What was the net periodic benefit cost (gain) for Crowne Plaza in 2024, 2023, and 2022?
Crowne_Plaza Franchise · 2025 FDDAnswer from 2025 FDD Document
| 2024 | 2023 2022 | 2024 2023 2022 | |
|---|---|---|---|
| Service cost | $ | - $ - $ | - $ - $ - $ - |
| Interest cost | 1,517 | 1,656 1,058 | 593 628 405 |
| Amortization of unrecognized | |||
| actuarial loss (gain) | - - | 478 (597) (639) (280) | |
| Net periodic benefit cost (gain) | $ 1,517 | $ 1,656 $ 1,536 | $ (4) $ (11) $ 125 |
Source: Item 23 — Receipts (FDD pages 100–424)
What This Means (2025 FDD)
According to Crowne Plaza's 2025 Franchise Disclosure Document, the net periodic benefit cost (gain) is detailed within the financial statements. For the years ended December 31, 2024, 2023, and 2022, the net periodic benefit cost (gain) was $1,517, $1,656, and $1,536, respectively. However, there are also figures presented as $(4), $(11), and $125 for the same years.
It appears there may be different calculations or categories within the employee benefit plans that result in these varying figures. The document also mentions amortization of unrecognized actuarial loss (gain) which could contribute to the net periodic benefit cost (gain). For 2024, 2023, and 2022, the amortization of unrecognized actuarial loss (gain) was $478, $(597), and $(639) / $(280).
Prospective franchisees should seek clarification from Crowne Plaza regarding these figures to fully understand the components of employee benefit costs and how they might impact the overall financial performance of the franchise. Understanding these costs is crucial for accurate financial planning and assessing the profitability of a Crowne Plaza franchise.