What was the total amount of current assets for Auntie Annes as of December 31, 2023?
Auntie_Annes Franchise · 2024 FDDAnswer from 2024 FDD Document
| 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 |
Source: Item 23 — RECEIPTS (FDD pages 106–366)
What This Means (2024 FDD)
According to Auntie Annes's 2024 Franchise Disclosure Document, the company's total current assets as of December 31, 2023, were $110,454. Current assets include cash and cash equivalents, restricted cash, accounts receivable, inventories, prepaid expenses, advertising fund assets, and intercompany receivables from the parent company.
Understanding the composition of current assets is crucial for prospective franchisees. These assets represent resources that Auntie Annes expects to convert into cash within one year, indicating the company's short-term financial health and liquidity. A substantial portion of these assets is tied to cash and receivables, reflecting the ongoing operations and sales activities of the franchise system.
Monitoring these figures over time, as well as comparing them against industry benchmarks, can provide valuable insights into Auntie Annes's financial management and operational efficiency. For instance, a high level of accounts receivable might suggest potential issues with collecting payments, while a low inventory level could indicate efficient supply chain management. Reviewing these assets in comparison to the prior year, where the total was $110,672, shows a slight decrease in total current assets.