What was the change in accounts receivable for Christian Brothers Automotive in 2023?
Christian_Brothers_Automotive Franchise · 2025 FDDAnswer from 2025 FDD Document
| 2023 | 2022 | |||
|---|---|---|---|---|
| Revenues | $ 1 37,196,643 | $ 122,309,502 | ||
| Operating Costs and Expenses | ||||
| Cost of revenues | 42,731,504 | 40,601,283 | ||
| Selling, general and administrative expenses | 50,507,014 | 41,565,152 | ||
| Compensation expense associated with ESOP | 10,121,713 | 14,206,798 | ||
| Total operating costs and expenses | 103,360,231 | 96,373,233 | ||
| Income from operations | 33,836,412 | 25,936,269 | ||
| Other Income (Expense) | ||||
| Gains on sale-leaseback transactions | 2,044,287 | 920,683 | ||
| Gains on sale of leased properties | 3,613,496 | 13,994,953 | ||
| Interest income | 1,234,707 | 859,510 | ||
| Interest expense | ( 6,596,136) | ( 2,497,171) | ||
| Other income, net | ( 293,984) | 467,395 | ||
| Total other income, net | 2,370 | 13,745,370 | ||
| Net income before state income taxes | 33,838,782 | 39,681,639 | ||
| State Income Tax Expense | ( 1,799,431) | ( 1,535,256) | ||
| Net income | 32,039,351 | 38,146,383 | ||
| Less net income attributable to noncontrolling interest | ( 592,784) | (11,856,419) | ||
| Automotive Corporation | $ 31,446,567 | $ 26,289,964 |
Source: Item 23 — RECEIPTS (FDD pages 76–372)
What This Means (2025 FDD)
Based on the 2025 Franchise Disclosure Document, the specific change in accounts receivable for Christian Brothers Automotive in 2023 is not detailed. The provided excerpts from Item 23 include consolidated balance sheets and statements of income, but do not break down the specific figures for accounts receivable for 2022 or 2023. Instead, the excerpts focus on overall revenues, operating costs, and other income/expense items. They also include information about the acquisition of WWK Warranty and Administration LLC in September 2023.
Without specific figures for accounts receivable, it is impossible to determine the exact change during 2023. The financial statements provide a broader picture of the company's financial performance, including revenues of $137,196,643 in 2023 compared to $122,309,502 in 2022, and net income of $32,039,351 in 2023 compared to $38,146,383 in 2022. These figures offer insight into the overall financial health of Christian Brothers Automotive but do not isolate the accounts receivable component.
A prospective franchisee should inquire directly with Christian Brothers Automotive about the specific changes in accounts receivable. Understanding this metric can provide valuable insight into the efficiency of the company's collections and its working capital management. Further investigation into these figures would be beneficial for making an informed investment decision.