	After 2018	14,168		—		14,168		52,814		7,114
	Total minimum future rental payments	75,534		2,374		77,908		$115,016		$ 9,777
	Less amount representing interest	43,546		249		43,795
	Total principal obligations under leases	31,988		2,125		34,113
	Less current portion	5,659		580		6,239
	Non-current principal obligations under leases	26,329		1,545		27,874
	Residual value at end of lease term	78,354		19		78,373
	Obligations under leases	$ 104,683		$ 1,564		$106,247

Note_18_Common_Stock_Plans_Tab

Note 18. Common Stock Plans (Tables)	12 Months Ended
Note 18. Common Stock Plans (Tables)	Sep. 25, 2013
Equity [Abstract]	'
Schedule of Stock Options Activity	'
		Options		Weighted		Weighted		Aggregate
				Average		Average		Intrinsic Value
				Exercise Price		Remaining
						Contractual Life
	Outstanding at September 26, 2012		10,036	$	275.89
	Exercised		-535		171.08
	Canceled or forfeited		-120		293.21
	Outstanding at September 25, 2013		9,381		281.64		3.39 years	$	1,252
	Vested or expected to vest at September 25, 2013		9,381		281.64		3.39 years	$	1,252
	Exercisable at September 25, 2013		9,281	$	282.52		3.42 years	$	1,248

Note_20_Fair_Value_of_Financia1

Note 20. Fair Value of Financial Assets and Liabilities (Tables)	12 Months Ended
	Sep. 25, 2013
Fair Value Disclosures [Abstract]	'
Schedule Of Fair Value Assets And Liabilities	'
		25-Sep-13				26-Sep-12

		Level 1	Level 2	Level 3	Total	Level 1		Level 2		Level 3		Total
	Assets
	Cash equivalents	$ —	—	—	$ —	$	14,286	$	—	$	—	$	14,286
	Equity securities:
	Restaurant/Retail	79,357	—	—	79,357		266,940		—		—		266,940
	Insurance	6,122	—	—	6,122		1,574						1,574
	Other	—	—	—	—		1,344		—		—		1,344
	Equity securities held by consolidated affiliated partnerships:
	Restaurant/Retail	—	—	—	—		11,156		—		—		11,156
	Other	—	—	—	—		1,805		—		—		1,805
	Non-qualified deferred compensation plan investments	1,169	—	—	1,169		888		—		—		888
	Investment held by consolidated affiliated partnership					—		—		190		190
	Investment held by consolidated affiliated partnership	—	—	—	—	—		—		190		190
	Total assets at fair value	$86,648	$ —	$ —	$86,648	$297,993		$ —		$ 190		$298,183

	Liabilities
	Interest rate swaps	—				—		351		—		351
	Interest rate swaps	—	401	—	401	—		351		—		351
	Total liabilities at fair value	$ —	$ 401	$ —	$ 401	$ —		$351		$ —		$351

Note_21_Business_Segment_Repor1

Note 21. Business Segment Reporting (Tables)	12 Months Ended
Note 21. Business Segment Reporting (Tables)	Sep. 25, 2013
Segment Reporting [Abstract]	'
Schedule Of Net Revenue by Segment	'

			Net Revenue
			2013		2012			2011
	Operating Business:
	Restaurant Operations:
	Steak n Shake		$737,090		$ 718,010			$689,325
	Western		14,829		15,895			16,078
	Total Restaurant Operations		751,919		733,905			705,403

	Investment Management:
	Management fees		—			—			224
	Consolidated affiliated partnerships		3,903		6,302			3,573
	Total Investment Management Operations		3,903		6,302			3,797
			$ 755,822		$ 740,207			$709,200

Schedule of reconciliation of segments earnings to consolidated	'
			Earnings before income taxes and noncontrolling interests									Net earnings attributable to Biglari Holdings Inc.
			2013		2012			2011				2013		2012		2011
	Operating Business:
	Restaurant Operations:
	Steak n Shake		$ 28,376		$ 45,622			$ 41,247				$ 21,023		$31,756		$ 29,367
	Western				2,157			2,455						1,354		1,610
	Western		511		2,157			2,455				338		1,354		1,610
	Total Restaurant Operations		28,887		47,779			43,702				21,361		33,110		30,977

	Investment Management:
	Biglari Capital Corp. (incentive fee)		21			36			2,510			13		22		1,535
	Management fees		—			—			224			—		—		139
	Consolidated affiliated partnerships		3,380		5,319			3,370				662		1,321		1,815
	Total Investment Management Operations		3,401		5,355			6,104				675		1,343		3,489

	Corporate and Other:
	Corporate and other		(12,070	)	(15,990		)	(4,624		)		(5,931	)	(9,196	)	(3,099	)
	Gains from investment partnerships		20,068		—			—				13,296		—		—
	Gain on contributions to investment partnerships		182,746		-			-				114,931		-		-
	Investment and derivative gains		1		4,200			7,970				1		2,604		4,941
	Total Corporate and Other		190,745		(11,790		)	3,346				122,297		(6,592	)	1,842

