What was the net income for Christian Brothers Automotive in the most recent year presented?
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) | (11,856,419) |
| Net income attributable to Christian Brothers | $ 31,446,567 | $ 26,289,964 |
| Automotive Corporation |
Consolidated Statements of Changes in Shareholders' Equity Years Ended December 31, 2023 and 2022
| Years ending December 31, | | |---|---| | 2025 | $ 53,129,000 | | 2026 | 52,693,000 | | 2027 | 51,117,000 | | 2028 | 49,247,000 | | 2029 | 46,697,000 | Consolidated Statements of Cash Flows Years Ended December 31, 2023 and 2022
| Less current portion | (41,199,000) | | |---|---|---| | | Long-term lease liabilities | $ 412,389,000 | Notes to Consolidated Financial Statements December 31, 2023 and 2022
**1.
Source: Item 23 — RECEIPTS (FDD pages 76–372)
What This Means (2025 FDD)
According to Christian Brothers Automotive's 2025 Franchise Disclosure Document, the consolidated financial statements include the years 2023 and 2022. For 2023, Christian Brothers Automotive had revenues of $137,196,643. After deducting operating costs and expenses, the income from operations was $33,836,412. Other income, including gains on sale-leaseback transactions ($2,044,287) and gains on the sale of leased properties ($3,613,496), along with interest income ($1,234,707), further contributed to the company's financial performance. Interest expense was also factored in.
Other expenses, such as depreciation and amortization ($1,744,756), amortization of deferred financing costs ($13,983), and other expenses ($1,054,548), were subtracted. Income before income taxes was $38,089,875. After accounting for income taxes of $8,488,341, the net income for Christian Brothers Automotive in 2023 was $29,601,534.
For comparison, in 2022, Christian Brothers Automotive had revenues of $122,309,502 and a net income of $17,749,786. The increase in net income from 2022 to 2023 indicates a positive financial trend for Christian Brothers Automotive. A prospective franchisee can review these figures to understand the financial performance of the franchisor, which can be an indicator of the overall health and stability of the franchise system.