Does the table provide a summary of Budget's equity?
Budget Franchise · 2025 FDDAnswer from 2025 FDD Document
644 | 642 | 16 626 $ 642 | | Cash and cash equivalents, program and restricted cash, end of period | $ | 597 | $ 644 | $ 642 | | Supplemental disclosure Interest payments Income tax payments, net | $ $ | 1,273 50 | | |
Avis Budget Group, Inc. CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (In millions)
| Commo | n Stock | Additional Pald-in | Retained Earnings | Accumulated Other | Treasur | y Sto | Stockholders' Equity Attributable to Avis Budget | Non-controlling Interests | Total Stoci | cholders' Equity | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Shares | Amou | int | Capital | . ( | (Accumulated Deficit) | (Loss) | Shares | _ | Amount | Group, Inc. $ (220) | ÷ | 11 | 3 | (209) | ||
| Balance at January 1, 2022 | 137.1 | $ | 1 | $ 6,676 | $ | (185) | $ | (133) | (81,2) | $ | (6,579) | $ (220) | • | • | . | |
| Comprehensive Income: | _ | 2.764 | _ | _ | _ | 2.764 | (8) | 2,756 32 | ||||||||
| Net income | _ | _ | _ | _ | 32 | _ | - | 32 | _ | 2,789 | ||||||
| Other comprehensive income | _ | _ | 2,784 | 32 | 2,796 | (8) | 2,700 | |||||||||
| Total comprehensive income | _ | _ | 24 | _ | _ | _ | _ | 24 | _ | (36) | ||||||
| Contributions from non-controlling interests | _ | (34) | _ | _ | 0.3 | (2) | (38) | (3.267) | ||||||||
| Net activity related to restricted stock units | _ | _ | - | (16.7) | _ | (3,287) | _ | |||||||||
| Repurchases of common stock | ||||||||||||||||
| Balance at December 31, 2022 | 137.1 | 5 | 1 | $ 6,868 | 5 | 2.579 | $ | (101) | (97.6) | $ | (9,848) | $ (703) | $ | 3 | $ | (700) |
| Comprehensive income: | _ | 1,632 | 3 | 1,635 | ||||||||||||
| Net income | _ | - | _ | 1,632 | 7 | _ | 5 | _ | 5 | |||||||
| Other comprehensive income | - | _ | - | _ | 1.632 | _ | 1,637 | _ | 3 | 1,640 | ||||||
| Total comprehensive income | 1,632 | 0.3 | 3 | (31) | (31) | |||||||||||
| Net activity related to restricted stock units | _ | _ | (32) | (2) | _ | (4.3) | (897) | (897) | (897) | |||||||
| Repurchases of common stock (4) | _ | _ | _ | (355) | _ | (355) | (355) | |||||||||
| Dividends paid ($10.00 per share) | - | _ | (101,6) | - | (10,742) | $ (349) | s | ê | 5 | (343) | ||||||
| Balance at December 31, 2023 | 137.1 | $ | 1 | $ 6 634 | s | 3,854 | 5 | (96) | (101,0) | • | (10.742) | (, | ||||
| Comprehensive income: | 4 004 | _ | _ | _ | (1,821) | 4 | (1,817) | |||||||||
| Net income (loss) | _ | _ | _ | (1.821) | (114) | _ | _ | (114) | (114) | |||||||
| Other comprehensive income (loss) | - | _ | _ | _ | (1,821) | - | (114) | (1,935) | _ | 4 | (1,931) | |||||
| Total comprehensive income (loss) | (14) | (1,021) | (, | 0.2 | 21 | 3 | 3 | |||||||||
| Net activity related to restricted stock units | - | - |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 79)
What This Means (2025 FDD)
According to Budget's 2025 Franchise Disclosure Document, a consolidated statement of stockholders' equity is provided. The table includes common stock, additional paid-in capital, retained earnings, accumulated other comprehensive loss, and treasury stock. It also shows the total stockholders' equity attributable to Avis Budget Group, Inc., non-controlling interests, and total stockholders' equity.
The table details changes in equity over time, presenting balances as of specific dates. For instance, it shows the balance at January 1, 2022, and then at December 31, 2022, 2023, and 2024. This allows a prospective franchisee to see how different components of equity have evolved over these periods. The amounts are presented in millions.
For example, the balance at January 1, 2022, shows common stock at $1, additional paid-in capital at $6,676, retained earnings at $(185), accumulated other comprehensive loss at $(133), and treasury stock at $(6,579). The stockholders' equity attributable to Avis Budget Group, Inc. is $(220). By December 31, 2024, these values have changed to common stock at $1, additional paid-in capital at $6620, retained earnings at $2,029, accumulated other comprehensive loss at $(210), and treasury stock at $(10,767). The stockholders' equity attributable to Avis Budget Group, Inc. is $(2,327).
Understanding these equity components can help a franchisee assess the financial stability and overall financial health of Budget. Reviewing these figures over several years provides insight into the company's performance and how it manages its equity. Note 16 provides additional discussion of stockholders' equity.