What were 360 Painting's depreciation and amortization expenses in 2023?
360_Painting Franchise · 2025 FDDAnswer from 2025 FDD Document
| Useful Life | 2024 | 2023 | |
|---|---|---|---|
| Office equipment | 3 – 5 years | $ 387,762 | $ 224,403 |
| Software for internal use | 1 – 2 years | 873,991 | 687,106 |
| Leasehold improvements | 5 years | 125,883 | 322,751 |
| Software in development | 153,594 | 53,917 | |
| Total property and equipment | 1,541,230 | 1,288,177 | |
| Less: Accumulated depreciation and amortization | (778,768) | (560,153) | |
| Property and equipment, net | $ 762,462 | $ 728,024 |
Depreciation and amortization expense related to property and equipment recognized in the consolidated statement of operations was $334,358 and $348,175 for the years en
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 56)
What This Means (2025 FDD)
According to 360 Painting's 2025 Franchise Disclosure Document, the depreciation and amortization expense related to property and equipment recognized in the consolidated statement of operations was $348,175 for the year ended December 2023.
Additionally, the amortization expense related to intangible assets was $1,323,392 for the year ended December 31, 2023.
In total, the depreciation and amortization expenses for 360 Painting in 2023 amounted to $1,671,567. This figure is the sum of depreciation and amortization related to property and equipment ($348,175) and amortization expense related to intangible assets ($1,323,392).