	Reconciliation of segments to consolidated amount:
	Eliminations including Gains from investment partnerships		(20,089	)	(36		)	(2,510		)		—		—		—
	Interest expense and loss on debt extinguishment, excluding interest allocated to operating businesses		(6,551		(10,110		)	(2,811		)		(4,062		(6,268	)	(1,743	)
			(6,551	)	(10,110		)	(2,811		)		(4,062	)	(6,268	)	(1,743	)
			$ 196,393		$ 31,198			$ 47,831				$ 140,271		$ 21,593		$ 34,565
Schedule of consolidated capital expenditure, depreciation, and amortization captions	'
			Capital Expenditures								Depreciation and Amortization
			2013		2012			2011			2013		2012		2011
	Reportable segments:
	Restaurant Operations:
	Steak n Shake		$ 6,337		$ 7,513			$	11,092		$24,230		$25,432		$27,279
	Western		64		58				18		693		729		785
	Investment Management		-			—			—		—		—		27
	Corporate and other		7,766		1,104			1,908			327		263		270
	Consolidated Results		$ 14,167		$ 8,675			$13,018			$25,250		$26,424		$28,361

Reconciliation of Assets from Segment to Consolidated	'
		Goodwill					Identifiable Assets
		2013		2012			2013		2012
	Reportable segments:
	Restaurant Operations
	Steak n Shake	$ 15,225		$14,503			$504,589		$ 433,382
	Western	13,026		13,026			5,298		7,526
	Investment Management	—			—		277			26,348
	Corporate and other	—			—		450,148			279,002
	Consolidated results	$ 28,251		$ 7,529					$ 746,258

							$960,292
	Reconciliation of segments to consolidated amount:
	Goodwill						28,251		27,529
	Total assets						$988,543		$ 773,787

Note_22_Quarterly_Financial_Da1

Note 22. Quarterly Financial Data (Tables)	12 Months Ended
Note 22. Quarterly Financial Data (Tables)	Sep. 25, 2013
Quarterly Financial Information Disclosure [Abstract]	'
Schedule of Quarterly Financial Information	'
				1st		2nd		3rd		4th
				Quarter		Quarter		Quarter (3)		Quarter (3)
	For the year ended September 25, 2013 (52 weeks) ⁽¹⁾
	Total net revenues		$	166,511	$	225,210	$	184,602	$	179,499
	Gross profit ⁽²⁾			38,425		48,523		41,927		41,240
	Costs and expenses			159,181		220,606		178,137		177,164
	Earnings before income taxes			5,930		1,420		169,834		19,209
	Net earnings attributable to Biglari Holdings Inc.⁽⁵⁾			4,562		2,180		106,704		26,825
	Basic earnings per common share ⁽⁴⁾		$	3.18	$	1.52	$	74.57	$	18.85
	Diluted earnings per common share ⁽⁴⁾		$	3.18	$	1.51	$	74.4	$	18.82

	For the year ended September 26, 2012 (52 weeks) ⁽¹⁾
	Total net revenues		$	166,390	$	223,684	$	175,773	$	174,360
	Gross profit ⁽²⁾			42,129		52,279		40,990		41,217
	Costs and expenses			151,678		211,536		167,884		165,928
	Earnings before income taxes			14,753		7,667		4,986		3,792
	Net earnings attributable to Biglari Holdings Inc.			8,795		4,528		4,853		3,417
	Basic earnings per common share		$	6.13	$	3.15	$	3.38	$	2.38
	Diluted earnings per common share		$	6.11	$	3.15	$	3.37	$	2.38

	-1	Our fiscal year includes quarters consisting of 12, 16, 12 and 12 weeks, respectively.
	-2	We define Gross profit as Net sales less Cost of sales and Restaurant operating costs, which excludes Depreciation and amortization.
	-3	We recorded pre-tax Gain on contribution to investment partnerships of $162,869 in the 3^rd quarter and $19,877 in the 4^thquarter.
	-4	Earnings per share of common stock is based on the weighted average number of shares outstanding during the year. In fiscal year 2013 the Company completed a rights offering in which 286,767 new shares of common stock were issued. The theoretical earnings per share have been retroactively restated for all years to give effect to the rights offering.
	-5	Net earnings attributable to Biglari Holdings Inc. for the fourth quarter 2013 includes $20,068 ($13,296 net of tax) of Gains from investment partnerships.

Note_1_Schedule_of_Earnings_Pe

Note 1. Schedule of Earnings Per Share Reconciliation (Details) (Consolidated)	12 Months Ended
	Sep. 25, 2013	Sep. 26, 2012	Sep. 28, 2011
Consolidated	'	'	'
Basic earnings per share:	'	'	'
Weighted average common shares, basic	1,429,684	1,437,321	1,432,728
Diluted earnings per share:	'	'	'
Weighted average common shares, diluted	1,429,684	1,437,321	1,432,728
Dilutive effect of stock awards	3,053	3,513	7,487
Weighted average common and incremental shares	1,432,737	1,440,834	1,440,215
Number of share - based awards excluded from the calculation of earnings per share as the awards' exercise prices were greater than the average market price of the Company's common stock	705	705	705

Note_1_Summary_of_Significant_3

Note 1. Summary of Significant Accounting Policies (Details Narrative) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Sep. 25, 2013	Sep. 26, 2012	Sep. 28, 2011
Note 1. Summary Of Significant Accounting Policies Details Narrative	'	'	'
401(k) Discretionary matching contributions	$207	$213	$271

Note_3_Impairment_and_Restaura1

Note 3. Impairment and Restaurant Closings (Details Narrative) (Consolidated, USD $)	12 Months Ended
In Thousands, unless otherwise specified	Sep. 25, 2013	Sep. 26, 2012	Sep. 28, 2011
Consolidated	'	'	'
Asset impairments and provision for restaurant closings	$1,666	$901	$1,032
Restaurant closing costs	$72	$0	$0

