What were Budget's contributions to defined contribution savings plans in 2024?
Budget Franchise · 2025 FDDAnswer from 2025 FDD Document
Stock-Compensation Expense
During 2024, 2023 and 2022, we recorded stock-based compensation expense of $19 million ($14 million, net of tax), $30 million ($21 million, net of tax), and $25 million ($17 million, net of tax), respectively.
19. Employee Benefit Plans
Defined Contribution Savings Plans
We sponsor several defined contribution savings plans in the United States and certain foreign subsi
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 79)
What This Means (2025 FDD)
According to Budget's 2025 Franchise Disclosure Document, the company sponsors several defined contribution savings plans in the United States and certain foreign subsidiaries. These plans allow eligible employees to save for retirement, and Budget matches a portion of the employee contributions as specified by the plan documents.
In 2024, Budget's contributions to these defined contribution savings plans totaled $31 million. This is an increase from the $29 million contributed in 2023 and the $26 million contributed in 2022.
For a prospective franchisee, this information provides insight into Budget's employee benefits programs and the company's financial commitment to these programs. While franchisees are not employees, understanding the benefits offered to employees can provide a sense of the company's overall values and how it supports its workforce.