For Budget, what was the currency translation adjustment balance on January 1, 2022?
Budget Franchise · 2025 FDDAnswer from 2025 FDD Document
the OECD continues to refine its technical guidance and member states implement tax laws and regulations based on Pillar Two proposals. Pillar Two did not have a material impact on our Consolidated Financial Statements for 2024.
The following is a reconciliation of the gross amount of unrecognized tax benefits:
| The following is a reconciliation of the gross amount of unrecognized tax benefits. | 2024 | 2023 | 2022 |
|---|---|---|---|
| Balance, January 1 Additions for tax positions related to c |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 79)
What This Means (2025 FDD)
According to Budget's 2025 Franchise Disclosure Document, information regarding the currency translation adjustment balance as of January 1, 2022, is not explicitly provided. However, one table does show a reconciliation of gross unrecognized tax benefits, including foreign currency translation.
Specifically, the table provides the "Foreign currency translation Balance, December 31" for 2024 ($ 58), 2023 ($ 63), and 2022 ($ 53). This indicates the balance at the end of each of those years, not the balance at the beginning of the year.
To obtain the currency translation adjustment balance on January 1, 2022, a prospective Budget franchisee should ask the franchisor directly for this information. Understanding these currency adjustments can be important for assessing the overall financial health and international operations of Budget.