What was the total value of Benjamin Franklin Plumbing's total assets as of December 31, 2024?
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 total assets as of December 31, 2024, were $915,713. This figure represents the sum of all current assets, property and equipment, operating lease right-of-use assets, intangible assets, goodwill, and other assets held by Benjamin Franklin Plumbing. In comparison, the total assets as of December 31, 2023, were $1,021,001, indicating a decrease in total assets from 2023 to 2024.
For a prospective franchisee, understanding the asset values of Benjamin Franklin Plumbing can provide insights into the financial stability and overall health of the company. A higher asset value generally suggests a stronger financial position. However, it's also important to consider the composition of these assets. For instance, a significant portion of the assets is in the form of intangible assets and goodwill, which are subject to valuation adjustments and potential impairments, as noted elsewhere in the FDD.
It is crucial for potential franchisees to review these figures in conjunction with the liabilities and equity sections of the balance sheet. The document indicates total liabilities of $679,076 and stockholder's equity of $236,637 as of December 31, 2024. Analyzing the relationship between assets, liabilities, and equity can offer a more comprehensive view of the company's financial leverage and solvency. Prospective franchisees should consult with a financial advisor to fully understand the implications of these financial statements.