Note_4_Schedule_of_fair_value_

Note 4. Schedule of fair value of Investments (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Sep. 25, 2013	Sep. 26, 2012
Notes to Financial Statements	'	'
Cost	$50,884	$199,057
Gross unrealized gains	34,595	71,416
Gross unrealized losses	0	-615
Fair value	$85,479	$269,858

Note_4_Schedule_of_investment_

Note 4. Schedule of investment gains/losses (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Sep. 25, 2013	Sep. 26, 2012	Sep. 28, 2011
Notes to Financial Statements	'	'	'
Gross realized gains on sales	$1	$4,584	$7,775
Gross realized losses on sales	0	-384	-415
Total realized gains/losses	$1	$4,200	$7,360

Note_4_Investments_Details_Nar

Note 4. Investments (Details Narrative) (Consolidated, USD $)	12 Months Ended
In Thousands, unless otherwise specified	Sep. 25, 2013	Sep. 26, 2012	Sep. 28, 2011
Consolidated	'	'	'
Derivative and short sale gains/losses	$0	$0	$610
Contribution for equity method investments	377,636	'	'
Investments	85,479	269,858	'
Gain on contributions to investment partnerships	182,746	0	0
Other than temporary impairments on investments	$570	$0	$0

Note_5_Equity_in_Investment_Pa2

Note 5. Equity in Investment Partnerships (Details) (Consolidated, USD $)	12 Months Ended
In Thousands, unless otherwise specified	Sep. 25, 2013	Jun. 30, 2013	Sep. 26, 2012
Consolidated	'	'	'
Fair value of partnership interest	$455,297	$54,608	'
Contribution to investment partnership	377,636	'	'
Gains from investment partnerships from July 1 through September 25, 2013	23,053	'	'
Gains from appreciation of Biglari Holdings stock held by investment partnerships	-2,985	'	'
Proportionate share of Company stock held by investment partnerships	-54,613	'	'
Carrying value of partnership interests at September 25, 2013	$397,699	'	$0

Note_5_Equity_in_Investment_Pa3

Note 5. Equity in Investment Partnerships (Details 1) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Sep. 25, 2013
Lion Fund	'
Current and Total Assets	$126,121
Current and Total Liabilities	83
Revenue for the 3 month period ending September 30, 2013	9,200
Earnings for the 3 month period ending September 30, 2013	9,170
Biglari Holding's Ownership Interest	52.14%
Lion Fund II	'
Current and Total Assets	408,883
Current and Total Liabilities	11
Revenue for the 3 month period ending September 30, 2013	25,109
Earnings for the 3 month period ending September 30, 2013	$25,098
Biglari Holding's Ownership Interest	96.28%

Note_5_Equity_in_Investment_Pa4

Note 5. Equity in Investment Partnerships (Details Narrative) (Consolidated, USD $)	12 Months Ended
In Thousands, unless otherwise specified	Sep. 25, 2013	Sep. 26, 2012	Sep. 28, 2011
Consolidated	'	'	'
Gains from investment partnerships	$20,068	$0	$0

Note_6_Schedule_of_Consolidate

Note 6. Schedule of Consolidated affiliated partnership (Details) (USD $)	Sep. 26, 2012
In Thousands, unless otherwise specified	Sep. 26, 2012
Equity securities:	'
Cost	$10,288
Fair value	$13,151

Note_6_Schedule_of_Investments

Note 6. Schedule of Investments Held by Consolidated Affiliated Partnerships (Details) (USD $)	Sep. 26, 2012
In Thousands, unless otherwise specified	Sep. 26, 2012
Fair value of equity securities	$13,151
Investments Held By Consolidated Affiliated Partnerships	'
Fair value of equity securities	13,151
Cash	12,115
Investments held by consolidated affiliated partnerships	$25,266

Note_6_Schedule_of_gainlosses_

Note 6. Schedule of gain/losses on affiliated partnership (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Sep. 25, 2013	Sep. 26, 2012	Sep. 28, 2011
Schedule of gain/losses on affiliated partnership	'	'	'
Gross unrealized gains	$3,746	$3,047	$1,317
Gross unrealized losses	-410	0	-1,547
Net realized gains/losses from sale	261	2,895	3,365
Total net unrealized and realized gains/losses	$3,597	$5,942	$3,135

Note_6_Schedule_of_redeemable_

Note 6. Schedule of redeemable noncontrolling interest (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Sep. 25, 2013	Sep. 26, 2012	Sep. 28, 2011
Notes to Financial Statements	'	'	'
Carrying value at beginning of period	$52,088	$45,252	$62,245
Contributions from noncontrolling interests	1,076	1,545	1,780
Distributions to noncontrolling interests	-2,302	-254	-17,499
Incentive fee	-21	-36	-2,510
Income allocation	1,922	3,188	1,909
Adjustment to redeemable noncontrolling interest to reflect maximum redemption value	4,810	2,393	-673
Adjustment to reflect deconsolidation of affiliated partnerships	-57,573	0	0
Carrying value at end of period	$0	$52,088	$45,252

