What was the total value of Aplus's intangible assets, net, as of December 31, 2022?
Aplus Franchise · 2024 FDDAnswer from 2024 FDD Document
osts, by performing independent market research and analyses.
/s/ GRANT THORNTON LLP
We have served as the Partnership's auditor since 2015.
Dallas, Texas February 16, 2024
SUNOCO LP CONSOLIDATED BALANCE SHEETS
(Dollars in millions)
| December 31, 2023 | December 31, 2022 | |
|---|---|---|
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $ 29 | $ 82 |
| Accounts receivable, net | 856 | 890 |
| Accounts receivable from affiliates | 20 | 15 |
| Inventories, net | 889 | 821 |
| Other current assets | 133 | 175 |
| Total current assets | 1,927 | 1,983 |
| Property and equipment | 2,970 | 2,796 |
| Accumulated depreciation | (1,134) | (1,036) |
| Property and equipment, net | 1,836 | 1,760 |
| Other assets: | ||
| Operating lease right-of-use assets, net | 506 | 524 |
| Goodwill | 1,599 | 1,601 |
| Intangible assets, net | 544 | 588 |
| Other non-current assets | 290 | 245 |
| Investments in unconsolidated affiliates | 124 | 129 |
| Total assets | $ 6,826 | $ 6,830 |
| LIABILITIES AND EQUITY | ||
| Current liabilities: | ||
| Accounts payable | $ 828 | $ 966 |
| Accounts payable to affiliates | 170 | 109 |
| Accrued expenses and other current liabilities | 353 | 310 |
| Operating lease current liabilities | 22 | 21 |
| Total current liabilities | 1,373 | 1,406 |
| Operating lease non-current liabilities | 511 | 528 |
| Long-term debt, net | 3,580 | 3,571 |
| Advances from affiliates | 102 | 116 |
| Deferred tax liabilities | 166 | 156 |
| Other non-current liabilities | 116 | 111 |
| Total liabilities | 5,848 | 5,888 |
| Commitments and contingencies (Note 13) | ||
| Equity: | ||
| Limited partners: | ||
| Common unitholders (84,408,014 and 84,054,765 units issued and outstanding as of Dec |
Source: Item 22 — CONTRACTS (FDD page 68)
What This Means (2024 FDD)
According to Aplus's 2024 Franchise Disclosure Document, the value of intangible assets, net, was $588 million as of December 31, 2022. This figure represents the net book value of Aplus's intangible assets after accounting for amortization. Intangible assets are non-physical assets that have a useful life of more than one year, such as trademarks, customer relationships, and patents.
For a prospective Aplus franchisee, this information provides insight into the financial structure and asset composition of the company. A significant value in intangible assets suggests that Aplus relies heavily on its brand recognition, customer loyalty, and proprietary agreements. This can be a positive indicator, as it reflects the potential strength and competitive advantage of the Aplus brand in the market.
However, it's important for franchisees to understand how these intangible assets are valued and maintained. The value of intangible assets can fluctuate based on market conditions, brand reputation, and other factors. Franchisees should inquire about the specific types of intangible assets Aplus holds, how they contribute to the franchise system, and what measures Aplus takes to protect and enhance their value. Understanding the nature and stability of these assets can help franchisees assess the long-term viability and potential return on investment of an Aplus franchise.