What was the total value of other current assets for Corcoran in 2024?
Corcoran Franchise · 2025 FDDAnswer from 2025 FDD Document
anchise broker" is defined as a person that engages in the business of the offer or sale of franchises. A franchise broker represents the franchisor and is paid a fee for referring prospects to the franchisor and/or selling the franchise. If a franchisee is working with a franchise broker, franchisees are advised to carefully evaluate any information provided by the franchise broker about a franchise.
- S. Section 22.14.2 of the Franchise Agreement is hereby deleted in its entirety and replaced with the following: "INTENTIONALLY OMITTED."
- T. The first two sentences of Section 23.6 of the Franchise Agreement are hereby deleted in their entirety.
- U. Section 23.8 of the Franchise Agreement is hereby deleted in its entirety and replaced with the following: "INTENTIONALLY OMITTED".
IN WITNESS WHEREOF, the undersigned does hereby acknowledge receipt of this Addendum as of the date Franchisor signs below.
| (In millions, except share data) | ||
|---|---|---|
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | $ 118 $ 106 | |
| Restricted cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 6 13 | |
| Trade receivables (net of allowance for doubtful accounts of $17 and $18) . . . . . . . . . . . . . . | 101 105 | |
| Relocation receivables . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 150 138 | |
| Other current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 206 218 | |
| Total current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 581 580 | |
| Property and equipment, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 247 280 | |
| Operating lease assets, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 331 380 | |
| Goodwill . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 2,499 2,499 | |
| Trademarks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 584 586 | |
| Franchise agreements, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 821 887 | |
| Other intangibles, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 106 127 | |
| Other non-current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 467 500 | |
| Total assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | $ 5,636 $ 5,839 |
EXHIBIT C-1 EXHIBIT C-1
LOCATION ADDENDUM TO FRANCHISE AGREEMENT
| LIABILITIES AND EQUITY | ||
|---|---|---|
| Current liabilities: | ||
| Accounts payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | $101 | $99 |
| Securitization obligations . . . . . . . . . . . . |
Source: Item 23 — RECEIPTS (FDD pages 75–276)
What This Means (2025 FDD)
According to Corcoran's 2025 Franchise Disclosure Document, the total value of other current assets in 2024 was $206 million. This figure is part of the broader balance sheet detailing Corcoran's financial position at the end of the year. Understanding the composition of these 'other current assets' is important for prospective franchisees.
The components of other current assets for 2024 include prepaid contracts and other prepaid expenses which totaled $75 million, prepaid agent incentives totaling $37 million, franchisee sales incentives totaling $29 million, income tax receivables totaling $35 million, and other assets totaling $30 million. These assets are considered current because they are expected to be converted into cash or used up within one year.
For a prospective Corcoran franchisee, this information provides insight into the types of short-term assets Corcoran holds. It can be useful to compare these figures with previous years (2023 figures are also provided) and with other companies in the real estate franchise industry to assess Corcoran's financial management and stability. It is important to note that these figures are in millions.