What was the balance for Remax as of January 1, 2023?
Remax Franchise · 2025 FDDAnswer from 2025 FDD Document
n (in thousands):
| Balance at January 1, 2023 | $ 4,527 |
|---|---|
| Fair value adjustments | (533) |
| Cash payments | (1,234) |
| Balance at January 1, 2024 | $ 2,760 |
| Fair value adjustments | (225) |
| Cash payments | (360) |
| Balance at December 31, 2024 | $ 2,175 |
The Company assesses categorization of assets and liabilities by level at each measurement date, and transfers between levels are recognized on the actual date of the event or change in circumstances that caused the transfer.
Source: Item 1 — Business and Organization (FDD pages 334–464)
What This Means (2025 FDD)
According to Remax's 2025 Franchise Disclosure Document, there are two different balances listed as of January 1, 2023. One balance is listed as $4,527, which is then adjusted for fair value adjustments of ($533) and cash payments of ($1,234). Another balance is listed as $258,626, which is then adjusted for an impairment charge of ($18,633) and the effect of changes in foreign currency exchange rates of $1,171.
It is important to note that the FDD does not specify what these balances refer to. A prospective franchisee should ask Remax for clarification on what these balances represent to understand the company's financial position better. Understanding the nature of these balances is crucial for assessing the financial health and stability of Remax.
Without further context, it is difficult to determine the exact meaning or relevance of these figures for a potential franchisee. Therefore, direct inquiry with Remax is necessary to gain a comprehensive understanding.