What was the lease income for Aplus in 2023?
Aplus Franchise · 2024 FDDAnswer from 2024 FDD Document
| $ 6,826 | $ 6,830 |
|---|
The accompanying notes are an integral part of these consolidated financial statements.
SUNOCO LP CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME
(Dollars in millions, except per unit data)
| Year Ended December 31, | |||||
|---|---|---|---|---|---|
| 2023 | 2022 | 2021 | |||
| REVENUES: | |||||
| Motor fuel sales | $ 22,525 | $ | 25,216 | $ | 17,152 |
| Non-motor fuel sales | 392 | 370 | 306 | ||
| Lease income | 151 | 143 | 138 | ||
| Total revenues | 23,068 | 25,729 | 17,596 | ||
| COST OF SALES AND OPERATING EXPENSES: | |||||
| Cost of sales | 21,703 | 24,350 | 16,246 | ||
| General and administrative | 126 | 120 | 109 | ||
| Other operating | 356 | 338 | 270 | ||
| Lease expense | 68 | 63 | 59 | ||
| Gain on disposal of assets | (7) | (13) | (14) | ||
| Depreciation, amortization and accretion | 187 | 193 | 177 | ||
| Total cost of sales and operating expenses | 22,433 | 25,051 | 16,847 | ||
| OPERATING INCOME | 635 | 678 | 749 | ||
| OTHER INCOME (EXPENSE): | |||||
| Interest expense, net | (217) | (182) | (163) | ||
| Other income, net | 7 | 1 | — | ||
| Equity in earnings of unconsolidated affiliates | 5 | 4 | 4 | ||
| Loss on extinguishment of debt | — | — | (36) | ||
| INCOME BEFORE INCOME TAXES | 430 | 501 | 554 | ||
| Income tax expense | 36 | 26 | 30 | ||
| NET INCOME AND COMPREHENSIVE INCOME | $ 394 | $ | 475 | $ | 524 |
| NET INCOME PER COMMON UNIT: | |||||
| Common units - basic | $ 3.70 | $ | 4.74 | $ | 5.35 |
| Common units - diluted | $ 3.65 | $ | 4.68 | $ | 5.28 |
| WEIGHTE |
Source: Item 22 — CONTRACTS (FDD page 68)
What This Means (2024 FDD)
According to Aplus's 2024 Franchise Disclosure Document, the total lease income for the company in 2023 was $151. This figure is broken down into two segments: Fuel Distribution and Marketing, which generated $139 in lease income, and All Other segments, which contributed $12.
For a prospective Aplus franchisee, understanding the lease income is important as it reflects revenue generated from leasing activities, potentially including subleasing or property rentals associated with Aplus locations. This income can offset operating expenses and contribute to the overall profitability of Aplus.
It's worth noting that the FDD also provides lease income figures for previous years, allowing potential franchisees to assess the trend and stability of this revenue stream. Specifically, lease income was $143 in 2022 and $138 in 2021, indicating a slight increase over the three-year period. This information can be useful in evaluating the financial performance and potential of Aplus.