Are there any exceptions noted in the table regarding the 'as of' date for Budget's financial statements?
Budget Franchise · 2025 FDDAnswer from 2025 FDD Document
Exhibit G includes the audited consolidated balance sheets of Avis Budget Group, Inc. as of December 31, 2024 and 2023, and the related consolidated statements of operations, stockholders' equity, comprehensive income and cash flows for the years ended December 31, 2024, 2023, and 2022 and the related notes of Avis Budget Group, Inc. Avis Budget Group, Inc. guarantees our performance of our obligations under the Budget License Agreements we enter into. The instrument of guaranty is included in Exhibit G. We file state specific guarantees of performance with the appropriate agencies in the states where our licenses are registered to be offered and sold.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 79)
What This Means (2025 FDD)
According to Budget's 2025 Franchise Disclosure Document, the consolidated balance sheets of Avis Budget Group, Inc. are audited as of December 31, 2024, and 2023. The related consolidated statements of operations, stockholders' equity, comprehensive income, and cash flows are for the years ended December 31, 2024, 2023, and 2022.
This means that the financial statements presented in the FDD provide a historical view of the company's financial performance over the past three years, ending with the most recent year, 2024. A prospective franchisee can review these statements to understand Budget's financial stability and performance trends.
The independent registered public accounting firm, Deloitte & Touche LLP, has audited these financial statements, providing an opinion that they fairly present the financial position of Avis Budget Group, Inc. in conformity with accounting principles generally accepted in the United States of America. This audit provides an additional level of assurance regarding the reliability of the financial information presented.