What was the net income attributable to noncontrolling interest for Christian Brothers Automotive in 2023?
Christian_Brothers_Automotive Franchise · 2025 FDDAnswer from 2025 FDD Document
lders' equity | $ 663,061,823 | $ 576,351,339 |
Consolidated Statements of Income Years Ended December 31, 2023 and 2022
| 2023 | 2022 | |
|---|---|---|
| Revenues | $ 137,196,643 | $ 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, |
Source: Item 23 — RECEIPTS (FDD pages 76–372)
What This Means (2025 FDD)
According to Christian Brothers Automotive's 2025 Franchise Disclosure Document, the net income attributable to noncontrolling interest in 2023 was a loss of $592,784. This figure represents the portion of Christian Brothers Automotive's net income that is not owned by the parent company, but rather by minority shareholders in subsidiaries that Christian Brothers Automotive consolidates for financial reporting purposes. This loss reduces the net income available to Christian Brothers Automotive Corporation itself.
For a prospective franchisee, understanding the noncontrolling interest is important because it provides insight into the overall financial structure and profitability of Christian Brothers Automotive. While the net income attributable to noncontrolling interest does not directly impact the operations of an individual franchise, it reflects the financial performance of Christian Brothers Automotive's consolidated entities, which can influence the franchisor's ability to support its franchisees.
In 2022, the net income attributable to noncontrolling interest was a loss of $11,856,419. The significant decrease in the loss from 2022 to 2023 suggests changes in the performance or structure of the consolidated entities. Monitoring these figures over time can help potential franchisees assess the financial stability and strategic direction of Christian Brothers Automotive.