What was the change in income taxes for Bw Premier Collection in 2023 (in thousands)?
Bw_Premier_Collection Franchise · 2025 FDDAnswer from 2025 FDD Document
Consolidated Statements of Revenues and Expenses
| (in thousands) | 2023 | Years Ended November 30, 2022 | |
|---|---|---|---|
| REVENUES: | |||
| Fees, dues and assessments | $ 293,536 | $ 276,766 | |
| Program revenues | 180,273 | 165,915 | |
| Other revenues | 62,787 | 51,199 | |
| TOTAL REVENUES | 536,596 | 493,880 | |
| EXPENSES: | |||
| Compensation, taxes and benefits | 197,303 | 175,005 | |
| Advertising and promotion | 121,415 | 105,950 | |
| Depreciation and amortization | 18,162 | 14,748 | |
| General and administrative | 88,222 | 77,477 | |
| Program cost of sales | 19,540 | 16,531 | |
| TOTAL EXPENSES | 444,642 | 389,711 | |
| Net realized and unrealized gains (losses) on investments | 12,414 | (1,391) | |
| Interest and dividend income, and interest expense, net | 12,150 | 2,160 | |
| Excess of revenues over expenses before income taxes | 116,518 | 104,938 | |
| Income tax provision | (27,498) | (17,169) | |
| Excess of revenues over expenses | 89,020 | 87,769 | |
| Excess of expenses over revenues | |||
| attributable to non-controlling interests | 299 | 310 | |
| EXCESS OF REVENUES OVER EXPENSES | |||
| ATTRIBUTABLE TO BEST W |
Source: Item 23 — Receipts (FDD pages 54–203)
What This Means (2025 FDD)
According to Bw Premier Collection's 2025 Franchise Disclosure Document, the provision for income taxes decreased from $17,169 thousand in 2022 to $27,498 thousand in 2023. This represents an increase of $10,329 thousand in income tax provision for Bw Premier Collection. This change is reflected in the excess of revenues over expenses before income taxes, which was $104,938 thousand in 2022 and $116,518 thousand in 2023.
It's important to note that these figures represent the income tax provision, which is an accounting estimate of income taxes owed, and not necessarily the actual cash paid for income taxes. The actual cash flow related to income taxes is reported separately in the cash flow statement. For 2023, the cash flow related to income taxes was ($1,327) thousand, compared to ($9,710) thousand in 2022. This indicates that Bw Premier Collection paid less in income taxes in 2023 compared to the previous year.
Further details regarding the income tax provision can be found in the breakdown provided, which includes items such as income taxes computed at statutory rates, state taxes net of federal benefit, non-deductible meals and entertainment, and other non-deductible items. These components provide a more detailed understanding of how the income tax provision is calculated and what factors influence it. A prospective franchisee should consult with a financial advisor to understand the implications of these figures for their own investment.