What was the net value of property and equipment for Budget after accounting for accumulated depreciation and amortization in 2024?

According to Budget's 2025 Franchise Disclosure Document, the net value of property and equipment, after accounting for accumulated depreciation and amortization, was $697 million as of December 31, 2024. This figure represents the book value of Budget's property and equipment after deducting the total depreciation and amortization expenses recognized against those assets up to that date. In comparison, the net value of property and equipment as of December 31, 2023, was $719 million.

This net value is a critical figure for understanding Budget's financial position, as it reflects the actual value of the assets the company uses in its operations. These assets include land, buildings, leasehold improvements, capitalized software, furniture, fixtures, equipment, buses, and support vehicles. The accumulated depreciation and amortization represent the reduction in the value of these assets over time due to wear and tear, obsolescence, or usage.

For a prospective franchisee, this information provides insight into the capital intensity of Budget's operations and how the company manages its assets. A higher net value of property and equipment might indicate a more substantial investment in physical assets, while the level of accumulated depreciation and amortization can reflect the age and condition of those assets. Reviewing these figures over multiple years, as presented in the table, can reveal trends in Budget's capital expenditures and asset management strategies.

It's important to note that these figures are based on accounting principles and may not necessarily reflect the market value of the assets. Additionally, the depreciation methods and useful lives used by Budget can impact the net value of property and equipment. Therefore, a prospective franchisee should consider these factors and consult with a financial advisor to fully understand the implications of these figures.