What was the total amount of Budget's accounts payable and other current liabilities as of December 31, 2024?

According to Budget's 2025 Franchise Disclosure Document, the company's accounts payable and other current liabilities totaled $2,700 million as of December 31, 2024. This figure represents the sum of several specific liabilities, including short-term operating lease liabilities ($628 million), accounts payable ($450 million), accrued sales and use taxes ($305 million), accrued advertising and marketing ($258 million), and public liability and property damage insurance liabilities ($245 million). Other components include accrued interest ($180 million), deferred lease revenues ($149 million), accrued payroll and related expenses ($126 million), and other unclassified liabilities ($359 million).

For a prospective Budget franchisee, understanding the composition and magnitude of these liabilities can provide insight into the company's short-term financial obligations. Accounts payable, for instance, reflects the money Budget owes to its suppliers and vendors, while accrued taxes represent obligations to governmental entities. Accrued advertising and marketing expenses indicate the company's investment in promoting its brand and services. Monitoring these figures over time can reveal trends in Budget's spending and payment practices.

It's also useful to compare these liabilities to Budget's current assets, which totaled $2,034 million as of the same date. While current liabilities exceed current assets, this does not necessarily indicate financial distress, but rather reflects the company's operational and financing strategies. Franchisees should consider these figures in the context of Budget's overall financial health and industry benchmarks to assess the potential risks and opportunities associated with investing in the franchise.