What was the other comprehensive income for City Wide in 2023?
City_Wide Franchise · 2025 FDDAnswer from 2025 FDD Document
| Class A | Class B | Capital | Earnings | Income (Loss) | Total | |
|---|---|---|---|---|---|---|
| Balance January 1, 2022 | $ 2,100 | $ 210,000 | $ 366,366 | $ 15,459,388 | $ (5,506) | $ 1 6,032,348 |
| Net income | - | - | - | 10,941,550 | - | 1 0,941,550 |
| Other comprehensive income | - | - | - | - | 26,999 | 26,999 |
| Distributions | - | - | - | ( 8,431,640) | - | (8,431,640) |
| Balance December 31, 2022 | 2,100 | 210,000 | 366,366 | 17,969,298 | 21,493 | 1 8,569,257 |
| Net income | - | - | - | 14,196,288 | - | 1 4,196,288 |
| Other comprehensive loss | - | - | - | - | (6,653) | (6,653) |
| Distributions | ||||||
| - | - | - | ( 21,712,635) | - | (21,712,635) | |
| Balance December 31, 2023 | ||||||
| 2,100 | 210,000 | 366,366 | 10,452,951 | 14,840 | 1 1,046,257 | |
| Net income | ||||||
| - | - | - | 19,161,078 | - | 1 9,161,078 | |
| Other comprehensive income | ||||||
| - | - | - | - | 39,507 | 39,507 | |
| Distributions | ||||||
| - | - | - | ( 16,582,517) | - | (16,582,517) | |
| Balance December 31, 2024 | $ 2,100 | $ 210,000 2024 | $ 366,366 2023 | $ 13,031,512 2022 | $ 54,347 | $ 1 3,664,325 |
| Operating Activities | $ 14,196,288 | $ 10,941,550 | ||||
| Items not requiring (providing) cash | ||||||
| Effect of foreign currency translation (gain) loss | 39,507 | (6,653) | 26,999 |
Source: Item 23 — RECEIPT (FDD pages 65–271)
What This Means (2025 FDD)
According to City Wide's 2025 Franchise Disclosure Document, the other comprehensive loss for 2023 was ($6,653). This figure represents changes in equity that are not the result of transactions with owners, such as net income or distributions. Instead, it captures items like unrealized gains or losses on investments or foreign currency translation adjustments.
For a prospective City Wide franchisee, understanding the other comprehensive income or loss can provide a more complete picture of the company's financial health beyond just net income. While net income reflects the profitability of City Wide's core operations, other comprehensive income accounts for additional factors that can impact the overall equity position.
It's important to note that this figure can fluctuate from year to year, as seen by the change from a gain of $26,999 in 2022 to a loss of ($6,653) in 2023, and then a gain of $39,507 in 2024. These fluctuations can be due to various market conditions and accounting adjustments. Franchisees should consider these figures as part of their overall assessment of City Wide's financial stability and performance.