What was the total expenses for Budget in 2024?
Budget Franchise · 2025 FDDAnswer from 2025 FDD Document
ology applied and measurable inputs used, and the mathematical accuracy of the calculation.
/s/ DELOITTE & TOUCHE LLP New York, New York February 14, 2025
We have served as the Company's auditor since 1997.
Avis Budget Group, Inc. CONSOLIDATED STATEMENTS OF OPERATIONS (In millions, except per share data)
| Y | 11, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2022 | ||
| Revenues | $ | 11,789 | $ 12,008 | $ 11,994 |
| Expenses | ||||
| Operating | 6,014 | 5,675 | 5,285 | |
| Vehicle depreciation and lease charges, net | 2,976 | 1,739 | 828 | |
| Selling, general and administrative | 1,352 | 1,408 | 1,348 | |
| Vehicle interest, net | 941 | 736 | 402 | |
| Non-vehicle related depreciation and amortization | 237 | 216 | 225 | |
| Interest expense related to corporate debt, net: | ||||
| Interest expense | 358 | 296 | 250 | |
| Early extinguishment of debt | 19 | 5 | _ | |
| Long-lived asset impairment and other related c |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 79)
What This Means (2025 FDD)
According to Budget's 2025 Franchise Disclosure Document, the total expenses for the company in 2024 were $14,416. This figure is part of a larger financial overview that includes revenues, various specific expense categories, and ultimately, the income (loss) before income taxes. Reviewing these figures allows prospective franchisees to understand the overall financial performance of Budget.
Specifically, the FDD breaks down the expenses into several categories, including operating expenses ($6,014), vehicle depreciation and lease charges ($2,976), selling, general and administrative expenses ($1,352), vehicle interest ($941), and other items such as non-vehicle related depreciation, interest expense, and restructuring charges. These detailed categories provide insight into where Budget is allocating its resources and managing costs.
It's important to note that in 2024, Budget experienced a loss before income taxes of ($2,627). This loss is calculated by subtracting the total expenses ($14,416) from the total revenues ($11,789). While the total expenses figure provides a snapshot of the company's spending, it should be analyzed in conjunction with the revenue and income figures to get a complete picture of Budget's financial health. A prospective franchisee should investigate the reasons behind the 2024 loss and whether this is a recurring trend or an isolated event.