What was the net income before state income taxes 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 noncontroll |
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 for 2023 was $33,838,782. This figure represents the company's profitability before accounting for state income tax expenses. It is an important metric for potential franchisees to understand the overall financial health and performance of Christian Brothers Automotive.
Specifically, this number is calculated by taking the income from operations, which was $33,836,412, and adding the total other income, net, which was $2,370. The income from operations is calculated by subtracting the total operating costs and expenses ($103,360,231) from the total revenues ($137,196,643). The total other income, net, includes gains on sale-leaseback transactions ($2,044,287), gains on sale of leased properties ($3,613,496), interest income ($1,234,707), interest expense (-$6,596,136), and other income, net (-$293,984).
Understanding the components of net income before state income taxes can give a franchisee a clearer picture of where Christian Brothers Automotive's revenue is coming from and what costs are impacting their bottom line. Reviewing these figures over multiple years, as presented in the FDD, can also reveal trends and potential areas of growth or concern. Prospective franchisees should analyze these figures carefully to assess the financial stability and potential profitability of investing in a Christian Brothers Automotive franchise.