What was the depreciation and amortization expense for Corcoran in 2022?
Corcoran Franchise · 2025 FDDAnswer from 2025 FDD Document
| Current: | ||
|---|---|---|
| Operating lease liabilities . . . Current portion of operating lease liabilities . . . . . | $105 | $113 |
| Finance lease liabilities . . . . . Accrued expenses and other current liabilities . . . | 7 | 9 |
| Non-current: | ||
| Operating lease liabilities . . . Long-term operating lease liabilities . . . . . . . . . . . | 284 | 333 |
| Finance lease liabilities . . . . . Other non-current liabilities . . . . . . . . . . . . . . . . . | 8 | 12 |
| Total lease liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | $404 | $467 |
ANYWHERE REAL ESTATE INC. AND ANYWHERE REAL ESTATE GROUP LLC CONSOLIDATED BALANCE SHEETS
**(In millions, except share data
Source: Item 23 — RECEIPTS (FDD pages 75–276)
What This Means (2025 FDD)
According to Corcoran's 2025 Franchise Disclosure Document, the company's depreciation and amortization expenses totaled $214 million for the year ended December 31, 2022. This figure is part of the adjustments made to reconcile the net loss to net cash provided by (used in) operating activities. For comparison, the depreciation and amortization expenses were $198 million in 2024 and $196 million in 2023.
Depreciation and amortization are non-cash expenses that reflect the reduction in value of Corcoran's assets over time. Depreciation applies to tangible assets like property and equipment, while amortization applies to intangible assets like patents or trademarks. These expenses are important for understanding the true cost of operating the business, as they represent the cost of using these assets even though there is no direct cash outflow during the period.
For a prospective Corcoran franchisee, understanding these figures can provide insight into the capital intensity of the business and how Corcoran manages its assets. While franchisees may not directly incur these expenses at the corporate level, they may have similar expenses related to their own assets, such as office equipment and leasehold improvements. Therefore, it's useful to understand how Corcoran accounts for these items, as described in the FDD, particularly the useful lives and depreciation methods used for different types of assets.