What was the net income for Auntie Annes as of December 25, 2022?
Auntie_Annes Franchise · 2024 FDDAnswer from 2024 FDD Document
nd member's deficit | $ 882,596 | $ 876,517 |
Consolidated statements of operations
(In thousands)
| December 31, | December 25, | |
|---|---|---|
| For the fiscal years ended: | 2023 | 2022 |
| Revenues: | ||
| Franchise revenues | $ 337,446 | $ 303,672 |
| Company store, bakery and restaurant revenues | 114,936 | 108,736 |
| Franchise and other rental revenues | 9,352 | 11,598 |
| Advertising funds revenues | 91,042 | 82,346 |
| Total revenues | 552,776 | 506,352 |
| Expenses: | ||
| Company store, bakery and restaurant operations expenses | 97,434 | 92,920 |
| Selling, general and administrative expenses | 154,573 | 144,543 |
| Franchise and other rental expense | 8,473 | 10,803 |
| Share-based compensation expense | 4,983 | 4,645 |
| Advertising funds expenses | 90,012 | 83,652 |
| Depreciation and amortization expense | 15,940 | 10,139 |
| Other operating expense, net | 18,032 | 9,784 |
| Total expenses | 389,447 | 356,486 |
| Operating income | 163,329 | 149,866 |
| Interest expense, net | 74,911 | 54,736 |
| Other expense, net | 4,095 | 5,940 |
| Income before income tax expense | 84,323 | 89,190 |
| Income tax expense | 18,051 | 21,135 |
| Net income | $ 66,272 | $ 68,055 |
Consolidated statements of changes in member's deficit
(In thousands)
| Member's | |
|---|---|
| deficit | |
| Balance at December 26, 2021 | $ (139,199) |
| Cash proceeds retained from the exercise of Parent's stock options | 1,935 |
| Share-based compensation expense | 4,645 |
| Cash distribution paid to Parent's shareholders | (540,642) |
| Net income | 68,055 |
| Balance at December 25, 2022 | (605,206) |
| Cash proceeds retained from the exercise of Parent's stock options | 257 |
| Share-based compensation expense | 4,983 |
| Cash distribution paid to Parent's shareholders | (162,487) |
| Net income | 66,272 |
| Balance at December 31, 2023 | $ (696,181) |
Consolidated statements of cash flows
(In thousands)
| | 2023 | 2022 | |---|---|---| | Weighted-average remaining lease term (years) | 9.7 | 8.9 |
Notes to consolidated financial statements
(Dollars in thousands)
1 Nature of Operations and Summary of Significant Accounting Policies
Organization
GoTo Foods LLC ("GTFL", f/k/a Focus Brands LLC), a wholly owned subsidiary of GoTo Foods Holdings Inc.
Source: Item 23 — RECEIPTS (FDD pages 106–366)
What This Means (2024 FDD)
According to Auntie Anne's 2024 Franchise Disclosure Document, the net income as of December 25, 2022, was presented in two different tables. One table shows the consolidated financial performance, while the other details changes in the member's equity/deficit.
According to one table, Auntie Anne's net income for the fiscal year ended December 25, 2022, was $68,055. This figure is derived from the consolidated financial statements, reflecting the overall profitability of Auntie Anne's operations, after accounting for all revenues, expenses, and taxes.
In another table detailing the member's deficit, the net income for Auntie Anne's as of December 25, 2022, is listed as $68,055. This table provides a breakdown of changes in the member's deficit, factoring in cash proceeds, share-based compensation, and cash distributions to the Parent's shareholders. This net income figure contributes to the overall calculation of the member's deficit balance, which stood at ($605,206) as of the same date. Another table shows the net income as $208,711 with the member's equity at $277,647.