What was the value of buildings and improvements under operating leases for Aplus in 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 ass |
Source: Item 22 — CONTRACTS (FDD page 68)
What This Means (2024 FDD)
According to Aplus's 2024 Franchise Disclosure Document, the value of operating lease right-of-use assets, net, was $524 as of December 31, 2022. This figure represents the net value of Aplus's rights to use leased assets under operating leases.
For a prospective franchisee, this indicates the scale of Aplus's leasing activities and the financial obligations associated with those leases. It is important to note that this value is 'net', meaning it already accounts for accumulated amortization, which reflects the depreciation of the leased assets over time.
Understanding the lease obligations of a franchise system can be crucial for potential franchisees, as lease costs can significantly impact profitability. While this figure provides an overview of the operating lease assets, it does not detail the specific assets covered under these leases. Further due diligence would be required to understand the nature and terms of these leases.