Are the Bhc financial statements consolidated?
Bhc Franchise · 2025 FDDAnswer from 2025 FDD Document
The Company is a wholly owned subsidiary of Dining Brands Group Co., Ltd. ( Dining Brands ), a Korea corporation. BHC USA was originally formed in the State of California on January 6, 2022. The Company s current business line is in licensing, franchising, and operating fast food restaurants under the name of bhc CHICKEN , as well as in retail distribution of food products through its subsidiaries. The Company owns 100% of BHC Farmers Market USA Inc ( BHC Farmers ) and BHC Chapman USA Inc both California corporations. The consolidated financial statements of BHC USA include BHC Farmers and BHC Chapman accordingly.
Consolidation Policy
The Consolidated Financial Statements include the financial statements of BHC USA and its wholly-owned subsidiaries: BHC Farmers and BHC Chapman. All significant intercompany balances and transactions have been eliminated in consolidation.
Source: Item 21 — Financial Statements (FDD page 52)
What This Means (2025 FDD)
According to Bhc's 2025 Franchise Disclosure Document, the financial statements are consolidated. The FDD includes audited consolidated financial statements for BHC USA LLC and its subsidiaries as of December 31, 2024. These consolidated statements encompass the balance sheet, related statements, cash flows, and accompanying notes.
The consolidated financial statements include the financial statements of BHC USA and its wholly-owned subsidiaries, BHC Farmers and BHC Chapman. All significant intercompany balances and transactions have been eliminated during the consolidation process. This means that the financial performance of these entities is combined to provide an overall view of Bhc's financial position.
An independent auditor, CHI & NAM LLP, has audited these consolidated financial statements, expressing an opinion that they fairly present the financial position of BHC USA LLC and its subsidiaries in accordance with accounting principles generally accepted in the United States of America. The auditor's report also confirms that their audit was conducted according to generally accepted auditing standards.