What was the reported net lease cost for Aplus in 2022?
Aplus Franchise · 2024 FDDAnswer from 2024 FDD Document
ional contingent or variable lease payments based on factors specific to the individual agreement. Variable lease payments we are typically responsible for include payment of real estate taxes, maintenance expenses and insurance.
The components of lease expense consisted of the following:
| Year Ended December 31, | |||||||
|---|---|---|---|---|---|---|---|
| Lease cost | 2023 | 2022 | |||||
| Classification | |||||||
| Operating lease costs: | |||||||
| Operating lease cost | Lease expense | $ | 51 $ | 49 | |||
| Finance lease costs: | |||||||
| Amortization of leased assets | Depreciation, amortizat |
Source: Item 22 — CONTRACTS (FDD page 68)
What This Means (2024 FDD)
According to Aplus's 2024 Franchise Disclosure Document, the reported net lease cost for the year ended December 31, 2022, was $24.
This figure represents the overall cost to Aplus for leasing property, after accounting for factors like operating lease costs, finance lease costs, short-term lease costs, variable lease costs, and sublease income. It provides a summary of Aplus's total lease-related expenses for that year.
Prospective franchisees should consider this figure in the context of their own potential lease obligations. While this is a global figure for Aplus, individual franchise locations will have their own specific lease costs that may vary significantly depending on location, size, and other factors. Reviewing this information can help a franchisee understand how lease costs can impact the overall financial performance of an Aplus franchise.