Note_6_Consolidated_Affiliated2

Note 6. Consolidated Affiliated Partnerships (Details Narrative) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Sep. 25, 2013	Sep. 26, 2012	Sep. 28, 2011	Sep. 29, 2010
Note 6. Consolidated Affiliated Partnerships Details Narrative	'	'	'	'
Consolidated affiliated partnerships' holdings of the Company's common stock	'	$205,743	'	'
Company's initial investment in consolidated affiliated partnerships	'	'	'	35,697
Fair value of the Company's investment in consolidated affiliated partnerships	'	48,306	'	'
Redeemable noncontrolling interest	'	52,088	'	'
Incentive fee on a consolidated basis	-21	-36	-2,510	'
Distribution of funds from liquidation of consolidated affiliated partnerships	'	'	15,660	'
Non-cash distribution of funds from liquidation of consolidated affiliated partnerships	'	'	1,421	'
Adjustment to increase the redemption value based on unrealized gains on the Company's common stock held by the consolidated affiliated partnerships	'	$2,393	($673)	'

Note_7_Schedule_of_assets_held

Note 7. Schedule of assets held for sale (Details) (Consolidated, USD $)	Sep. 25, 2013	Sep. 26, 2012
In Thousands, unless otherwise specified	Sep. 25, 2013	Sep. 26, 2012
Consolidated	'	'
Land and buildings	$561	$2,050
Improvements	0	307
Total assets held for sale	$561	$2,357

Note_7_Schedule_of_assets_held1

Note 7. Schedule of assets held for sale in numbers (Details Narrative)	12 Months Ended
	Sep. 25, 2013	Sep. 26, 2012
Number of land parcels included in assets held for sale	2	2
Number of restaurants included in assets held for sale	'	3
Consolidated	'	'
Number of parcels of land sold during the period	2	2
Number of closed restaurants sold	3	1

Note_9_Schedule_of_Property_Pl

Note 9. Schedule of Property, Plant and Equipment (Details) (Consolidated, USD $)	Sep. 25, 2013	Sep. 26, 2012
In Thousands, unless otherwise specified	Sep. 25, 2013	Sep. 26, 2012
Consolidated	'	'
Land	$162,488	$162,685
Buildings	152,891	150,601
Land and leasehold improvements	155,962	155,702
Equipment	209,913	204,340
Construction in progress	5,538	2,605
Property and equipment, gross	686,792	675,933
Less accumulated depreciation and amortization	-340,645	-319,295
Property and equipment, net	$346,147	$356,638

Note_9_Property_and_Equipment_1

Note 9. Property and Equipment (Details Narrative) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Sep. 25, 2013	Sep. 26, 2012	Sep. 28, 2011
Note 9. Property And Equipment Details Narrative	'	'	'
Depreciation and amortization expense	$23,422	$24,290	$25,169

Note_10_Schedule_of_Goodwill_D

Note 10. Schedule of Goodwill (Details) (Consolidated, USD $)	12 Months Ended
In Thousands, unless otherwise specified	Sep. 25, 2013	Sep. 26, 2012
Consolidated	'	'
Balance at beginning of year	$27,529	$27,529
Acquisition of business and lease rights	722	0
Balance at end of year	$28,251	$27,529

Note_10_Schedule_Of_Intangible

Note 10. Schedule Of Intangible Assets (Details) (USD $)	Sep. 25, 2013	Sep. 26, 2012
In Thousands, unless otherwise specified	Sep. 25, 2013	Sep. 26, 2012
Gross carrying amount	$7,600	$7,600
Accumulated amortization	-3,786	-3,096
Net definite-lived intangible assets	3,814	4,504
Intangible assets with indefinite lives	3,907	1,744
Total intangible assets	7,721	6,248
Right to Operate	'	'
Gross carrying amount	1,480	1,480
Accumulated amortization	-1,353	-1,235
Net definite-lived intangible assets	127	245
Franchise Agreement	'	'
Gross carrying amount	5,310	5,310
Accumulated amortization	-1,859	-1,328
Net definite-lived intangible assets	3,451	3,982
Other	'	'
Gross carrying amount	810	810
Accumulated amortization	-574	-533
Net definite-lived intangible assets	236	277
Intangible assets with indefinite lives	'	'
Gross carrying amount	3,907	1,744
Intangible assets with indefinite lives	$3,907	$1,744

Note_10_Goodwill_and_Other_Int2

Note 10. Goodwill and Other Intangibles (Details Narrative) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Sep. 25, 2013	Sep. 26, 2012	Sep. 28, 2011
Note 10. Goodwill And Other Intangibles Details Narrative	'	'	'
Amortization expense	$690	$702	$742
Future amortization expense for each of the next five years	595	'	'
Estimated weighted average useful life of definite-lived intangible assets	'eight to twelve years	'	'
Impairment loss	$1,244	'	'

Note_12_Schedule_of_Accrued_Ex

Note 12. Schedule of Accrued Expenses (Details) (Consolidated, USD $)	Sep. 25, 2013	Sep. 26, 2012
In Thousands, unless otherwise specified	Sep. 25, 2013	Sep. 26, 2012
Consolidated	'	'
Salaries, wages, vacation, and severance	$22,379	$22,205
Taxes payable	12,986	13,067
Insurance accruals	8,629	7,971
Other	10,009	10,623
Total accrued expenses	$54,003	$53,866

Note_14_Schedule_of_Components

Note 14. Schedule of Components of Income Tax Expense (Details) (Consolidated, USD $)	12 Months Ended
In Thousands, unless otherwise specified	Sep. 25, 2013	Sep. 26, 2012	Sep. 28, 2011
Consolidated	'	'	'
Current:	'	'	'
Federal	$506	$7,275	$13,217
State	1,748	1,905	2,836
Deferred	72,035	-2,727	-2,186
Total income taxes	74,289	6,453	13,867
Reconciliation of effective income tax:	'	'	'
Tax at U.S. statutory rates (35%)	68,738	10,919	16,741
State income taxes, net of federal benefit	5,043	1,063	1,410
Tax attributed to investment partnerships	7,024	0	0
Federal income tax credits	-4,249	-3,517	-4,307
Share-based payments	0	25	68
Tax attributed to noncontrolling interests	-666	-1,103	210
Dividends received deduction	-2,647	-963	-161
Other	1,046	29	-94
Total income taxes	$74,289	$6,453	$13,867

