Are the Consolidated Statements of Cash Flows for Budget audited?
Budget Franchise · 2025 FDDAnswer from 2025 FDD Document
2414 | 307-587-6066 | SOLOMON CRAMER | | 908 WEST BRUNDAGE LANE #103 | SHERIDAN | WY | 82801 | 307-673-1240 | SOLOMON CRAMER |
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ITEM 21 FINANCIAL STATEMENTS
Exhibit G includes the audited consolidated balance sheets of Avis Budget Group, Inc. as of December 31, 2024 and 2023, and the related consolidated statements of operations, stockholders' equity, comprehensive income and cash flows for the years ended December 31, 2024, 2023, and 2022 and the related notes of Avis Budget Group, Inc. Avis Budget Group, Inc. guarantees our performance of our obligations under the Budget License Agreements we enter into. The instrument of guaranty is included in Exhibit G. We file state specific guarantees of performance with the appropriate agencies in the states where our licenses are registered to be offered and sold.
EXHIBIT G
FINANCIAL STATEMENTS OF AVIS BUDGET GROUP, INC.
INDEX TO CONSOLIDATED FINANCIAL STATEMENTS
| Report of Independent Registered Public Accounting Firm (PCAOB ID No. 34) | 2 |
|---|---|
| Consolidated Statements of Operations for the Years Ended December 31, 2024, 2023 and 2022 | 6 |
| Consolidated Statements of Comprehensive Income for the Years Ended December 31, 2024, 2023 and 2022 | 7 |
| Consolidated Balance Sheets as of December 31, 2024 and 2023 | 8 |
| Consolidated Statements of Cash Flows for the Years Ended December 31, 2024, 2023 and 2022 | 9 |
| Consolidated Statements of Stockholders' Equity for the Years Ended December 31, 2024, 2023 and 2022 | 11 |
| Notes to Consolidated Financial Statements | 12 |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 79)
What This Means (2025 FDD)
According to Budget's 2025 Franchise Disclosure Document, the Consolidated Statements of Cash Flows are indeed audited. Exhibit G to the FDD includes the audited consolidated balance sheets of Avis Budget Group, Inc. as of December 31, 2024, and 2023, along with the related consolidated statements of operations, stockholders' equity, comprehensive income, and cash flows for the years ended December 31, 2024, 2023, and 2022.
The audit was conducted by Deloitte & Touche LLP, an independent registered public accounting firm. Their report expresses an opinion that the financial statements present fairly the financial position of Avis Budget Group, Inc. as of December 31, 2024 and 2023, and the results of its operations and its cash flows for each of the three years in the period ended December 31, 2024, in conformity with accounting principles generally accepted in the United States of America.
The presence of an audit by a reputable firm like Deloitte & Touche LLP provides a level of assurance to potential Budget franchisees that the financial statements have been reviewed and verified according to established accounting standards. This can help franchisees make informed decisions about their investment. The report is dated February 14, 2025.