What was the total amount of Carvel's accrued expenses and other liabilities as of December 31, 2023?
Carvel Franchise · 2025 FDDAnswer from 2025 FDD Document
| Assets | 2024 | 2023 | |
|---|---|---|---|
| Current assets: | |||
| Cash and cash equivalents | $ | 11,594 | $ 22,662 |
| Restricted cash and cash equivalents - securitization | 32,747 | 29,582 | |
| Accounts receivable, net of allowance for credit losses of | |||
| $1,748 and $1,143 in 2024 and 2023, respectively | 44,272 | 37,049 | |
| Inventories | 1,128 | 978 | |
| Prepaid expenses and other current assets | 12,118 | 9,263 | |
| Advertising funds assets | 9,927 | 7,643 | |
| Intercompany receivables from Parent | 3,277 | 3,277 | |
| Total current assets | 115,063 | 110,454 | |
| Property, equipment, leasehold improvements and land, net | 71,417 | 71,199 | |
| Operating lease assets, net | 62,676 | 69,535 | |
| Goodwill | 122,714 | 122,714 | |
| Intangible assets, net | 496,479 | 495,389 | |
| Long-term other assets | 13,986 | 13,305 | |
| Total assets | $ | 882,335 | $ 882,596 |
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Source: Item 23 — Receipts (FDD pages 100–353)
What This Means (2025 FDD)
According to Carvel's 2025 Franchise Disclosure Document, as of December 31, 2023, Carvel's accrued expenses and other liabilities totaled $75,840. This figure represents the company's short-term financial obligations, which are expected to be settled within a year. These accrued expenses can include items such as wages, utilities, and taxes that have been incurred but not yet paid.
For a prospective Carvel franchisee, understanding the franchisor's accrued expenses and other liabilities can provide insights into the company's short-term financial health and stability. A high level of accrued expenses might indicate potential cash flow challenges or aggressive accounting practices. Conversely, a lower level may suggest efficient financial management.
It is important to note that this figure is just one component of Carvel's overall financial picture. Franchisees should review the entire financial statement, including assets, liabilities, and equity, to gain a comprehensive understanding of the company's financial position. Additionally, comparing these figures to previous years and industry benchmarks can provide valuable context and help identify any trends or potential risks.