What was the total value of Auntie Annes' assets in 2022?
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 |
| Property, equipment, leasehold improvements and land, net | 71,199 | 59,734 |
| Operating lease assets, net | 69,535 | 75,786 |
| Goodwill | 122,714 | 120,682 |
| Intangible assets, net | 495,389 | 496,111 |
| Long-term other assets | 13,305 | 13,532 |
| Total assets | $ 882,596 | $ 876,517 |
Source: Item 23 — RECEIPTS (FDD pages 106–366)
What This Means (2024 FDD)
According to Auntie Annes' 2024 Franchise Disclosure Document, the company's total assets as of December 25, 2022, were valued at $876,517. This figure represents the sum of all resources owned or controlled by Auntie Annes that have monetary value. These assets are categorized into several types, including current assets, property, equipment, leasehold improvements, land, operating lease assets, goodwill, intangible assets, and long-term other assets.
Within the current assets, the most significant components include cash and cash equivalents, which amounted to $31,196, and accounts receivable, net of allowance for credit losses, which stood at $31,935. Property, equipment, leasehold improvements, and land, net, were valued at $59,734, while operating lease assets, net, were $75,786. Goodwill, an intangible asset representing the excess of the purchase price over the fair value of identifiable net assets acquired in a business combination, was valued at $120,682. The largest asset category was intangible assets, net, which totaled $496,111.
Understanding the composition and valuation of Auntie Annes' assets is crucial for prospective franchisees as it provides insights into the financial health and stability of the company. A strong asset base can indicate the company's ability to meet its obligations, invest in growth, and support its franchisees. However, it is important to note that asset values can fluctuate due to various factors, such as market conditions, economic trends, and company performance. Therefore, prospective franchisees should conduct thorough due diligence and consult with financial advisors to assess the implications of these asset values for their investment decision.
It is also worth noting that the financial statements are consolidated, meaning they reflect the financial position of GoTo Foods Systems LLC and its subsidiaries, including Auntie Anne's Franchisor SPV LLC. This broader perspective can provide a more comprehensive understanding of the financial resources available to support the Auntie Annes franchise system.