What was the total balance for Precision Door Service at the end of December 31, 2022?
Precision_Door_Service Franchise · 2025 FDDAnswer from 2025 FDD Document
| | 2028 | 85,407 | | Thereafter | 902,773 | | | $ 1,339,870 |
Goodwill
The Company has assigned goodwill to its reporting units based on fair valuation analysis completed for the acquisition of the Manager by KKR.
The changes in the carrying amount of goodwill are as follows:
| Balance as of December 31, 2023 | $ 1,732,653 |
|---|
Source: Item 21 — Financial Statements (FDD page 91)
What This Means (2025 FDD)
According to the 2025 FDD, the balance as of December 31, 2022 for Precision Door Service was $1,728,584, which has been restated. There was also an adjustment to goodwill for unrealized gain/loss on foreign currency of $4,069.
It is important to note that this balance reflects the financial position of the company at a specific point in time and can be influenced by various factors, including revenue, expenses, and accounting adjustments. A restatement indicates that a correction was made to a previously issued financial statement, which could be due to errors or changes in accounting policies.
Prospective franchisees should carefully review the complete financial statements and related notes in the FDD, and consult with a financial advisor, to fully understand the financial health and performance of Precision Door Service. Understanding the reasons behind the restatement and the nature of the goodwill adjustment is crucial for assessing the company's financial stability and future prospects.