What was the net income before state income taxes for Christian Brothers Automotive in 2022?
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 before state income taxes in 2022 was $39,681,639. This figure represents the company's profitability before accounting for state income tax expenses. It is an important metric for potential franchisees to consider as it provides insight into the overall financial health and performance of Christian Brothers Automotive.
Specifically, this number is calculated by subtracting the total operating costs and expenses from the revenues, resulting in the income from operations. Then, other income (expenses) are factored in, including gains on sale-leaseback transactions, gains on the sale of leased properties, interest income, interest expense, and other net income. The sum of these adjustments to the income from operations yields the net income before state income taxes.
For a prospective franchisee, understanding the net income before state income taxes can be useful in evaluating the financial stability and potential profitability of Christian Brothers Automotive. It is important to note that this is a consolidated figure for the entire corporation and not indicative of any single franchise location's performance. Franchisees should also review the expenses that contribute to the net income to understand where the company is spending money.