What was the total debt for Precision Door Service as of December 31, 2023?
Precision_Door_Service Franchise · 2025 FDDAnswer from 2025 FDD Document
| 19,104 | 16,882 | | less current portion | | | | Trade notes receivable – | 15,894 | 19,893 | | less current portion - | | | | net | | | | Intangible assets – | 1,425,724 | 1,525,073 | | net | | | | Goodwill | 1,741,101 | 2,154,115 | | Other non-current assets | 2,128 | 2,766 | | Total assets | $ 3,459,395 | $ 3,969,145 |
Consolidated Balance Sheets (continued) ($000's, except share and per share amounts)
| As of December 31, | 2023 | 2022 |
|---|---|---|
| Liabilities and Stockholder's Equity | ||
| Current liabilities | ||
| Trade accounts payable | $ 15,962 $ | 22,199 |
| Accrued liabilities | 56,589 | 62,940 |
| Deferred revenue | 17,760 | 15,688 |
| current | ||
| Current portion of long-term debt | 10,488 | 10,627 |
| Current portion of op |
Source: Item 21 — Financial Statements (FDD page 91)
What This Means (2025 FDD)
According to Precision Door Service's 2025 Franchise Disclosure Document, the company's long-term debt less current portion was $1,451,356 as of December 31, 2023. The current portion of long-term debt was $10,488 at that same date.
In addition to long-term debt, Precision Door Service also had other debt obligations. The current portion of operating lease liabilities totaled $6,925, while the operating lease obligations less current portion was $21,302. The current portion of finance lease obligations was $4,426, and the finance lease obligations less current portion was $10,187.
These figures provide a snapshot of Precision Door Service's debt structure at the end of 2023. A prospective franchisee should consider these liabilities when evaluating the financial health and stability of the company. Understanding the different types of debt and their respective amounts can help in assessing the overall risk and potential financial obligations associated with investing in a Precision Door Service franchise.