What was the total amount of other accrued liabilities reported by Carls in 2024?
Carls Franchise · 2024 FDDAnswer from 2024 FDD Document
| 319,855 | (143,300) | 176,555 | |
| Favorable lease agreements | 17 | 5,875 | (4,245) | 1,630 | 9,688 | (7,613) | 2,075 | | | Total intangible assets | | $ 941,940 | | $ (164,402) $ 777,538 | $ 943,943 | $ (150,913) $ 793,030 | | |
Amortization expense related to these intangible assets for fiscal 2024 and 2023 was $17,302 and $17,132, respectively. Our estimated future amortization expense related to these intangible assets is set forth as follows:
| 2025 | 16,785 |
|---|---|
| $ | |
| 2026 | 16,611 |
| 2027 | 16,532 |
| 2028 | 16,333 |
| 2029 | 16,273 |
| Thereafter | 80,604 |
| Total estimated future amortization expense | 163,138 |
| $ | |
**NOTE 7
Source: Item 21 — FINANCIAL STATEMENTS (FDD pages 79–80)
What This Means (2024 FDD)
According to Carls's 2024 Franchise Disclosure Document, the company reported $7,538 in other accrued liabilities. This figure represents the accumulation of various short-term financial obligations that Carls has not yet paid as of the end of the fiscal year. These liabilities can include items such as legal fees, consulting fees, or other miscellaneous expenses that have been incurred but not yet invoiced or paid.
For a prospective franchisee, understanding the 'other accrued liabilities' is crucial because it provides insight into the company's short-term financial health and its ability to manage its current obligations. A significant increase in this category from year to year could indicate potential financial strain or a change in accounting practices. In 2023, Carls reported $10,231 in other accrued liabilities, which is more than the $7,538 reported in 2024.
It is important to note that 'other accrued liabilities' is just one component of the total current liabilities, which also includes items like salaries, wages, income taxes, and deferred fees. Franchisees should review the entire financial statement to gain a comprehensive understanding of Carls's financial position and stability. Consulting with a financial advisor to interpret these figures in the context of the franchise agreement is advisable.