For the Chem Dry financial statements provided, what years are covered in the consolidated financial statements, with numbers in thousands omitted?
Chem_Dry Franchise · 2024 FDDAnswer from 2024 FDD Document
We have audited the consolidated financial statements of BFG Holdco, Inc. and its subsidiaries (the "Company"), which comprise the consolidated balance sheet as of December 31, 2023, 2022, and 2021 and the related consolidated statements of operations, stockholders' equity, and cash flows for the years ended December 31, 2023, 2022, and 2021, and the related notes to the consolidated financial statements.
December 31, 2023, 2022, and 2021 (000s omitted)
Source: Item 23 — Receipts (FDD pages 68–264)
What This Means (2024 FDD)
According to Chem Dry's 2024 Franchise Disclosure Document, the consolidated financial statements include data for the years 2021, 2022, and 2023. Specifically, the consolidated balance sheets are presented as of December 31, 2023, 2022, and 2021. The related consolidated statements of operations, stockholders' equity, and cash flows cover the years ended December 31, 2023, 2022, and 2021.
It is important to note that the numbers presented in these financial statements are expressed with the omission of thousands (000s). This means that any figure shown needs to be multiplied by one thousand to arrive at the actual value. For example, a reported value of $100 represents $100,000.
Prospective franchisees should carefully review these statements and notes to understand Chem Dry's financial performance and position over the past three years. Understanding the context of these statements, including the omission of thousands, is crucial for accurate interpretation. Additionally, Note 3 indicates that the 2022 financial statements have been restated to correct a misstatement, and Note 9 mentions an impairment loss to its goodwill balance during 2023, which are important details to consider when analyzing the financial data.