What was the amount of other noncurrent assets for Camp Margaritaville as of December 31, 2023?
Camp_Margaritaville Franchise · 2025 FDDAnswer from 2025 FDD Document
| 4,594,556 | 4,199,315 | | | | Other revenue | 15,010,443 | 7,108,803 | | | | Total revenues | 104,634,176 | 92,488,263 | | | | | | | | | | Operating expenses | | | | | | Cost of restaurant and retail merchandise sales | 1,710,201 | 1,814,546 | | | | Selling, general, and administrative | 68,220,301 | 65,463,612 | | | | Depreciation | 1,447,387 | 1,433,243 | | | | Total operating expenses | 71,377,889 | 68,711,401 | | | | | | | | | | Income from operations | 33,256,287 | 23,776,862 | | | | Other income (expenses) | | | | | | Net loss from investments in unconsolidated entities | – | (2,000,000) | | | | Net loss on sale of venues | – | (1,902,027) | | | | Net gain on insurance proceeds | – | 20,088,815 | | | | Interest income | 837,525 | 808,337 | | | | Interest expense | (13,423,323) | (12,330,510) | | | | Net income before income taxes | 20,670,489 | 28,441,477 | | | | Income taxes | 779,144 | 656,806 | | | | Net income from continuing operations | $ 19,891,345 | $ 27,784,671 | | | See accompanying notes.
Consolidated Statements of Changes in Partners Deficit
| Balance at December 31, 2022 | $ (108,194,511 ) |
|---|---|
| Contributions | – |
| Redemptions/distributions paid | (32,078,955) |
| Equity issuance transaction costs | – |
| Class B and C interest | 11,474,320 |
| Net income for the year ended December 31, 2023 | 27,784,671 |
| Balance at December 31, 2023 | (101,014,475) |
| Contributions | – |
| Redemptions/distributions paid | (35,630,167) |
| Equity issuance transaction costs | – |
| Class B and C interest | 3,308,993 |
| Net income for the year ended December 31, 2024 | 19,891,345 |
| Balance at December 31, 2024 | $ (113,444,304) |
See accompanying notes.
Consolidated Statements of Cash Flows
| Year Ended December 31 2023 2024 | ||||
|---|---|---|---|---|
| Operating activities | ||||
| Net income | $ | 19,891,345 | $ | 27,784,671 |
| Adjustments to reconcile net income to net cash provided by | ||||
| operating activities: | ||||
| Depreciation | 1,447,387 | 1,433,243 | ||
| Other noncash operating expenses | 763,317 | – | ||
| Loss on sale of venues | – | 1,902,027 | ||
| Loss on investment in unconsolidated entities | – | 2,000,000 | ||
| Gain on insurance settlement | – | (20,088,815) | ||
| Equity compensation – Class B and C shares | 3,308,988 | 11,474,320 | ||
| Changes in operating assets and liabilities: | ||||
| Accounts receivable | 1,522,080 | (895,374) | ||
| Inventory | (429,016) | (151,544) | ||
| Contract assets | 82,402 | (121,663) | ||
| Prepaid and other assets | (250,248) | 225,589 | ||
| Noncash lease expense | (740,702) | 325,260 | ||
| Other noncurrent assets | (341,947) | 50,000 | ||
| Accounts payable and accrued expenses | 1,177,806 | 512,739 | ||
| Contract liabilities | (343) | 95,663 | ||
| Lease liability | 766,747 | (314,312) | ||
| Deferred revenue | (4,292,806) | (4,149,106) | ||
| Net cash provided by operating activities | 22,905,010 | 20,082,698 | ||
| Investing activities | ||||
| Notes receivable |
Source: Item 23 — RECEIPTS (FDD pages 72–406)
What This Means (2025 FDD)
According to Camp Margaritaville's 2025 Franchise Disclosure Document, the amount of other noncurrent assets decreased by $341,947 in 2023. In 2024, the amount increased to $50,000.
This figure reflects changes in the value of assets that Camp Margaritaville owns that are not expected to be converted to cash within one year. These assets can include items such as long-term investments, intangible assets, or other property.
For a prospective franchisee, this information provides insight into how Camp Margaritaville manages its long-term assets and investments. Monitoring these figures over time can reveal trends in the company's financial strategy and stability.