What was the loss (gain) on disposal of property and equipment and other for Bojangles as of December 31, 2023?
Bojangles Franchise · 2025 FDDAnswer from 2025 FDD Document
| (dollars in thousands) | December 29, 2024 | December 31, 2023 | December 25, 2022 |
|---|---|---|---|
| Revenues | |||
| Company-operated restaurant revenues | $ 593,957 | $ 594,036 | $ 544,368 |
| Franchise royalty revenues | 47,116 | 42,204 | 39,311 |
| Property and equipment rental revenues | 9,609 | 8,939 | 9,955 |
| Other franchise revenues | 954 | 1,546 | 536 |
| Total revenues | 651,636 | 646,725 | 594,170 |
| Restaurant operating expenses | |||
| Company-operated restaurant food and packaging costs | 178,743 | 184,476 | 183,354 |
| Company-operated restaurant labor costs | 175,628 | 184,777 | 174,606 |
| Company-operated restaurant operating costs | 142,494 | 139,712 | 136,080 |
| Company-operated restaurant depreciation and amortization | 23,890 | 20,156 | 15,896 |
| Costs associated with property and equipment rentals | 9,462 | 7,193 | 8,543 |
| Total restaurant operating expenses | 530,217 | 536,314 | 518,479 |
| Operating income before other operating expenses | 121,419 | 110,411 | 75,691 |
| Other operating expenses | |||
| General and administrative | 20,832 | 18,163 | 18,057 |
| Depreciation and amortization | 36,107 | 36,109 | 36,138 |
| Restaurant closures and refranchising costs, net of gains | |||
| and related asset write-downs | 1,937 | 6,975 | 2,981 |
| Loss (gain) on disposal of property and equipment and other | 278 | (205) | 886 |
| Total other operating expenses | 59,154 | 61,042 | 58,062 |
| Operating income | 62,265 | 49,369 | 17,629 |
| Interest income | 2 | - | - |
| Interest expense | (258) | (138) | (162) |
| Net income | $ 62,009 | $ 49,231 | $ 17,467 |
Source: Item 22 — CONTRACTS (FDD page 82)
What This Means (2025 FDD)
According to Bojangles's 2025 Franchise Disclosure Document, the loss (gain) on the disposal of property and equipment and other was a gain of $205 thousand as of December 31, 2023. This figure is part of the broader financial data presented in the consolidated statements of cash flows. It reflects the net result of selling or otherwise disposing of assets like property and equipment.
For a prospective Bojangles franchisee, this specific figure provides limited insight on its own. However, it is more useful when viewed in the context of overall financial performance. Gains from disposals can provide a one-time boost to income, while losses can negatively impact profitability. Understanding the reasons behind these disposals and their impact on the company's financial health is important.
Franchisees should consider this information alongside other financial metrics to assess the financial stability and operational efficiency of Bojangles. Analyzing trends over several years, as presented in the table, can offer a more comprehensive understanding of how asset management impacts the company's financial results. It is also important to note that the amounts are in thousands, so the $205 figure represents $205,000.