Note_14_Schedule_of_Unrecogniz

Note 14. Schedule of Unrecognized Tax Benefits (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Sep. 25, 2013	Sep. 26, 2012	Sep. 28, 2011
Notes to Financial Statements	'	'	'
Unrecognized tax benefits, Beginning	$746	$1,480	$1,235
Gross increases - current period tax positions	25	109	178
Gross increases (decreases) - prior period tax positions	-6	0	238
Lapse of statute of limitations	-62	-843	-171
Unrecognized tax benefits, Ending	$703	$746	$1,480

Note_14_Schedule_of_Deferred_T

Note 14. Schedule of Deferred Tax Assets and Liabilities (Details) (USD $)	Sep. 25, 2013	Sep. 26, 2012
In Thousands, unless otherwise specified	Sep. 25, 2013	Sep. 26, 2012
Deferred tax assets:	'	'
Insurance reserves	$2,938	$2,673
Share-based payments	13	13
Compensation accruals	1,952	1,968
Gift card accruals	942	596
Net operating loss credit carryforward	60	60
Other	2,027	2,516
Total deferred tax assets	7,932	7,826
Deferred tax liabilities:	'	'
Investments	91,405	27,274
Fixed asset basis difference	3,187	5,436
Goodwill and intangibles	3,376	3,158
Total deferred tax liabilities	97,968	35,868
Net deferred tax liability	-90,036	-28,042
Less current portion	-5,511	-19,367
Long-term liability	($84,525)	($8,675)

Note_14_Income_Taxes_Details_N

Note 14. Income Taxes (Details Narrative) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Sep. 25, 2013	Sep. 26, 2012	Sep. 28, 2011	Sep. 29, 2010
Note 14. Income Taxes Details Narrative	'	'	'	'
Income taxes paid	$1,518	$16,802	$12,436	'
Income tax refunds	52	641	2,856	'
Unrecognized tax benefits	703	746	1,480	1,235
Unrecognized Tax Benefits that Would Impact Effective Tax Rate	803	'	'	'
Interest and penalties, unrecognized	100	'	'	'
Potential interest and penalties associated with uncertain tax positions	46	'	'	'
Possible decrease in unrecognized tax benefits	419	'	'	'
Income tax receivables	$1,662	$2,455	'	'

Note_15_Schedule_of_minimum_fu

Note 15. Schedule of minimum future payment (Details 1) (USD $)	Sep. 25, 2013
In Thousands, unless otherwise specified	Sep. 25, 2013
2014	$15,960
2015	15,249
2016	13,484
2017	10,667
2018	8,380
After 2018	14,168
Total minimum future rental payments	77,908
Less amount representing interest	43,795
Total principal obligations under leases	34,113
Less current portion	6,239
Non-current principal obligations under leases	27,874
Residual value at end of lease term	78,373
Obligations under leases	106,247
Financial Obligations	'
2014	15,279
2015	14,576
2016	12,997
2017	10,367
2018	8,147
After 2018	14,168
Total minimum future rental payments	75,534
Less amount representing interest	43,546
Total principal obligations under leases	31,988
Less current portion	5,659
Non-current principal obligations under leases	26,329
Residual value at end of lease term	78,354
Obligations under leases	104,683
Capital Leases	'
2014	681
2015	673
2016	487
2017	300
2018	233
After 2018	0
Total minimum future rental payments	2,374
Less amount representing interest	249
Total principal obligations under leases	2,125
Less current portion	580
Non-current principal obligations under leases	1,545
Residual value at end of lease term	19
Obligations under leases	$1,564

Note_15_Schedule_of_minimum_fu1

Note 15. Schedule of minimum future payment (Details 2) (USD $)	Sep. 25, 2013
In Thousands, unless otherwise specified	Sep. 25, 2013
Operating Property	'
2014	$14,649
2015	13,812
2016	12,400
2017	11,072
2018	10,269
After 2018	52,814
Total minimum future rental payments	115,016
Non-Operating Property	'
2014	461
2015	412
2016	414
2017	581
2018	795
After 2018	7,114
Total minimum future rental payments	$9,777

Note_15_Leased_Assets_and_Leas2

Note 15. Leased Assets and Lease Commitments (Details Narrative) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Sep. 25, 2013	Sep. 26, 2012	Sep. 28, 2011
Capital Leased assets - accumulated depreciation	$66,108	'	'
Operating lease receivables under non-cancelable subleases	9,567	'	'
Contingent rent	1,356	1,173	967
Building	'	'	'
Capital Leased assets - gross	72,941	'	'
Land	'	'	'
Capital Leased assets - gross	61,663	'	'
Land and leasehold improvements	'	'	'
Capital Leased assets - gross	29,506	'	'
Equipment	'	'	'
Capital Leased assets - gross	$2,600	'	'

