What was the total amount of Benjamin Franklin Plumbing's accounts payable 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, | ||||
|---|---|---|---|---|
| 2024 | 2023 | |||
| Assets | ||||
| Current assets | ||||
| Cash and cash equivalents | $ | 46,193 | $ | 27,119 |
| Restricted cash | 5,631 | 3,314 | ||
| Accounts receivable, net | 34,962 | 33,238 | ||
| Inventory, net | 7,201 | 6,548 | ||
| Prepaid expenses and other current assets | 9,227 | 12,575 | ||
| Total current assets | 103,214 | 82,794 | ||
| Property and equipment, net | 34,635 | 56,407 | ||
| Operating lease right-of-use assets | 13,787 | 15,144 | ||
| Intangible assets, net | 390,904 | 437,885 | ||
| Goodwill, net | 357,205 | 414,349 | ||
| Other assets | 15,968 | 14,422 | ||
| Total assets | $ | 915,713 | $ | 1,021,001 |
| Liabilities and Stockholder's Equity | ||||
| Current liabilities | ||||
| Accounts pay |
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 accounts payable as of December 31, 2023, was $9,980. This figure represents the total short-term obligations Benjamin Franklin Plumbing had to its suppliers and other creditors at that specific point in time. Accounts payable are a crucial indicator of a company's financial health and its ability to manage its short-term liabilities.
For a prospective Benjamin Franklin Plumbing franchisee, understanding the franchisor's accounts payable can offer insights into the financial stability of the company. A high accounts payable balance might suggest that the company is struggling to pay its bills on time, which could potentially impact the support and resources available to franchisees. Conversely, a well-managed accounts payable indicates financial prudence and reliability.
It's important to note that accounts payable is just one aspect of a company's overall financial picture. A prospective franchisee should also consider other factors such as revenue, profitability, and debt levels to get a comprehensive understanding of Benjamin Franklin Plumbing's financial health. Consulting with a financial advisor is recommended to properly assess the financial implications for the franchisee.