What was the amount of cash and cash equivalents for Auntie Annes as of December 31, 2023?

According to Auntie Annes's 2024 Franchise Disclosure Document, the company's cash and cash equivalents totaled $22,662 as of December 31, 2023. This figure represents the amount of readily available funds Auntie Annes had at its disposal at the end of its fiscal year. In comparison, the cash and cash equivalents as of December 25, 2022, were $31,196.

Cash and cash equivalents are defined by Auntie Annes as highly liquid investments with original maturities of three months or less. These funds are primarily held on deposit with commercial banks and in money market mutual fund accounts. The FDD also mentions "restricted cash and cash equivalents," which are funds held by a trustee for the benefit of noteholders or pledged to the trustee, and cash collections related to securitized franchising or licensing activities held in special-purpose, bankruptcy-remote subsidiaries. These restricted funds are separate from the general cash and cash equivalents figure.

It's important to note that Auntie Annes places its cash and cash equivalents, including restricted cash, with high-credit-quality financial institutions or in money market funds that invest in U.S. Treasury bills and other government-backed obligations. The company states that it has not experienced any losses in these accounts, which suggests a conservative approach to managing its liquid assets. This detail can be reassuring for prospective franchisees, as it indicates a degree of financial stability and risk management on the part of the franchisor.