What was the amount of depreciation and amortization for C12 Group in 2022?
C12_Group Franchise · 2025 FDDAnswer from 2025 FDD Document
rovided at amounts calculated to amortize the cost of the assets over their estimated useful economic lives using straight line and accelerated methods, generally with lives ranging from three to seven years.
Goodwill: Goodwill represents the cost of assets acquired in excess of fair value. Goodwill is amortized over a 10 year period. Amortization is expected to be $11,995 annually through 2031. Accumulated amortization totaled $35,986 at December 31, 2023 and $23,990 at December 31, 2022. As a result of the sale of C12 Atlanta in 2023, the Company wrote off $80,862 in goodwill related to that subsidiary.
Website and Applications: The Company has capitalized costs for the development and implementation of their website and application for the use of its members. Additional functionalities have been added an
Source: Item 22 — CONTRACTS (FDD page 46)
What This Means (2025 FDD)
According to C12 Group's 2025 Franchise Disclosure Document, the company's goodwill amortization was expected to be $11,995 annually. The accumulated amortization totaled $23,990 as of December 31, 2022. Goodwill is amortized over a 10-year period.
C12 Group also capitalized costs for the development and implementation of their website and application for members. These intangible assets are amortized using the straight-line method over a five-year life. The accumulated amortization for the website and applications totaled $152,530 as of December 31, 2022.
Therefore, the total accumulated amortization for C12 Group as of December 31, 2022, which includes both goodwill and website/application assets, was $176,520 ($23,990 + $152,530). This figure represents the cumulative amount of amortization recognized up to that point in time for these specific assets.