What unit of currency are the financial figures presented in for Budget?
Budget Franchise · 2025 FDDAnswer from 2025 FDD Document
Avis Budget Group, Inc. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unless otherwise noted, all dollar amounts are in millions, except per share amounts)
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 79)
What This Means (2025 FDD)
According to Budget's 2025 Franchise Disclosure Document, unless otherwise specified, all dollar amounts in the financial statements are presented in millions. For example, the consolidated financial statements include accounts and transactions of Avis Budget Group, Inc. and its subsidiaries. This means that figures like revenues, expenses, assets, and liabilities are shown in millions of U.S. dollars, which is a standard practice for large corporations to simplify the presentation of large numbers.
For a prospective Budget franchisee, this is important to understand when reviewing the financial health and performance of the company. When assessing the financial statements, a franchisee should remember that a reported figure of, say, $100, actually represents $100 million. This can significantly impact the perceived scale of revenues, expenses, and profitability.
It is also important to note that while the primary reporting currency is U.S. dollars, Budget operates internationally. Currency translation adjustments are made to consolidate financial results from different countries, as reflected in the financial statements. Franchisees should be aware that these adjustments can impact the overall financial figures presented.