What was the gross carrying amount of Clear Pest Pros' trade names in 2024?
Clear_Pest_Pros Franchise · 2025 FDDAnswer from 2025 FDD Document
s in thousands)**
9. Intangible Assets and Goodwill
Intangible assets and goodwill of the Company are summarized as follows:
December 31,
| 2024 | 2023 | 2022 (as restated) | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Carrying Amount | Accumulated Amortization | Gross Carrying Amount | Accumulated Amortization | Gross Carrying Amount | Accumulated Amortization | |||||||
| Amortized Intangible Assets Franchise agreements Patented technology Trade names Internal software Patents and trademarks | $ | 32,215 7,685 7,400 1,700 384 | $ | 13,629 5,994 4,125 1,700 1 |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 67)
What This Means (2025 FDD)
According to Clear Pest Pros' 2025 Franchise Disclosure Document, the gross carrying amount of trade names as of December 31, 2024, was $7,400. This figure represents the initial cost or value assigned to the trade names owned by Clear Pest Pros.
The gross carrying amount is a key figure for understanding the company's asset valuation. It reflects the historical cost of the trade names before any accumulated amortization is deducted. Amortization is the systematic reduction of the carrying value of an intangible asset over its useful life, reflecting the consumption or obsolescence of the asset. In Clear Pest Pros' case, the accumulated amortization for trade names would be subtracted from this gross amount to arrive at the net carrying amount.
For a prospective franchisee, understanding the gross carrying amount of trade names provides insight into the value Clear Pest Pros places on its brand and intellectual property. While the gross amount itself doesn't directly impact day-to-day operations, it's part of the overall financial picture that helps assess the company's stability and asset management practices. Reviewing these figures over several years, as presented in the table, can reveal trends in Clear Pest Pros' intangible assets and how they are being managed.