What is the total net 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 total net amount for other intangibles as of December 31, 2024, was $106 million. This figure is calculated by subtracting the accumulated amortization of $422 million from the gross carrying amount of $528 million. For the previous year, December 31, 2023, the total net amount for other intangibles was $127 million, derived from a gross carrying amount of $534 million less accumulated amortization of $407 million.
Other intangibles include items such as license agreements, customer relationships, title plant shares, and other miscellaneous intangible assets. These assets are subject to amortization, except for indefinite-life title plant shares, which are not amortized. The license agreements had a net value of $28 million in 2024 and $29 million in 2023, while customer relationships were valued at $48 million in 2024 and $69 million in 2023. The title plant shares remained constant at $28 million for both years. Other amortizable assets had a net value of $0 in 2024 and $1 million in 2023.
Prospective Corcoran franchisees should understand that these intangible assets contribute to the overall value and financial health of the company. The fluctuations in net values from year to year can reflect changes in amortization schedules, new acquisitions, or impairments. It's important for franchisees to consider how these intangible assets might affect Corcoran's ability to support its franchisees and maintain its competitive position in the market.