What was the total amount of accrued expenses and other liabilities for Auntie Annes as of December 31, 2023?
Auntie_Annes Franchise · 2024 FDDAnswer from 2024 FDD Document
required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control-related matters that we identified during the audit.
Atlanta, Georgia March 11, 2024
Consolidated balance sheets
(In thousands)
| December 31, 2023 | December 25, 2022 | |
|---|---|---|
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $ 22,662 | $ 31,196 |
| Restricted cash and cash equivalents - securitization | 29,582 | 27,456 |
| Accounts receivable, net of allowance for credit losses of | ||
| $1,143 and $1,383 in 2023 and 2022, respectively | 37,049 | 31,935 |
| Inventories | 978 | 1,116 |
| Prepaid expenses and other current assets | 9,263 | 8,720 |
| Advertising funds assets | 7,643 | 6,972 |
| Intercompany receivables from Parent | 3,277 | 3,277 |
| Total current assets | 110,454 | 110,672 |
| Property, equipment, leasehold improvements and land, net | 71,199 | 59,734 |
| Operating lease assets, net | 69,535 | 75,786 |
| Goodwill |
Source: Item 23 — RECEIPTS (FDD pages 106–366)
What This Means (2024 FDD)
According to Auntie Annes's 2024 Franchise Disclosure Document, as of December 31, 2023, the company's accrued expenses and other liabilities totaled $75,840. This figure represents short-term financial obligations that Auntie Annes had accumulated but not yet paid. These can include items like wages, utilities, and taxes.
For a prospective franchisee, understanding accrued expenses and other liabilities is crucial because it provides insight into the financial health and stability of Auntie Annes. A high number might indicate potential cash flow issues or poor financial management, while a lower number could suggest efficient handling of short-term obligations.
It's important to note that this figure is just one component of Auntie Annes's overall financial picture. A franchisee should also consider other liabilities, assets, and the overall financial performance of the company to get a comprehensive understanding of its financial standing. Reviewing these figures over multiple years, as presented in the table, can reveal trends and provide a more informed perspective.