Does the Aplus FDD include a statement of changes in equity for Sunoco LP?
Aplus Franchise · 2024 FDDAnswer from 2024 FDD Document
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
Board of Directors of Sunoco GP LLC and Unitholders of Sunoco LP
Opinion on the financial statements
We have audited the accompanying consolidated balance sheets of Sunoco LP (a Delaware limited partnership) and subsidiaries (the "Partnership") as of December 31, 2023 and 2022, the related consolidated statements of operations and comprehensive income, equity, and cash flows for each of the three years in the period ended December 31, 2023, and the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Partnership as of December 31, 2023 and 2022, and the results of its operations and its cash flows for each of the three years in the period ended December 31, 2023, in conformity with accounting principles generally accepted in the United States of America.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 68)
What This Means (2024 FDD)
According to the 2024 Aplus Franchise Disclosure Document, the consolidated financial statements of Sunoco LP include a consolidated statement of equity.
The FDD includes a report from an independent registered public accounting firm that audited the consolidated balance sheets of Sunoco LP and subsidiaries as of December 31, 2023, and 2022. The audit also covered the consolidated statements of operations and comprehensive income, equity, and cash flows for each of the three years in the period ended December 31, 2023, along with related notes. The accounting firm's opinion is that these financial statements fairly present the financial position of the Partnership as of December 31, 2023, and 2022, and the results of its operations and its cash flows for each of the three years in the period ended December 31, 2023, in conformity with accounting principles generally accepted in the United States of America.
Prospective Aplus franchisees can review these audited financial statements, including the statement of equity, to gain insight into the financial health and performance of Sunoco LP. This information can help franchisees assess the stability and reliability of Aplus's parent company. The inclusion of these statements and the independent audit opinion provides a level of assurance regarding the accuracy and completeness of the financial information presented.