What was the cash and cash equivalents balance for Aplus at the end of 2021?
Aplus Franchise · 2024 FDDAnswer from 2024 FDD Document
e | 394 | | Balance at December 31, 2023 | $ 978 | | | |
The accompanying notes are an integral part of these consolidated financial statements.
Year Ended December 31,
SUNOCO LP CONSOLIDATED STATEMENTS OF CASH FLOWS
(Dollars in millions)
| 2023 | 2022 | 2021 | |
|---|---|---|---|
| OPERATING ACTIVITIES: | |||
| Net income | $ 394 | $ 475 | $ 524 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation, amortization and accretion | 187 | 193 | 177 |
| Amortization of deferred financing fees | 8 | 7 | 7 |
| Gain on disposal of assets | (7) | (13) | (14) |
| Loss on extinguishment of debt | — | — | 36 |
| Non-cash unit-based compensation expense | 17 | 14 | 16 |
| Deferred income tax | 13 | 28 | 10 |
| Inventory adjustments | 114 | (5) | (190) |
| Equity in earnings of unconsolidated affiliates | (5) | (4) | (4) |
| Changes in operating assets and liabilities, net of acquisitions: | |||
| Accounts receivable | 34 | (312) | (231) |
| Receivables from affiliates | (5) | (3) | (1) |
| Inventories | (182) | (172) | 38 |
| Other assets | 47 | (94) | (95) |
| Accounts payable | (101) | 390 | 296 |
| Accounts payable to affiliates | 61 | 50 | (20) |
| Accrued expenses and other current liabilities | 43 | — | 9 |
| Other non-current liabilities | (18) | 7 | (15) |
| Net cash provided by operating activities | 600 | 561 | 543 |
| INVESTING ACTIVITIES: | |||
| Capital expenditures | (215) | (186) | (174) |
| Distributions from unconsolidated affiliates in excess of cumulative earnings | 9 | 8 | 9 |
| Cash paid for acquisitions, net of cash acquired | (111) | (318) | (256) |
| Proceeds from disposal of property and equipment | 31 | 32 | 34 |
| Other | (2) | — | — |
| Net cash used in investing activities | (288) | (464) | (387) |
| FINANCING ACTIVITIES: | |||
| Senior Notes borrowings | 500 | — | 800 |
| Senior Notes repayments | — | — | (1,252) |
| Credit Facility borrowings | 3,283 | 4,127 | 1,922 |
| Credit Facility repayments | (3,772) | (3,808) | (1,341) |
| Loan origination costs | (5) | — | — |
| Cash distribution to unitholders, including incentive distributions | (371) | (359) | (357) |
| Net cash used in financing activities | (365) | (40) | (228) |
| Net increase (decrease) in cash and cash equivalents | (53) | 57 | (72) |
| Cash and cash equivalents at beginning of period | 82 | 25 | 97 |
| Cash and cash equivalents at end of period | $ 29 | $ 82 | $ 25 |
| Year Ended December 31, | |||
| 2023 | 2022 | 2021 | |
| SUPPL |
Source: Item 22 — CONTRACTS (FDD page 68)
What This Means (2024 FDD)
According to Aplus's 2024 Franchise Disclosure Document, the cash and cash equivalents at the end of 2021 was $25. This figure represents the amount of readily available cash and assets that Aplus had on hand at the close of the fiscal year.
For a prospective franchisee, this number provides insight into Aplus's financial health and liquidity. A higher cash balance generally indicates a stronger ability to meet short-term obligations and invest in future growth. However, it is essential to consider this figure in conjunction with other financial metrics and industry benchmarks to get a comprehensive understanding of Aplus's financial position.
The cash and cash equivalents balance can fluctuate due to various factors, including operating activities, investing activities, and financing activities. Reviewing the changes in cash flow over multiple periods, as presented in the FDD, can offer a more detailed perspective on how Aplus manages its cash resources. Additionally, comparing Aplus's cash position to that of its competitors can provide valuable context for assessing its relative financial strength.