What was the amount of foreign income (loss) before income taxes for Budget in 2024?
Budget Franchise · 2025 FDDAnswer from 2025 FDD Document
| The provision for (benefit from) income taxes consists of the following: | 2024 | Year Ended December 31, 2023 | 2022 | |
|---|---|---|---|---|
| Current Federal State Foreign Current income tax provision | $ 14 11 70 95 | $ 45 43 88 | $ | 137 61 198 |
| Deferred Federal State Foreign Deferred income tax provision Provision for (benefit from) income taxes | $ (644) | 77 | $ | 622 |
| (211) | 47 | (22) | ||
| (50) | 67 | 82 | ||
| (905) |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 79)
What This Means (2025 FDD)
According to Budget's 2025 Franchise Disclosure Document, the foreign income (loss) before income taxes in 2024 was a loss of $(2,627). This figure is part of the broader income (loss) picture for Budget, which also includes income (loss) from the United States.
It's important to note that this is a pre-tax figure, meaning it doesn't account for any income taxes that Budget may have paid or received. The document also provides figures for 2023 and 2022, allowing for a comparison of Budget's financial performance over those three years. In 2023, the foreign income before income taxes was $1,914, and in 2022, it was $3,636.
For a prospective franchisee, this information offers insight into Budget's profitability in foreign markets. A significant loss in 2024, compared to profits in the previous two years, could signal potential challenges or changes in Budget's international operations. It would be prudent for potential franchisees to investigate the reasons behind this loss and understand Budget's strategies for improving its foreign income in the future.