What was the accumulated amortization for Aplus other intangibles as of December 31, 2022?
Aplus Franchise · 2024 FDDAnswer from 2024 FDD Document
| December 31, 2023 | December 31, 2022 | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Carrying Amount | Accumulated Amortization | Net Book Value | Gross Carrying Amount | Accumulated Amortization | Net Book Value | |||||||
| Indefinite-lived | ||||||||||||
| Tradenames | $ | 302 | $ | — $ | 302 | $ | 302 | $ | — $ | 302 | ||
| Liquor licenses | 12 | — | 12 | 12 | — | 12 | ||||||
| Finite-lived | ||||||||||||
| Customer relations including supply | 669 | 440 | 229 | 669 | 396 | 273 | ||||||
| agreements | ||||||||||||
| Other intangibles | 8 | 7 | 1 | 8 | 7 | 1 | ||||||
| Intangible assets, net | $ | 991 | $ | 447 | $ | 544 | $ | 991 | $ | 403 | $ | 588 |
During the fourth quarters of 2023, 2022 and 2021, we performed the annual impairment tests on our indefinite-lived intangible assets. No impairments were recorded in 2023, 2022 and 2021.
Total amortization expense on fin
Source: Item 22 — CONTRACTS (FDD page 68)
What This Means (2024 FDD)
According to Aplus's 2024 Franchise Disclosure Document, the document provides details on amortization expenses and intangible assets, but it does not explicitly state the accumulated amortization for 'other' intangibles as of December 31, 2022. The document mentions that total amortization expense on finite-lived intangibles was $48 million for the year ended December 31, 2022. It also includes tables showing the balances of assets and liabilities as of December 31, 2023, and December 31, 2022, including 'Intangible assets, net' which was $588 million as of December 31, 2022.
While the FDD provides figures for total amortization expense and the net value of intangible assets, it does not break down the accumulated amortization for specific categories of intangibles. The document also notes that Aplus performed annual impairment tests on indefinite-lived intangible assets and recorded no impairments in 2022.
To get the specific figure for accumulated amortization of 'other' intangibles, a prospective Aplus franchisee should ask the franchisor directly for a detailed breakdown of intangible assets and their accumulated amortization. This information is essential for understanding the financial health and accounting practices of Aplus.