In Budget's financial statements, where are accounts payable and other current liabilities included?
Budget Franchise · 2025 FDDAnswer from 2025 FDD Document
s related to property and equipment included in accounts payable and other current liabilities and in other non-current liabilities of $18 million. and $6 million, respectively.
As of December 31,
12. Accounts Payable and Other Current Liabilities
Accounts payable and other current liabilities consisted of:
| Accounts payable and other current liabilities consisted of: | As of December 31, | |||
|---|---|---|---|---|
| 2024 | 2023 | |||
| $ | 628 | $ 576 | ||
| Short-term operating lease liabilities | • | 450 | 487 | |
| Accounts payable | 305 | 251 | ||
| Accrued sales and use taxes | 258 | 276 | ||
| Accrued advertising and marketing | 245 | 181 | ||
| Public liability and property damage insurance liabilities - current | 180 | 141 | ||
| Accrued interest (a) | 149 | 168 | ||
| Deferred lease revenues – current | 126 | 188 | ||
| Accrued payroll and related | 359 | 359 | ||
| Other (a) | 2.700 | $ 2.627 | ||
| Accounts payable and other current liabilities | 2,700 | 2,027 |
For the year ended December 31, 2023, we reclassified $141 million of accrued interest to conform to the current year presentation.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 79)
What This Means (2025 FDD)
According to Budget's 2025 Franchise Disclosure Document, accounts payable and other current liabilities are detailed in the Consolidated Balance Sheets. As of December 31, 2024, the total accounts payable and other current liabilities were $2,700 million, while on December 31, 2023, the amount was $2,627 million.
The components of accounts payable and other current liabilities include short-term operating lease liabilities, accounts payable, accrued sales and use taxes, accrued advertising and marketing, public liability and property damage insurance liabilities (current), accrued interest, deferred lease revenues (current), accrued payroll and related expenses, and other liabilities. These figures provide a snapshot of Budget's short-term financial obligations.
Additionally, the FDD notes that payables related to property and equipment are included within accounts payable and other current liabilities. Specifically, as of December 31, 2024, $10 million in payables related to property and equipment was included in this category. For the year ended December 31, 2024, Budget recorded an adjustment to self-insurance reserves for allocated loss adjustment expense, which is also included within accounts payable and other current liabilities.