What were the total long-lived assets for Noodles & Company in 2023 (in thousands)?
Noodles_Company Franchise · 2025 FDDAnswer from 2025 FDD Document
| 2024 | 2023 | 2022 | ||
|---|---|---|---|---|
| Revenue: | ||||
| Restaurant revenue | $ 483,097 | $ | 492,648 | $ 498,359 |
| Franchising royalties and fees, and other | 10,174 | 10,757 | 11,121 | |
| Total segment revenue | 493,271 | 503,405 | 509,480 | |
| Less: | ||||
| Cost of sales | 123,692 | 124,102 | 137,859 | |
| Labor | 154,258 | 157,608 | 155,023 | |
| Occupancy | 46,366 | 45,925 | 45,213 | |
| Other restaurant operating costs | 95,032 | 91,559 | 91,220 | |
| General and administrative | 50,824 | 51,833 | 49,903 | |
| Depreciation and amortization | 29,066 | 26,792 | 23,268 | |
| Pre-opening | 1,543 | 2,215 | 1,662 | |
| Restaurant impairments, closure costs and asset disposals | 20,268 | 8,400 | 6,164 | |
| Total segment expenses | 521,049 | 508,434 | 510,312 | |
| Segment loss from operations | $ (27,778) $ | (5,029) $ | (832) | |
| Reconciliation: | ||||
| Interest expense, net | 8,381 | 4,803 | 2,445 | |
| Consolidated loss before income taxes | $ (36,159) $ December 31, 2024 | (9,832) $ |
Source: Item 22 — CONTRACTS (FDD pages 98–99)
What This Means (2025 FDD)
According to the 2025 Franchise Disclosure Document, Noodles & Company's total assets in 2023 were $368,095,000 (in thousands). The FDD also specifies that long-lived assets include the company's property, equipment, and operating lease assets as presented on the Consolidated Balance Sheets.
For a prospective franchisee, understanding the asset values and their composition is crucial for assessing the financial health and stability of Noodles & Company. Long-lived assets are significant because they represent the resources Noodles & Company uses to generate revenue over an extended period. These assets are critical for the ongoing operations of both company-owned and franchised restaurants.
The FDD also notes that long-lived assets are reviewed for impairment regularly. If the carrying amount of an asset is not recoverable, the company will record an impairment charge, which can affect profitability. This indicates that the value of these assets can fluctuate based on various factors, including market conditions and the performance of individual restaurants.
Therefore, a potential franchisee should consider these factors when evaluating the financial statements provided in the FDD. Understanding how Noodles & Company manages and values its assets can provide insights into the overall financial risk and potential return on investment for a franchise location.