What was the gross operating lease assets amount for Auntie Annes in the year with the value $92,013?

According to Auntie Annes's 2024 Franchise Disclosure Document, the gross operating lease assets for the fiscal year ended December 25, 2022, was $92,013. In the subsequent fiscal year, which ended December 31, 2023, the gross operating lease assets increased to $92,642.

Operating lease assets represent the value of Auntie Annes's right to use an asset for the lease term. These assets are primarily related to the leases the company holds for its store locations and equipment. The gross value represents the total cost of these assets before accounting for accumulated amortization, which is the systematic reduction of the asset's value over its useful life.

The accumulated amortization for these assets was $(16,227) as of December 25, 2022, and increased to $(23,107) by December 31, 2023. After deducting the accumulated amortization from the gross operating lease assets, the net operating lease assets were $75,786 in 2022 and $69,535 in 2023. This decrease in net value reflects the impact of amortization and any potential changes in the company's lease portfolio during those years.

Prospective franchisees should understand how Auntie Annes accounts for its leases, as this can impact the company's financial statements and key financial ratios. Reviewing the changes in gross and net operating lease assets, as well as the accumulated amortization, can provide insights into the company's leasing strategy and the financial implications of its lease obligations.