What was the current portion of long-term debt for Christian Brothers Automotive in 2023?
Christian_Brothers_Automotive Franchise · 2025 FDDAnswer from 2025 FDD Document
d 2023
| 2024 | 2023 | |
|---|---|---|
| Liabilities and Shareholders' Equity | ||
| Current Liabilities | ||
| Accounts payable | $ 7,189,575 | $ 2,904,676 |
| Accrued expenses | 7,354,134 | 6,348,505 |
| State and property taxes payable | 495,321 | 1,101,099 |
| Distributions payable | 2,877,692 | 2,554,625 |
| Contract liabilities | 11,742,030 | 11,148,029 |
| Current portion of long-term debt | 6,203,979 | 8,761,256 |
| Current portion of subordinated debt | - | 1,618,000 |
| Operating lease liability, current | 41,198,967 | 39,040,315 |
| Other current liabilities | 1,550,049 | 2,853,787 |
| Total current liabilities | 78,611,747 | 76,33 |
Source: Item 23 — RECEIPTS (FDD pages 76–372)
What This Means (2025 FDD)
According to Christian Brothers Automotive's 2025 Franchise Disclosure Document, the current portion of their long-term debt in 2023 was $8,761,256. This figure represents the amount of long-term debt that Christian Brothers Automotive was obligated to pay within the next 12 months from the end of 2023.
For a prospective franchisee, understanding the franchisor's debt obligations can provide insights into the financial stability and health of Christian Brothers Automotive. A high level of current debt might indicate potential financial strain, while a manageable level suggests the company is handling its finances responsibly. This information, in conjunction with other financial metrics, can help franchisees assess the risk associated with investing in a Christian Brothers Automotive franchise.
It's important to note that this figure is just one component of Christian Brothers Automotive'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 with previous years and industry benchmarks can provide valuable context.