What is the reported current portion of the operating lease liability for C12 Group?
C12_Group Franchise · 2025 FDDAnswer from 2025 FDD Document
ortion | - | 13,356 | | Deposits | 161,353 | 17,653 | | Total other assets | 654,179 | 661,738 | | Total Assets | $ 5,446,125 | $ 3,501,390 |
THE C12 GROUP, LLC Balance Sheets December 31, 2024 and 2023
| LIABILITIES AND MEMBERS' EQUITY | 2024 | 2023 |
|---|---|---|
| Current Liabilities: Accounts payable Accrued liabilities Unearned revenue Operating lease liabilities, current portion Total current liabilities | $ 362,289 | $ 259,919 |
| 222,289 | 147,458 | |
| 1,899,383 | 238,717 | |
| 38,158 | 132,737 | |
| 2,522,119 | 778,831 | |
| Long-Term Liabilities: Long-term incentive plan Operating lease liabilities, |
Source: Item 22 — CONTRACTS (FDD page 46)
What This Means (2025 FDD)
According to C12 Group's 2025 Franchise Disclosure Document, the current portion of the operating lease liabilities was $132,737 in 2024 and $131,566 in 2023. This figure represents the portion of C12 Group's operating lease obligations that are due within the next year. Operating leases typically involve the use of property or equipment, with lease payments expensed over the lease term.
For a prospective C12 Group franchisee, understanding the current operating lease liabilities provides insight into the company's short-term financial obligations related to leased assets. This information, in conjunction with the total current liabilities, can help potential franchisees assess the company's overall liquidity and short-term financial health. It is important to note that these figures reflect the financial position of C12 Group itself, not the financial obligations of individual franchisees.
The long-term operating lease liabilities, less the current portion, were $18,784 in 2024 and $33,449 in 2023. The total current liabilities were $2,522,119 in 2024 and $778,831 in 2023. Reviewing these liabilities can help a potential franchisee understand the financial obligations of C12 Group.