What was the total value of Chem Dry's inventory in 2021?
Chem_Dry Franchise · 2024 FDDAnswer from 2024 FDD Document
| 2023 | (As Restated) | 2021 | | |---|---|---|---| | Deferred tax assets: | | | | | Allowance for credit losses | $531 $ 941 | $ 1,312 | | | Deferred revenue | 1,259 1,759 | 2,365 | | | Notes receivable | 52 156 | 260 | | | Interest limitation carryforward | 1,029 872 | 590 | | | Accrued liabilities | 210 231 | 291 | | | Lease liability | 806 399 | 668 | | | Other | 874 882 | 159 | | | Gross deferred tax assets | 4,761 5,240 | 5,645 | | | Deferred tax liabilities: | | | | | Intangibles | (6,836) | (7,493) | (10,160) | | Property and equipment | (244) (309) | (308) | | | Prepaid expenses | (159) (88) | (165) | | | Right-of-use asset | (788) (351) | (608) | | | Gross deferred tax liabilities | (8,027) | (8,241) | (11,241) | | Net deferred tax liability | $ (3,266) | $ (3,001) | $ (5,596) | The activity in the allowance for credit losses is as follows:
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Source: Item 23 — Receipts (FDD pages 68–264)
What This Means (2024 FDD)
According to Chem-Dry's 2024 Franchise Disclosure Document, the company's inventory, net of reserve, as of December 31, 2021, consisted of equipment, cleaning supplies, chemicals, and mixed cleaning solutions. The financial figures provided in the disclosure are expressed in thousands of dollars.
The inventory value is relevant to potential franchisees as it reflects the value of the physical goods Chem-Dry possesses. These goods are essential for providing cleaning services. Understanding the composition of the inventory (equipment, supplies, chemicals) gives a sense of the resources necessary for Chem-Dry's operations.
It is important to note that the figures are 'net of reserve,' meaning that an allowance for potential obsolescence or loss in value has already been subtracted. The inventory value is presented with thousands omitted, so the actual figures would be higher by a factor of one thousand. The FDD does not specify the exact total value of Chem-Dry's inventory in 2021.