What was the reported goodwill value for Churchs Chicken in 2020?
Churchs_Chicken Franchise · 2025 FDDAnswer from 2025 FDD Document
| 2024 | S 8,78 |
|---|---|
| 2025 | 6,97 |
| 2026 | 6,97 |
| 2027 | 6,69 |
| 2028 | 6,64 |
| Dec | ember 31, 2023 | De | cember 25, 2022 | |
|---|---|---|---|---|
| Ending balance goodwill (gross) Accumulated amortization expense | s |
Source: Item 11 — FRANCHISOR'S ASSISTANCE, ADVERTISING, COMPUTER SYSTEMS AND TRAINING (FDD pages 35–43)
What This Means (2025 FDD)
According to Churchs Chicken's 2025 Franchise Disclosure Document, the provided financial statements do not include the goodwill value for 2020. However, the FDD does include information on the goodwill value for 2021, 2022 and 2023.
Specifically, the ending balance of goodwill (net) was $30,160 in December 25, 2022, and $33,930 in December 31, 2023. The ending balance of goodwill (gross) was $37,700 for both December 25, 2022 and December 31, 2023. The accumulated amortization expense was ($3,770) and ($7,540) for December 25, 2022 and December 31, 2023, respectively.
A prospective franchisee should request the franchisor for the financial statements pertaining to the year 2020 in order to ascertain the goodwill value for that specific year. Understanding the trend in goodwill value over several years can provide insights into the stability and brand strength of Churchs Chicken.