What was the reported value of leasehold improvements for Noodles & Company in 2024?
Noodles_Company Franchise · 2025 FDDAnswer from 2025 FDD Document
-------| | Prepaid occupancy related costs | $ 850 | $ 800 | | Prepaid insurance | 950 | 928 | | Prepaid expenses | 2,332 | 2,127 | | Other current assets | 24 | 24 | | Prepaid expenses and other assets | $ 4,156 | $ 3,879 |
Property and equipment, net, consist of the following (in thousands):
| 2024 | 2023 | |
|---|---|---|
| Leaseh |
Source: Item 22 — CONTRACTS (FDD pages 98–99)
What This Means (2025 FDD)
According to Noodles & Company's 2025 Franchise Disclosure Document, the value of leasehold improvements in 2024 was $230,211,000. This figure represents the investment Noodles & Company has made in physical improvements to leased properties. These improvements are typically alterations or upgrades to the space to make it suitable for restaurant operations.
For a prospective franchisee, understanding the value of leasehold improvements can provide insight into the level of investment required to set up a Noodles & Company restaurant. It's important to note that these figures reflect the company's overall investment across all locations, not necessarily the specific costs a new franchisee might incur. The franchisee will need to make their own leasehold improvements to get the restaurant ready to open.
Depreciation and amortization are accounting methods used to allocate the cost of an asset over its useful life. The accumulated depreciation and amortization for property and equipment was ($274,507,000) in 2024. This number represents the total amount of depreciation that has been recognized on Noodles & Company's assets up to that point in time. The net value of property and equipment, after accounting for accumulated depreciation, was $137,237,000 in 2024.