As of December 31, 2023, has Bombs Away recognized any impairment loss for long-lived assets?

According to Bombs Away's 2024 Franchise Disclosure Document, the company reviews long-lived assets for impairment when events or circumstances suggest that the carrying value of those assets may not be fully recoverable. Impairment is indicated when the sum of the undiscounted estimated future cash flows expected from the asset's use is less than its carrying value. If impairment is present, the asset's carrying value is reduced to its fair value.

As of December 31, 2023, Bombs Away states that it did not recognize any impairment loss for long-lived assets. This means that, based on their assessment, the value of their long-lived assets was not deemed to be impaired as of that date, and no adjustment was made to reduce their book value.

For a prospective franchisee, this information provides insight into Bombs Away's asset management and financial reporting practices. The fact that no impairment loss was recognized suggests that the company believes its assets are maintaining their value and are expected to generate sufficient future cash flows. However, it's important to note that this is a snapshot in time, and future economic conditions or company-specific events could lead to a different assessment.