What was the gain on disposal of property and equipment for Benjamin Franklin Plumbing in 2023?
Benjamin_Franklin_Plumbing Franchise · 2025 FDDAnswer from 2025 FDD Document
| | | | | | | | | ive | | | | | | | | | inc | | | | | | | | | r c | | | | | | | | | om | | | | | | | | | pre | | | | | | | | | ns | | | | | | | | | om | | | | | | | | | e | | | | | | | | | los Ne t s | - | - | | - | ( ) 5 9, 5 3 4 | - | ( ) 5 9, 5 3 4 | | Ba lan t D be r 3 1, 20 23 ce s a ec em | 1 | - | | 5 15 8 8 6 , | ( 4) 17 7, 6 8 | ( 1) | 3 3 8, 20 1 | | Sto k- ba d c ion at c se om pe ns | - | - | | 2, 9 22 | - | - | 2, 9 22 | | Ne los t s | - | - | | - | ( 10 4, 48 6 ) | - | ( 10 4, 48 6 ) | | Ba lan t D be r 3 1, 20 24 ce s a ec em | 1 | $ - | $ | 5 18 8 0 8 , | $ ( 28 2, 17 0 ) | $ ( 1) | $ 23 6, 6 37 |
Authority Brands Inc. and Subsidiaries Consolidated Statements of Cash Flows (In thousands)
| 2024 | 2023 | 2022 | |
|---|---|---|---|
| Cash flows from operating activities | |||
| Net loss | $ (104,486) | $ (59,534) | $ (35,630) |
| Adjustments to reconcile net loss to net cash provided by operating activities | |||
| Depreciation and amortization | 102,085 | 106,568 | 50,771 |
| Increase/(reduction) in inventory reserve | 60 | (42) | (39) |
| Bad debt expense | 3,577 | 3,123 | 1,637 |
| Stock-based compensation | 2,922 | 6,006 | 21,820 |
| Impairment loss | 23,240 | - | - |
| Loss on sale of retail | 11,276 | - | - |
| Gain on disposal of property and equipment | (497) | (391) | (305) |
| Amortization of deferred loan costs | 1,742 | 1,650 | 1,692 |
| Deferred taxes | (12,188) | (13,180) | (4,278) |
| Changes in assets and liabilities | |||
| Accounts receivable | (5,969) | (4,383) | (3,845) |
| Inventory | (759) | 589 | (843) |
| Prepaid expenses and other current assets | 2,841 | (3,088) | (2,326) |
| Other assets | (1,988) | (3,185) | (1,572) |
| Accounts payable | (3,177) | (1,484) | 1,815 |
| Accrued liabilities | 11,255 | (3,273) | (6,254) |
| Other liabilities | 3,774 | (127) | 138 |
| Deferred revenue | (514) | 162 | 3,365 |
| Operating lease right-of-use assets and operating lease liabilities, net | (201) | 290 | 145 |
| Net cash provided by operating activities | 32,993 | 29,701 | 26,291 |
| Cash flows from investing activities | |||
| Business acquisitions, net of cash acquired | - | (35,105) | (94,792) |
| Purchases of assets through asset acquisition | - | (325) | (1,570) |
| Purchases of property and equipment | (1,271) | (2,898) | (1,772) |
| Proceeds on disposal of property and equipment | 497 | 1,234 | 332 |
| Capitalized software development costs | (4,801) | (12,830) | (12,446) |
| Net cash used in investing activities |
Source: Item 22 — CONTRACTS (FDD pages 87–88)
What This Means (2025 FDD)
According to Benjamin Franklin Plumbing's 2025 Franchise Disclosure Document, the gain on disposal of property and equipment in 2023 was a negative $391. This figure is part of the cash flow statement, specifically within the cash flows from operating activities.
For a prospective franchisee, this indicates that Benjamin Franklin Plumbing experienced a slight loss from disposing of property and equipment during that year. While not a large amount, it reflects the company's financial transactions related to its assets.
It's important to note that this is just one line item in the overall financial picture. Franchisees should consider this in conjunction with other financial data to assess the company's overall financial health and stability. Analyzing trends over multiple years, as presented in the table, can provide a more comprehensive understanding of the company's financial performance.