What was the reported value of C12 Group's operating lease right-of-use assets in 2022?
C12_Group Franchise · 2025 FDDAnswer from 2025 FDD Document
pital - End of Year | $ 1,843,880 | $ 1,312,531 | The accompanying notes are an integral part of these consolidated financial statements.
Consolidated Statements of Cash Flows Years Ended December 31, 2022 and 2021
| 2022 | 2021 | |
|---|---|---|
| Cash Flows From Operating Activities: | $ 640,867 | $ 296,300 |
| Net Income | ||
| Adjustments to Reconcile Net Income to Net Cash | ||
| Provided (Used) by Operating Activities: | 101,471 | 57,769 |
| Depreciation and Amortization | ||
| (Increase) Decrease in: | ||
| Accounts Receivable Supplies Inventory and Other Assets Other Operating Lease Right-of-Use Assets Increase (Decrease) in: | (84,865) (63,920) 12,669 124,177 | (37,300) 32,237 (35,816) - |
| Accounts Payable | 51,858 | 135,405 |
| Accrued Liabilities | (1,643) | 57,238 |
| Unearned Revenue | 815,784 | (266,018) |
| Operating Leas |
Source: Item 22 — CONTRACTS (FDD page 46)
What This Means (2025 FDD)
According to C12 Group's 2025 Franchise Disclosure Document, the value of the operating lease right-of-use asset in 2022 was reported. The table provided in Item 22 of the FDD lists various assets and their values for 2022 and 2021.
Specifically, the operating lease right-of-use asset is listed with a value of $124,177 in 2022. This figure represents the company's right to use leased assets, such as office space or equipment, for the duration of the lease term. The value is determined based on the present value of lease payments.
For a prospective C12 Group franchisee, understanding the company's lease obligations and asset values is important for assessing its financial health and stability. Reviewing these figures over multiple years, as presented in the FDD, can provide insights into the company's leasing practices and potential future lease-related expenses. Additionally, note C12 Group's rent expenses under operating leases totaled approximately $124,000 in 2022.