Note_16_Borrowings_Details_Nar

Note 16. Borrowings (Details Narrative) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Sep. 25, 2013	Sep. 26, 2012	Sep. 28, 2011
Note 16. Borrowings Details Narrative	'	'	'
Term Loan	'	$130,000	'
Debt issuance costs (deferred financing charge)	'	1,961	3,174
Letters of credit outstanding	6,588	4,781	'
Fair value of interest rate swap	401	351	'
Expected principal payments in 2014	9,750	'	'
Expected principal payments in 2015	13,000	'	'
Expected principal payments in 2016	13,000	'	'
Expected principal payments in 2017	84,500	'	'
Total Expected principal payments	120,250	'	'
Interest paid on debt	4,950	7,359	2,947
Interest paid on obligations under leases	$9,829	$10,073	$10,565

Note_17_Related_Party_Transact1

Note 17. Related Party Transactions (Details Narrative) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Sep. 25, 2013	Sep. 26, 2012	Sep. 28, 2011
Lion Fund	'	'	'
Adjusted capital balance that was distributed to BH	$5,721	'	'
Consolidated	'	'	'
Proceeds from sale of Biglari Capital	1,700	'	'
Gain on sale of Biglari Capital Corp	$1,597	$0	$0

Note_18_Schedule_of_Stock_Opti

Note 18. Schedule of Stock Options Activity (Details) (USD $)	12 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 25, 2013
Notes to Financial Statements	'
Options Outstanding, Beginning	10,036
Number of Options Exercised	-535
Canceled or forfeited	-120
Options Outstanding, Ending	9,381
Options Vested or expected to vest, Ending	9,381
Options Exercisable, Ending	9,281
Weighted Average Exercise Price Outstanding, Beginning	$275.89
Weighted Average Exercise Price Exercised	$171.08
Weighted Average Exercise Price Cancelled or Forfeited	$293.21
Weighted Average Exercise Price Outstanding, Ending	$281.64
Weighted Average Exercise Price Options Vested or expected to vest, Ending	$281.64
Weighted Average Exercise Price Exercisable, Ending	$282.52
Weighted Average Remaining Contractual Life, Options Outstanding, Ending	'3 years 4 months 20 days
Weighted Average Remaining Contractual Life, Options Vested or expected to vest	'3 years 4 months 20 days
Weighted Average Remaining Contractual Life (in years) Exercisable	'3 years 5 months 1 day
Aggregate Intrinsic Value Options Outstanding, Ending	$1,252
Aggregate Intrinsic Value Options Vested or expected to vest, Ending	1,252
Aggregate Intrinsic Value Exercisable, Ending	$1,248

Note_18_Common_Stock_Plans_Det

Note 18. Common Stock Plans (Details Narrative) (USD $)	12 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 25, 2013	Sep. 26, 2012	Sep. 28, 2011
Note 18. Common Stock Plans Details Narrative	'	'	'
Authorized grants of stock-based awards	45,000	'	'
Maximum shares that may be issued as restricted stock	35,000	'	'
Shares reserved for future grants	0	'	'
Number of shares vested under 2008 Plan	11,660	'	'
Total fair value of shares vested	$0	$0	$657
Restricted stock plan expense	0	0	51
Restricted stock plan expense, net of tax	0	0	32
Stock option plan expense	0	75	218
Stock option plan expense, net of tax	0	74	210
Intrinsic value of options exercised	133	235	693
Unrecognized stock option compensation cost	$0	'	'

Note_20_Schedule_Of_Fair_Value

Note 20. Schedule Of Fair Value Assets And Liabilities (Details) (USD $)	Sep. 25, 2013	Sep. 26, 2012
In Thousands, unless otherwise specified	Sep. 25, 2013	Sep. 26, 2012
Equity Securities	'	'
Fair value	$85,479	$269,858
Equity Securities Held by Consolidated Affiliated Partnerships	'	'
Fair value Securities Held by Consolidated Affiliated Partnerships	'	12,961
Other Assets	'	'
Non-qualified Deferred Compensation Plan Investments	1,169	888
Cash equivalents	'	14,286
Investments held by consolidated affiliated partnerships	'	190
Total assets at fair value	86,648	298,183
Liabilities	'	'
Interest rate swaps	401	351
Total liabilities at fair value	401	351
Level 1	'	'
Equity Securities	'	'
Fair value	85,479	269,858
Equity Securities Held by Consolidated Affiliated Partnerships	'	'
Fair value Securities Held by Consolidated Affiliated Partnerships	'	12,961
Other Assets	'	'
Non-qualified Deferred Compensation Plan Investments	1,169	888
Cash equivalents	'	14,286
Total assets at fair value	86,648	297,993
Level 2	'	'
Liabilities	'	'
Interest rate swaps	401	351
Total liabilities at fair value	401	351
Level 3	'	'
Other Assets	'	'
Investments held by consolidated affiliated partnerships	'	190
Total assets at fair value	'	190
Resturant Retail \| Level 1	'	'
Equity Securities	'	'
Fair value	79,357	266,940
Equity Securities Held by Consolidated Affiliated Partnerships	'	'
Fair value Securities Held by Consolidated Affiliated Partnerships	'	11,156
Insurance \| Level 1	'	'
Equity Securities	'	'
Fair value	6,122	1,574
Others \| Level 1	'	'
Equity Securities	'	'
Fair value	'	1,344
Equity Securities Held by Consolidated Affiliated Partnerships	'	'
Fair value Securities Held by Consolidated Affiliated Partnerships	'	$1,805

Note_20_Fair_Value_of_Financia2

Note 20. Fair Value of Financial Assets and Liabilities (Details Narrative) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Sep. 25, 2013	Sep. 26, 2012	Sep. 28, 2011
Note 20. Fair Value Of Financial Assets And Liabilities Details Narrative	'	'	'
Impairments on long-lived assets	$1,666	$901	$1,032
Impairment of intangible asset	$1,244	$0	$0

