What was the operating lease right-of-use liability for C12 Group in 2023?
C12_Group Franchise · 2025 FDDAnswer from 2025 FDD Document
| 10 1000 | | Other assets | 17,653 | 13,984 | | Total other assets | 661,738 | 801,124 | | | | | | Total Assets | $ 3,501,390 | $ 3,534,314 |
THE C12 GROUP, LLC Balance Sheets December 31, 2023 and 2022
| LIABILITIES AND MEMBERS' EQUITY | 2023 | 2022 |
|---|---|---|
| Current Liabilities: Accounts payable Accrued liabilities Unearned revenue Right-of-use operating lease liabilities, current portion Total current liabilities | $ 259,919 | $ 292,315 |
| 147,458 | 187,482 | |
| 238,717 | 914,503 |
Source: Item 22 — CONTRACTS (FDD page 46)
What This Means (2025 FDD)
According to C12 Group's 2025 Franchise Disclosure Document, the company's operating lease right-of-use liabilities are divided into current and long-term portions. The current portion of operating lease liabilities for C12 Group in 2023 was $132,737, while the long-term portion, less the current portion, was $33,449.
In simpler terms, this means C12 Group had lease obligations for office space and equipment. A total of $132,737 was due within the next year (current portion), and $33,449 was due beyond the next year (long-term portion). These figures reflect the company's financial commitments related to its leased assets.
Prospective franchisees should understand that these lease liabilities are part of C12 Group's overall financial structure. Reviewing these figures in conjunction with the company's revenue and expenses can provide a clearer picture of its financial health and stability. Understanding the lease obligations of the franchisor can provide insight into the overhead and operational costs that may affect the support and services they provide to franchisees.