What were the total payables related to property and equipment included in accounts payable and other current liabilities for Budget as of December 31, 2023?
Budget Franchise · 2025 FDDAnswer from 2025 FDD Document
lion, and $181 million, respectively (including $102 million, $101 million, and $115 million, respectively, of amortization expense relating to capitalized software). At December 31, 2024, we had payables related
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 79)
What This Means (2025 FDD)
According to Budget's 2025 Franchise Disclosure Document, as of December 31, 2023, Budget had $18 million in payables related to property and equipment included in accounts payable and other current liabilities. Additionally, $6 million was included in other non-current liabilities. Therefore, the total payables related to property and equipment were $24 million.
For a prospective franchisee, this indicates the level of short-term and long-term debt Budget carries related to its property and equipment. Understanding the nature of these payables can be crucial in assessing the financial health and stability of the franchisor.
It is important to note that these figures represent the company-wide financial obligations of Budget and may not directly reflect the financial obligations a franchisee would incur in starting their own Budget franchise. However, understanding the franchisor's financial practices can provide valuable context for evaluating the overall risk and potential rewards of investing in a Budget franchise.