Note_21_Schedule_Of_Net_Revenu

Note 21. Schedule Of Net Revenue by Segment (Details) (USD $)

3 Months Ended

4 Months Ended

12 Months Ended

In Thousands, unless otherwise specified

Sep. 25, 2013

Jul. 03, 2013

Dec. 19, 2012

Sep. 26, 2012

Jul. 04, 2012

Dec. 21, 2011

Apr. 10, 2013

Apr. 11, 2012

Sep. 25, 2013

Sep. 26, 2012

Sep. 28, 2011

Sep. 25, 2013

Sep. 26, 2012

Sep. 28, 2011

Sep. 25, 2013

Sep. 26, 2012

Sep. 28, 2011

Sep. 25, 2013

Sep. 26, 2012

Sep. 28, 2011

Sep. 25, 2013

Sep. 26, 2012

Sep. 28, 2011

Sep. 25, 2013

Sep. 26, 2012

Sep. 28, 2011

Sep. 25, 2013

Sep. 26, 2012

Sep. 28, 2011

Steak n Shake

Western

Total Restaurant Operations

Management fees

Consolidated affiliated partnerships

Total Investment Management Operations

Total Revenue

Net Revenue

$179,499

$184,602

$166,511

$174,360

$175,773

$166,390

$225,210

$223,684

$737,090

$718,010

$689,325

$14,829

$15,895

$16,078

$751,919

$733,905

$705,403

$224

$3,903

$6,302

$3,573

$3,903

$6,302

$3,797

$755,822

$740,207

$709,200

Note_21_Schedule_of_reconcilia

Note 21. Schedule of reconciliation of segments (Details) (USD $)	3 Months Ended						4 Months Ended		12 Months Ended
In Thousands, unless otherwise specified	Sep. 25, 2013	Jul. 03, 2013	Dec. 19, 2012	Sep. 26, 2012	Jul. 04, 2012	Dec. 21, 2011	Apr. 10, 2013	Apr. 11, 2012	Sep. 25, 2013	Sep. 26, 2012	Sep. 28, 2011
Earnings before income taxes	$19,209	$169,834	$5,930	$3,792	$4,986	$14,753	$1,420	$7,667	'	'	'
Net earnings attributable to Biglari Holdings Inc.	26,825	106,704	4,562	3,417	4,853	8,795	2,180	4,528	140,271	21,593	34,565
Consolidated	'	'	'	'	'	'	'	'	'	'	'
Earnings before income taxes	'	'	'	'	'	'	'	'	196,393	31,198	47,831
Net earnings attributable to Biglari Holdings Inc.	'	'	'	'	'	'	'	'	140,271	21,593	34,565
Restaurant Operations \| Steak n Shake	'	'	'	'	'	'	'	'	'	'	'
Earnings before income taxes	'	'	'	'	'	'	'	'	28,376	45,622	41,247
Net earnings attributable to Biglari Holdings Inc.	'	'	'	'	'	'	'	'	21,023	31,756	29,367
Restaurant Operations \| Western	'	'	'	'	'	'	'	'	'	'	'
Earnings before income taxes	'	'	'	'	'	'	'	'	511	2,157	2,455
Net earnings attributable to Biglari Holdings Inc.	'	'	'	'	'	'	'	'	338	1,354	1,610
Restaurant Operations \| Total Restaurant Operations	'	'	'	'	'	'	'	'	'	'	'
Earnings before income taxes	'	'	'	'	'	'	'	'	28,887	47,779	43,702
Net earnings attributable to Biglari Holdings Inc.	'	'	'	'	'	'	'	'	21,361	33,110	30,977
InvestmentManagement \| IncentiveFee	'	'	'	'	'	'	'	'	'	'	'
Earnings before income taxes	'	'	'	'	'	'	'	'	21	36	2,510
Net earnings attributable to Biglari Holdings Inc.	'	'	'	'	'	'	'	'	13	22	1,535
InvestmentManagement \| Management fees	'	'	'	'	'	'	'	'	'	'	'
Earnings before income taxes	'	'	'	'	'	'	'	'	0	0	224
Net earnings attributable to Biglari Holdings Inc.	'	'	'	'	'	'	'	'	0	0	139
InvestmentManagement \| Consolidated affiliated partnerships	'	'	'	'	'	'	'	'	'	'	'
Earnings before income taxes	'	'	'	'	'	'	'	'	3,380	5,319	3,370
Net earnings attributable to Biglari Holdings Inc.	'	'	'	'	'	'	'	'	662	1,321	1,815
InvestmentManagement \| Total Investment Management Operations	'	'	'	'	'	'	'	'	'	'	'
Earnings before income taxes	'	'	'	'	'	'	'	'	3,401	5,355	6,104
Net earnings attributable to Biglari Holdings Inc.	'	'	'	'	'	'	'	'	675	1,343	3,489
Corporate \| Corporate And Other	'	'	'	'	'	'	'	'	'	'	'
Earnings before income taxes	'	'	'	'	'	'	'	'	-12,070	-15,990	-4,624
Net earnings attributable to Biglari Holdings Inc.	'	'	'	'	'	'	'	'	-5,931	-9,196	-3,099
Corporate \| Gains from investment partnerships	'	'	'	'	'	'	'	'	'	'	'
Earnings before income taxes	'	'	'	'	'	'	'	'	20,068	0	0
Net earnings attributable to Biglari Holdings Inc.	'	'	'	'	'	'	'	'	13,296	0	0
Corporate \| Investment And Derivative Gains Losses	'	'	'	'	'	'	'	'	'	'	'
Earnings before income taxes	'	'	'	'	'	'	'	'	1	4,200	7,970
Net earnings attributable to Biglari Holdings Inc.	'	'	'	'	'	'	'	'	1	2,604	4,941
Corporate \| TotalCorporateAndOtherMember	'	'	'	'	'	'	'	'	'	'	'
Earnings before income taxes	'	'	'	'	'	'	'	'	190,745	-11,790	3,346
Net earnings attributable to Biglari Holdings Inc.	'	'	'	'	'	'	'	'	122,297	-6,592	1,842
Corporate \| Gain on contributions to investment partnerships	'	'	'	'	'	'	'	'	'	'	'
Earnings before income taxes	'	'	'	'	'	'	'	'	182,746	0	0
Net earnings attributable to Biglari Holdings Inc.	'	'	'	'	'	'	'	'	114,931	0	0
ReconciliationOfSegmentsMember \| ConsolidationEliminationsMember	'	'	'	'	'	'	'	'	'	'	'
Earnings before income taxes	'	'	'	'	'	'	'	'	-20,089	-36	-2,510
Net earnings attributable to Biglari Holdings Inc.	'	'	'	'	'	'	'	'	0	0	0
ReconciliationOfSegmentsMember \| InterestExpenseMember	'	'	'	'	'	'	'	'	'	'	'
Earnings before income taxes	'	'	'	'	'	'	'	'	-6,551	-10,110	-2,811
Net earnings attributable to Biglari Holdings Inc.	'	'	'	'	'	'	'	'	($4,062)	($6,268)	($1,743)

