What was the net amount of Goodwill for Benjamin Franklin Plumbing as of December 31, 2023?
Benjamin_Franklin_Plumbing Franchise · 2025 FDDAnswer from 2025 FDD Document
ficant accounting estimates made by management, as well as evaluate the overall presentation of the consolidated financial statements.
- x Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the Company's ability to continue as a going concern for a reasonable period of time.
We are 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.
April 2, 2025
Authority Brands Inc. and Subsidiaries Consolidated Balance Sheets (In thousands)
| | As of December 31, | | | | |--------------------------------------------------
Source: Item 22 — CONTRACTS (FDD pages 87–88)
What This Means (2025 FDD)
According to Benjamin Franklin Plumbing's 2025 Franchise Disclosure Document, the net goodwill as of December 31, 2023, was $414,349. Goodwill represents the intangible assets acquired in a business combination, such as brand reputation and customer relationships. This figure reflects the value of these assets after any amortization or impairment.
For a prospective Benjamin Franklin Plumbing franchisee, understanding the goodwill amount can provide insight into the overall financial health and valuation of the company. A higher goodwill figure may suggest a strong brand presence and market position. However, it's important to note that goodwill is subject to impairment, which could negatively impact the company's financial statements.
It's also worth noting that Benjamin Franklin Plumbing adopted a private company alternative accounting approach for goodwill starting January 1, 2023, amortizing it on a straight-line basis over ten years. This accounting method can affect how goodwill is reported and should be considered when evaluating the company's financial performance.