What year is covered by the financial statement provided for Budget?

According to Budget's 2025 Franchise Disclosure Document, the audited consolidated balance sheets of Avis Budget Group, Inc. are provided as of December 31, 2024 and 2023. The related consolidated statements of operations, stockholders' equity, comprehensive income, and cash flows are for the years ended December 31, 2024, 2023, and 2022. This means the financial statements offer a three-year view of the company's financial performance.

For a prospective Budget franchisee, this information is crucial for assessing the financial stability and performance trends of Avis Budget Group, Inc., which guarantees Budget's obligations under the Budget License Agreements. Reviewing these statements allows potential franchisees to understand the revenue, expenses, profits, and cash flow patterns over the three-year period. This historical data can help in forecasting future performance and evaluating the financial risks associated with investing in a Budget franchise.

The financial statements, audited by Deloitte & Touche LLP, include the consolidated balance sheets and statements of operations, comprehensive income, stockholders' equity, and cash flows. These statements are prepared in conformity with accounting principles generally accepted in the United States of America. The inclusion of these audited statements enhances the reliability of the financial information presented in the FDD.

It is important for prospective franchisees to carefully examine these financial statements and consult with a financial advisor to fully understand the implications of the financial performance of Avis Budget Group, Inc. on the Budget franchise opportunity. Understanding the parent company's financial health is essential, as it directly impacts Budget's ability to support its franchisees and fulfill its obligations under the franchise agreement.