What was the total current income tax provision for Caption By Hyatt in 2023?
Caption_By_Hyatt Franchise · 2025 FDDAnswer from 2025 FDD Document
| | 2022 | | | | | U.S. income before income taxes | $ | 742 | $ | 188 | $ | 349 | | | | | Foreign income before income taxes | | 821 | | 122 | | 14 | | | | | Income before income taxes | $ | 1,563 | $ | 310 | $ | 363 | | | |
The provision (benefit) for income taxes was comprised of the following:
| Year Ended December 31, | ||||||
|---|---|---|---|---|---|---|
| 2024 | 2023 | 2022 | ||||
| Federal | $ 202 | $ | 106 | $ | 100 | |
| State | 47 | 21 | 10 | |||
| For |
Source: Item 21 — Financial Statements (FDD pages 84–85)
What This Means (2025 FDD)
According to Caption By Hyatt's 2025 Franchise Disclosure Document, the total current income tax provision for the year ended December 31, 2023, was $215 million. This figure represents the sum of federal, state, and foreign current income taxes for that year. Understanding the components of this tax provision can be helpful for prospective franchisees as it provides insight into the tax obligations of Caption By Hyatt.
The table also breaks down the current income tax provision into its federal, state, and foreign components. For 2023, the federal portion was $106 million, the state portion was $21 million, and the foreign portion was $88 million. This level of detail can be useful for franchisees in understanding the geographic distribution of Caption By Hyatt's tax liabilities.
In addition to the current income tax provision, the table also includes information on deferred income taxes and the total provision (benefit) for income taxes. For 2023, the total deferred income tax was $(125) million, and the total provision (benefit) for income taxes was $90 million. These figures provide a more comprehensive view of Caption By Hyatt's overall tax situation and can be useful for franchisees in assessing the company's financial health.