What was the operating lease expense 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)
The 2025 Franchise Disclosure Document for Christian Brothers Automotive does not specifically list "operating lease expense" as a line item in its provided financial statements for 2022. The document includes a consolidated statement of income for Christian Brothers Automotive, which details various revenue and expense categories.
While the statement of income includes categories such as "Cost of revenues," "Selling, general and administrative expenses," and "Interest expense," it does not break out operating lease expenses separately. A prospective franchisee would need this information to fully understand the company's expenses and profitability.
To get this information, a potential Christian Brothers Automotive franchisee should ask the franchisor for a detailed breakdown of the "Selling, general, and administrative expenses" or request a complete, audited financial statement that includes a specific line item for operating lease expenses. This will help in making an informed decision about investing in a Christian Brothers Automotive franchise.