Note_21_Schedule_of_consolidat

Note 21. Schedule of consolidated capital expenditure, depreciation and amortization (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Sep. 25, 2013	Sep. 26, 2012	Sep. 28, 2011
Consolidated	'	'	'
Capital Expenditures	$14,167	$8,675	$13,018
Depreciation and Amortization	25,250	26,424	28,361
Restaurant Operations - SteakNShake	'	'	'
Capital Expenditures	6,337	7,513	11,092
Depreciation and Amortization	24,230	25,432	27,279
Restaurant Operations - Western	'	'	'
Capital Expenditures	64	58	18
Depreciation and Amortization	693	729	785
InvestmentManagement	'	'	'
Capital Expenditures	0	0	0
Depreciation and Amortization	0	0	27
Corporate And Other	'	'	'
Capital Expenditures	7,766	1,104	1,908
Depreciation and Amortization	$327	$263	$270

Note_21_Reconciliation_of_Asse

Note 21. Reconciliation of Assets from Segment to Consolidated (Details) (USD $)	Sep. 25, 2013	Sep. 26, 2012
In Thousands, unless otherwise specified	Sep. 25, 2013	Sep. 26, 2012
Identifiable Assets	$988,543	$773,787
Steak n Shake	'	'
Goodwill	15,225	14,503
Identifiable Assets	504,589	433,382
Western	'	'
Goodwill	13,026	13,026
Identifiable Assets	5,298	7,526
InvestmentManagement	'	'
Goodwill	0	0
Identifiable Assets	277	26,348
Corporate And Other	'	'
Goodwill	0	0
Identifiable Assets	450,148	279,002
Consolidated results	'	'
Goodwill	28,251	27,529
Identifiable Assets	960,292	746,258
ReconciliationOfSegmentsMember	'	'
Identifiable Assets	$28,251	$27,529

Note_22_Schedule_of_Quarterly_

Note 22. Schedule of Quarterly Financial Information (Details) (USD $)	3 Months Ended						4 Months Ended		12 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Sep. 25, 2013	Jul. 03, 2013	Dec. 19, 2012	Sep. 26, 2012	Jul. 04, 2012	Dec. 21, 2011	Apr. 10, 2013	Apr. 11, 2012	Sep. 25, 2013	Sep. 26, 2012	Sep. 28, 2011
Notes to Financial Statements	'	'	'	'	'	'	'	'	'	'	'
Total net revenues	$179,499	$184,602	$166,511	$174,360	$175,773	$166,390	$225,210	$223,684	'	'	'
Gross profit	41,240	41,927	38,425	41,217	40,990	42,129	48,523	52,279	'	'	'
Costs and expenses	177,164	178,137	159,181	165,928	167,884	151,678	220,606	211,536	'	'	'
Earnings before income taxes	19,209	169,834	5,930	3,792	4,986	14,753	1,420	7,667	'	'	'
Net earnings attributable to Biglari Holdings Inc.	$26,825	$106,704	$4,562	$3,417	$4,853	$8,795	$2,180	$4,528	$140,271	$21,593	$34,565
Basic earnings per common share	$18.85	$74.57	$3.18	$2.38	$3.38	$6.13	$1.52	$3.15	'	'	'
Diluted earnings per common share	$18.82	$74.40	$3.18	$2.38	$3.37	$6.11	$1.51	$3.15	'	'	'

Note_23_Supplemental_Disclosur1

Note 23. Supplemental Disclosures of Cash Flow Information (Details Narrative) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Sep. 25, 2013	Sep. 26, 2012	Sep. 28, 2011
Note 23. Supplemental Disclosures Of Cash Flow Information Details Narrative	'	'	'
Lease obligations	$2,311	'	'
Capital expenditures in Accounts payable	$1,043	$589	$741