What was the reported amount of cash and cash equivalents for Benjamin Franklin Plumbing in 2023?
Benjamin_Franklin_Plumbing Franchise · 2025 FDDAnswer from 2025 FDD Document
| 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 | (5,575) | (49,924) | (110,248) |
| Cash flows from financing activities | |||
| Distributions to parent | - | - | (21,135) |
| Capital contributions | - | 675 | - |
| Principal payments on finance lease obligations | (4,902) | (4,026) | (2,775) |
| Borrowings from long-term debt, net of deferred financing cost | 3,125 | 47,890 | 103,869 |
| Repayments of long-term debt | (4,250) | (11,250) | (7,525) |
| Net cash (used in)/provided by financing activities | (6,027) | 33,289 | 72,434 |
| Increase/(decrease) in cash and cash equivalents | 21,391 | 13,066 | (11,523) |
| Cash, restricted cash and cash equivalents | |||
| Beginning of year | 30,433 | 17,367 | 28,890 |
| End of year | $ 51,824 | $ 30,433 | $ 17,367 |
The accompanying notes are an in
Source: Item 22 — CONTRACTS (FDD pages 87–88)
What This Means (2025 FDD)
According to Benjamin Franklin Plumbing's 2025 Franchise Disclosure Document, the company's cash and cash equivalents totaled $27,119 in 2023. Additionally, the company held $3,314 in restricted cash in 2023. This brings the total cash, restricted cash, and cash equivalents to $30,433 for Benjamin Franklin Plumbing at the end of 2023.
It is important to note that the company considers all cash and highly liquid investments purchased with an initial maturity of three months or less to be cash or cash equivalents. The company maintains its cash in banks in which deposits may, from time to time, exceed federally insured limits.
Furthermore, the FDD provides a reconciliation of cash, restricted cash, and cash equivalents reported in the consolidated balance sheet, offering a clear picture of the company's cash position. This information is crucial for prospective franchisees to assess the financial health and stability of Benjamin Franklin Plumbing.