What was the total value of the assets acquired by Benjamin Franklin Plumbing in the Screenmobile acquisition?
Benjamin_Franklin_Plumbing Franchise · 2025 FDDAnswer from 2025 FDD Document
The purchase price was allocated to the assets acquired and liabilities assumed based on their estimated fair values as of the acquisition date. The excess of purchase price over the aggregate fair values was recorded as goodwill.
The purchase price was allocated to the assets acquired and liabilities assumed based on their estimated fair values as follows:
Assets acquired Current assets $ 443 Operating lease right-of-use assets 125 Goodwill 10,746 Intangible assets and other assets (1) 11,860 Assets acquired 23,174 Deferred tax liability (2,343) Operating lease liabilities (125) Deferred revenue (2,652) Other liabilities assumed (139) Purchase Price $ 17,915
Source: Item 22 — CONTRACTS (FDD pages 87–88)
What This Means (2025 FDD)
According to the 2025 FDD, Benjamin Franklin Plumbing's parent company acquired Screenmobile on February 8, 2023. The total value of the assets acquired in the Screenmobile acquisition was $23,174 (in thousands). This figure includes several specific asset types.
Specifically, the acquired assets included current assets valued at $443, operating lease right-of-use assets at $125, goodwill at $10,746, and intangible and other assets at $11,860 (all figures in thousands). The purchase price was allocated based on the estimated fair values as of the acquisition date, with any excess of the purchase price over the aggregate fair values recorded as goodwill.
It's important to note that the purchase price of $17,915 (in thousands) does not represent the total assets acquired. The purchase price is net of liabilities assumed, including deferred tax liability of $2,343, operating lease liabilities of $125, deferred revenue of $2,652 and other liabilities assumed of $139 (all figures in thousands). This comprehensive valuation approach is standard accounting practice when a company acquires another business, providing a clear picture of the acquired entity's financial position at the time of acquisition.