When did the financial year end for the Budget financial statement provided?
Budget Franchise · 2025 FDDAnswer from 2025 FDD Document
We have audited the accompanying consolidated balance sheets of Avis Budget Group, Inc. and subsidiaries (the "Company") as of December 31, 2024 and 2023, the related consolidated statements of operations, comprehensive income, stockholders' equity, and cash flows for each of the three years in the period ended December 31, 2024, and the related notes and the schedule listed in the Index at Item 15 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company 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.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 79)
What This Means (2025 FDD)
According to Budget's 2025 Franchise Disclosure Document, the financial statements of Avis Budget Group, Inc. were audited for the years ending December 31, 2024, 2023, and 2022. This indicates that Budget's financial year concludes on December 31st. The consolidated balance sheets of Avis Budget Group, Inc. are presented as of December 31, 2024, and 2023.
For a prospective Budget franchisee, this is important because the financial performance of Budget is evaluated annually, concluding at the end of December. The provided financial statements offer a view of Budget's financial health over the past three years, all ending on this consistent date. This allows for year-over-year comparisons and trend analysis.
The consistency in the financial year-end date is a standard accounting practice, facilitating accurate and comparable financial reporting. Franchisees can use this information to assess the stability and growth of Budget over these periods. The audit was conducted by Deloitte & Touche LLP, an independent registered public accounting firm, ensuring an unbiased opinion on the fairness of the financial statements.
Understanding the financial year-end is crucial for interpreting the financial data presented in the FDD. Franchisees should review these statements carefully to understand Budget's revenue, expenses, profits, and cash flow trends. This information, combined with other sections of the FDD, will help potential franchisees make an informed decision about investing in a Budget franchise.