What was the income (loss) before income taxes for Budget as of December 31, 2024?
Budget Franchise · 2025 FDDAnswer from 2025 FDD Document
| The provision for (benefit from) income taxes consists of the following: | 2024 | Year Ended December 31, 2023 | 2022 | |
|---|---|---|---|---|
| Current Federal State Foreign Current income tax provision | $ 14 11 70 95 | $ 45 43 88 | $ | 137 61 198 |
| Deferred Federal State Foreign Deferred income tax provision Provision for (benefit from) income taxes | $ (644) | 77 | $ | 622 |
| (211) | 47 | (22) | ||
| (50) | 67 | 82 | ||
| (905) | 191 | 682 | ||
| (810) | $ 279 | 880 | ||
| Income (loss) before income taxes is comprised of the following: | 2024 | Year Ended December 31 |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 79)
What This Means (2025 FDD)
According to Budget's 2025 Franchise Disclosure Document, the income (loss) before income taxes is broken down between United States (U.S.) and foreign sources. For the year ended December 31, 2024, the income (loss) before income taxes for U.S. operations was a loss of $2,642. For foreign operations, the income (loss) before income taxes was a loss of $15 for the same period.
Combining these figures, the total income (loss) before income taxes for Budget as of December 31, 2024, was a loss of $2,627. This is a consolidated figure reflecting the performance of both U.S. and foreign operations before accounting for income taxes.
A prospective franchisee should consider this loss when evaluating the financial health of Budget. It is important to review the trends over the past three years, as the FDD also provides figures for 2023 and 2022, to understand the consistency and potential causes of these losses. Further investigation into the reasons behind the losses, such as market conditions or specific operational challenges, would be a prudent step in assessing the franchise opportunity.