What were the proceeds from the sale of leased properties for Christian Brothers Automotive in 2024?
Christian_Brothers_Automotive Franchise · 2025 FDDAnswer from 2025 FDD Document
d 2023
| 2024 | 2023 | |
|---|---|---|
| Revenues | $ 151,946,558 | $ 137,196,643 |
| Operating Costs and Expenses | ||
| Cost of revenues | 48,621,617 | 42,731,504 |
| Selling, general and administrative expenses | 59,470,531 | 50,507,014 |
| Compensation expense associated with ESOP | 5,089,319 | 10,121,713 |
| Total operating costs and expenses | 113,181,467 | 103,360,231 |
| Income from operations | 38,765,091 | 33,836,412 |
| Other Income (Expense) | ||
| Gains on sale-leaseback transactions | 3,633,369 | 2,044,287 |
| Gains on sale of leased properties | 18,119,450 | 3,613,496 |
| Interest income | 2,547,773 | 1,234,707 |
| Interest expense | (10,391,857) | (6,596,136) |
| Other income, net | 1,219,419 | (293,984) |
| Total other income, net | 15,128,154 | 2,370 |
| Net income before state income taxes | 53,893,245 | 33,838,782 |
| State Income Tax Expense | (780,073) | (1,799,431) |
| Net income | 53,113,172 | 32,039,351 |
| Less Net Income (Loss) Attributable to Noncontrolling Interest | 8,275,053 | (592,784) |
| Net income attributable to Christian Brothers | $ 44,838,119 | $ 31,446,567 |
| Automotive Corporatio |
Source: Item 23 — RECEIPTS (FDD pages 76–372)
What This Means (2025 FDD)
According to Christian Brothers Automotive's 2025 Franchise Disclosure Document, the gains on the sale of leased properties in 2024 amounted to $18,119,450. This figure reflects the income Christian Brothers Automotive received from selling properties that were previously leased.
For a prospective franchisee, this indicates that Christian Brothers Automotive actively engages in real estate transactions, specifically buying, leasing, and selling properties used by its franchise locations. These real estate activities appear to be a significant revenue stream for the company.
The gains from the sale of leased properties can fluctuate year to year, as evidenced by the fact that in 2023, Christian Brothers Automotive had gains of $3,613,496 from the sale, which is significantly lower than the 2024 amount. This could be due to market conditions, the number of properties sold, or the specific terms of the sales agreements. Franchisees should consider these gains as part of the overall financial health and strategy of the franchisor.