What measurement date does Budget use for its pension plans?

According to Budget's 2025 Franchise Disclosure Document, the company uses December 31st as the measurement date for its pension plans. This date is significant because it is when Budget assesses the financial status and obligations of its defined benefit pension plans.

The funded status of these pension plans is then reported on Budget's Consolidated Balance Sheets. Any gains, losses, or prior service costs or credits that arise during the reporting period, but are not immediately recognized as part of the net periodic benefit cost, are recorded as a component of accumulated other comprehensive income or loss, net of tax.

For a prospective Budget franchisee, this information is relevant in understanding the overall financial health and obligations of the company. While franchisees are not directly involved in managing these pension plans, the financial stability of the franchisor can impact the support and resources available to franchisees. Knowing the measurement date allows one to align this information with other financial data released by Budget, providing a comprehensive view of the company's financial position.