What was the value of Budget's non-current assets as of December 31, 2023?
Budget Franchise · 2025 FDDAnswer from 2025 FDD Document
t benefits to earnings, net of tax of $(1), $(1), and $(2), respectively | | 4 | 4 | | | | | (114) | 5 | 32 | | Total comprehensive income (loss) attributable to Avis Budget Group, Inc. | $ | (1,935) $ | 1,637 | $ 2,796 |
Avis Budget Group, inc. CONSOLIDATED BALANCE SHEETS (in millions, except par value)
| (In millions, except par value) | • | |
|---|---|---|
| As of December 2024 2027 | 2023 | |
| Assets Current assets: | ||
| Current assets. Cash and cash equivalents | $ 534 $ | 555 |
| Casil and Casil equivalents Receivables (net of allowance for doubtful accounts of $96 and $87, respectively) | 838 | 900 |
| Other current assets | 662 | 684 |
| Total current assets | 2,034 | 2,139 |
| Property and equipment, net |
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, the company's balance sheet included non-current assets of $9,590 million. This figure excludes assets under vehicle programs. Non-current assets are those not expected to be converted to cash within one year.
These assets include items such as property and equipment, net which was valued at $719 million, operating lease right-of-use assets at $2,654 million, deferred income taxes at $1,868 million, goodwill at $1,099 million, other intangibles, net at $441 million and other non-current assets at $9,590 million. These figures provide a snapshot of the resources Budget owns and controls that are intended for long-term use in generating revenue.
For a prospective franchisee, understanding the composition and value of these non-current assets can offer insights into Budget's long-term investments and financial stability. It's important to note that these values are based on accounting principles and may not reflect the actual market value of the assets. Reviewing these figures in conjunction with other financial statement items can provide a more comprehensive view of Budget's financial health.