What was the amount of amortization and depreciation expense for Exit in 2022?
Exit Franchise · 2025 FDDAnswer from 2025 FDD Document
e - related parties | 351,676 | 816,338 | - | | Current portion of deferred revenue | 3,140,717 | 3,636,617 | 3,523,417 | | Total current liabilities | 12,543,040 | 14,310,735 | 12,022,909 | | Long-term liabilities | | | | | Notes payable, net of current | 1,559,052 | 1,889,505 | 2,250,108 | | Deferred income tax liability - Canadian taxes | 414,995 | 312,000 | 215,000 | | Deferred revenue | 3,381,807 | 3,929,136 | 4,854,640 | | Other non-current liabilities | 1,005,000 | - | - | | Total long-term liabilities | 6,360,854 | 6,130,641 | 7,319,748 | | Stockholders' equity | | | | | Common stock, $.07 par value, 100 shares authorized, issued, and outstanding at December 31, 2024 Retained earnings Accumulated other comprehensive loss Equity attributable to controlling interest | 7 8,147,295 (1,979,828) 6,167,474 | 7 8,075,962 (1,817,038) 6,258,931 | 7 9,403,248 (1,824,376) 7,578,879 | | Non-controlling interests | (2,329) | (1,713) | (1,250) | | Total stockholders' equity | 6,165,145 | 6,257,218 | 7,577,629 | | Total liabilities and stockholders' equity | $ 25,069,039 | $ 26,698,594 | $ 26,920,286 |
EXIT REALTY CORP. INTERNATIONAL CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS FOR THE YEARS ENDED DECEMBER 31, 2024, 2023 AND 2022
| 2024 | 2023 | 2022 | |
|---|---|---|---|
| Revenue | $ 15,421,227 | $ 15,991,792 | $ 17,858,393 |
| Operating expenses |
Source: Item 23 — RECEIPT (FDD pages 42–235)
What This Means (2025 FDD)
According to Exit's 2025 Franchise Disclosure Document, the total amortization and depreciation expense for the year ending December 31, 2022, was $125,888. This figure is part of the operating expenses reported in the company's financial statements.
Amortization and depreciation are accounting methods used to allocate the cost of assets over their useful lives. For franchisees, understanding these expenses is crucial because they reflect the reduction in value of assets like equipment and leasehold improvements. These non-cash expenses impact the overall profitability of Exit.
Prospective franchisees should consider how these expenses might affect their own financial performance. While these are expenses for Exit, franchisees will have their own depreciation and amortization expenses related to their specific assets and lease agreements. Reviewing these figures in the FDD can provide a benchmark for understanding potential expense levels.