What was the amount of Budget's other comprehensive income (loss) at the end of 2024?
Budget Franchise · 2025 FDDAnswer from 2025 FDD Document
noome (1855) attributable to Avis Budget Group, Inc. | * | (1,021) | 1,002 | 2,104 | | Earnings (loss) per share | | | | | | Basic | $ | (51.23) | $ 42.57 | $ 58,41 | | Diluted | $ | (51.23) | $ 42.08 | $ 57.16 |
Avis Budget Group, Inc. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (In millions)
| Year Ended December 31, | ||||
|---|---|---|---|---|
| 2024 | 2023 | 2022 | ||
| Net income (loss) | $ | (1,817) $ | 1,635 | $ 2,756 |
| Less: Net income (loss) attributable to non-controlling interests | 4 | 3 | (8) | |
| Net income (loss) attributable to Avis Budget Group, Inc. | (1,821) | 1,632 | 2,764 | |
| Other comprehensive income (loss), net of tax | ||||
| Currency translation adjustments: | (122) | 27 | (46) | |
| Currency translation adjustments, net of tax of $(19), $7 and $(11), respectively | (122) | 21 | (40) | |
| Cash flow hedges: | 15 | 5 | 57 | |
| Net unrealized holding gains (losses), net of tax of $(5), $(2), and $(20), respectively | (21) | (13) | 7 | |
| Reclassification of cash flow hedges to earnings, net of tax of $7, $5, and $(2), respectively | (21) | (.0) | • | |
| Minimum pension liability adjustment: | 10 | (18) | 11 | |
| Pension and post-retirement benefits, net of tax of $(4), $6, and $ |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 79)
What This Means (2025 FDD)
According to Budget's 2025 Franchise Disclosure Document, the other comprehensive income (loss) attributable to Avis Budget Group, Inc. for the year ending December 31, 2024, was a loss of $(114). This figure is a component of the total comprehensive income (loss) attributable to Avis Budget Group, Inc., which was a loss of $(1,935) for the same period.
Other comprehensive income (loss) includes items such as currency translation adjustments, net unrealized holding gains (losses) on cash flow hedges, and minimum pension liability adjustments. These items are recognized, net of tax, as a component of accumulated other comprehensive income (loss) within stockholders' equity.
For a prospective Budget franchisee, understanding these figures is crucial for assessing the overall financial health and performance of the parent company. While franchisees are not directly impacted by these specific accounting items, they reflect the financial stability and international operations of Budget, which can indirectly affect the brand's reputation and resources available for franchisee support.