Did Aplus record any impairments on indefinite-lived intangible assets in 2023?

According to Aplus's 2024 Franchise Disclosure Document, Aplus performed annual impairment tests on its indefinite-lived intangible assets during the fourth quarters of 2023, 2022, and 2021. The FDD states that Aplus did not record any impairments in 2023, 2022, and 2021.

For a prospective franchisee, this indicates that Aplus's intangible assets, such as tradenames and liquor licenses, have maintained their value and have not required any write-downs due to impairment. This could reflect positively on the stability and strength of the Aplus brand and its assets.

It's important to note that Aplus tests for impairment at least annually, or more frequently if events and circumstances indicate that the asset might be impaired. This means that while no impairments were recorded in the past three years, future economic changes or specific events could lead to impairments. The FDD also details that the company uses qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit exceeds its carrying amount, including goodwill. These factors include macroeconomic conditions, industry and market conditions, cost factors, overall financial performance, and the unit price of the Partnership.