What is the total carrying amount for Corcoran's other intangibles?
Corcoran Franchise · 2025 FDDAnswer from 2025 FDD Document
| Gross | Net | Gross | Net | ||
|---|---|---|---|---|---|
| Carrying Accumulated | Carrying | Carrying Accumulated | Carrying | ||
| Amount Amortization | Amount | Amount Amortization | Amount | ||
| Amortizable—Franchise agreements (a) . . . . . | $ 2,010 $ | 1,189 $ 821 | $ 2,010 $ | 1,123 $ 887 | |
| Indefinite life—Trademarks (b) . . . . . . . . . . . . | $ 584 | $ 584 | $ 586 | $ 586 | |
| Other Intangibles | |||||
| Amortizable—License agreements (c) . . . . . | $ 45 $ | 17 $ 28 | $ 45 $ | 16 $ 29 | |
| Amortizable—Customer relationships (d) . . | 449 | 401 48 | 454 | 385 69 | |
| Indefinite life—Title plant shares (e) . . . . . . | 30 | 30 | 28 | 28 | |
| Amortizable—Other (f) . . . . . . . . . . . . . . . . | 4 | 4 — | 7 | 6 1 | |
| Total Other Intangibles . . . . . . . . . . . . . . . . . . . | $ 528 $ | 422 $ 106 | $ 534 $ | 407 $ 127 |
Source: Item 23 — RECEIPTS (FDD pages 75–276)
What This Means (2025 FDD)
According to Corcoran's 2025 Franchise Disclosure Document, the company's total other intangibles are detailed in Item 23. As of December 31, 2024, the gross carrying amount for other intangibles was $528 million, with accumulated amortization of $422 million, resulting in a net carrying amount of $106 million. For comparison, as of December 31, 2023, the gross carrying amount was $534 million, with accumulated amortization of $407 million, leading to a net carrying amount of $127 million.
These other intangibles are further broken down into several categories. As of December 31, 2024, amortizable license agreements had a gross carrying amount of $45 million with accumulated amortization of $17 million, resulting in a net carrying amount of $28 million. Amortizable customer relationships had a gross carrying amount of $449 million with accumulated amortization of $401 million, resulting in a net carrying amount of $48 million. Indefinite life title plant shares had a carrying amount of $30 million. Amortizable other intangibles had a gross carrying amount of $4 million, which was fully amortized.
Prospective franchisees should understand that these intangible assets are subject to impairment testing and amortization, which can affect Corcoran's financial statements. The value of these intangibles can fluctuate based on market conditions and other factors, potentially impacting the overall financial health of the company. It is important to review these figures in the context of Corcoran's overall financial performance and consult with a financial advisor to understand the implications for your investment.