What was the other comprehensive loss for City Wide Company, Inc. & Subsidiaries in 2023?
City_Wide Franchise · 2025 FDDAnswer from 2025 FDD Document
| City | Wide Franc | chise | Company, | Inc. & Subsidiari | ies | |||||
|---|---|---|---|---|---|---|---|---|---|---|
| Common Stock Class A Class B | dditional Paid-In Capital | Retained Earnings | Accumulated Other Comprehensive Income (Loss) | Total | ||||||
| Balance January 1, 2022 | $ | 2,100 | $ | 210,000 | $ | 366,366 | $ 15,459,388 | $ | (5,506) | $ 16,032,348 |
| Net income | - | - | - | 10,941,550 | - | 10,941,550 | ||||
| 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 | 18,569,257 | ||||
| Net income | - | - | - | 14,196,288 | - | 14,196,288 | ||||
| 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 | 11,046,257 | ||||
| Net income | - | - | - | 19,161,078 | - | 19,161,078 | ||||
| Other comprehensive income | - | - | - | - | 39,507 | 39,507 |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 65)
What This Means (2025 FDD)
According to City Wide's 2025 Franchise Disclosure Document, the other comprehensive loss for City Wide Franchise Company, Inc. & Subsidiaries in 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, other comprehensive income (or loss) includes items like unrealized gains or losses on investments or foreign currency translation adjustments.
For a prospective City Wide franchisee, understanding comprehensive income and loss can provide a more complete picture of the company's financial performance beyond just net income. It reflects the overall changes in the company's net assets from both operational and non-operational sources. While a loss of ($6,653) may not seem significant on its own, it's important to consider the trend over time and the factors contributing to these changes.
Reviewing the consolidated statements of income and comprehensive income for 2022, 2023, and 2024, as presented in the FDD, can give potential franchisees insight into the consistency and sources of City Wide's profitability. Note that in 2022, City Wide had other comprehensive income of $26,999, while in 2024, the other comprehensive income was $39,507. These figures, along with net income and distributions, contribute to the overall changes in the company's equity from year to year.