What was the balance for Even Hotels as of December 31, 2022?
Even_Hotels Franchise · 2025 FDDAnswer from 2025 FDD Document
|---| | | December 31 | December 31 | | | 2024 2023 | 2024 2023 | | | | Fair value of plan assets | $ - $ 250 | $ - $ | - | | Projected benefit obligation | (31,018) (34,595) | (12,418) | (13,212) | | Funded status | $ (31,018) $ (34,345) | $ (12,418) $ | (13,212) | | Recognized in the balance sheet as: | | | | | Pension asset – current | $ - $ 250 | $ - $ | - | | Accrued pension cost – current | (3,249) (3,337) | (1,094) | (1,100) | | Accrued pension cost – noncurrent | (27,769) (31,258) | (11,324) | (12,112) | | | $ (31,018) $ (34,345) | $ (12,418) $ | (13,212) | | Amounts recognized in accumulated | | | | | other comprehensive income: | | | | | Unrecognized actuarial loss (gain) | 1,546 3,380 | (6,702) | (6,920) | ¹ Revised to reclassify unrealized gains and losses on the Rabbi Trust to net income (see Note 1).
Consolidated Statements of Changes in Parent's Investment (In Thousands)
| Balance at December 31, 2021 | $ 480,384 |
|---|---|
| Net income (Revised ¹) | 450,512 |
| Other comprehensive income (Revised ¹) | 11,363 |
| Share-based payment co |
Source: Item 23 — RECEIPTS (FDD pages 99–438)
What This Means (2025 FDD)
According to Even Hotels' 2025 Franchise Disclosure Document, the balance as of December 31, 2022, was $508,661. This figure represents the financial standing of Even Hotels at the close of the year, reflecting the cumulative effect of income, expenses, and other financial activities. This balance provides a snapshot of the company's financial health at that specific point in time.
The provided table also includes additional financial details that contribute to the change in the balance. Net income for the period was $450,512, other comprehensive income was $11,363, share-based payment compensation amounted to $16,000, and capital contributions related to income tax provisions were $184,357. However, there was a change in balances with affiliates offset against the Parent's Investment, which resulted in a reduction of $633,955. These various factors collectively influenced the final balance reported for December 31, 2022.
Prospective franchisees can use this information to understand the financial dynamics within Even Hotels and how different financial activities impact the overall balance. Reviewing these figures in conjunction with other financial statements and disclosures in the FDD can provide a more comprehensive understanding of the company's financial performance and stability. It is important to consider these figures as part of a broader due diligence process when evaluating a franchise opportunity with Even Hotels.