Driven Brands Holdings Inc. (DRVN) Financial Statements (2024 and earlier)

Company Profile

Business Address 440 S. CHURCH STREET
CHARLOTTE, NC 28202
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 75 - Automotive Repair, Services, And Parking (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in millions)

3/31/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments177227523
Cash and cash equivalents177227523
Restricted cash and investments111
Receivables167195125
Inventory, net of allowances, customer advances and progress billings837247
Inventory837247
Prepaid expense474024
Disposal group, including discontinued operation301 3
Other undisclosed current assets463645
Total current assets:821571769
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization 18  
Operating lease, right-of-use asset1,3891,299996
Property, plant and equipment1,4381,5461,351
Long-term investments and receivables   3
Accounts and financing receivable, after allowance for credit loss   3
Intangible assets, net (including goodwill)2,1953,0432,727
Goodwill1,4562,2771,910
Intangible assets, net (excluding goodwill)739766816
Capitalized contract cost, net6711
Deferred costs 2  
Deferred income tax assets432
Other noncurrent assets  31 
Other undisclosed noncurrent assets36  
Total noncurrent assets:5,0905,9285,088
TOTAL ASSETS:5,9116,5005,857
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities123119148
Employee-related liabilities65
Accounts payable686183
Accrued liabilities5558 
Debt373829
Other undisclosed current liabilities267349291
Total current liabilities:427505468
Noncurrent Liabilities
Long-term debt and lease obligation2,9262,7463,316
Long-term debt, excluding current maturities2,9112,7052,356
Finance lease, liability 154128
Liabilities, other than long-term debt1,5481,518324
Accounts payable and accrued liabilities303329
Deferred revenue313038
Deferred income tax liabilities155277257
Operating lease, liability1,3331,178932
Other undisclosed noncurrent liabilities10377104
Total noncurrent liabilities:4,5774,3413,744
Total liabilities:5,0044,8464,212
Equity
Equity, attributable to parent9061,6531,644
Common stock222
Additional paid in capital1,6521,6291,606
Accumulated other comprehensive loss(38)(62)(5)
Retained earnings (accumulated deficit)(710)8542
Equity, attributable to noncontrolling interest111
Total equity:9071,6541,645
TOTAL LIABILITIES AND EQUITY:5,9116,5005,857

Income Statement (P&L) ($ in millions)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
Revenues2,3042,0331,467
Gross profit:2,3042,0331,467
Operating expenses(2,991)(1,834)(1,290)
Operating income (loss):(687)200177
Nonoperating income (expense)38(142)
Investment income, nonoperating  2512
Gain (loss), foreign currency transaction, before tax3(17)(25)
Interest and debt expense(164)(114)(121)
Income (loss) from continuing operations before income taxes:(848)93(87)
Income tax expense (benefit)103(25)(25)
Income (loss) from continuing operations:(745)68(112)
Loss before gain (loss) on sale of properties:(112)
Other undisclosed net income (loss)  (25)121
Net income (loss):(745)4310
Net income attributable to noncontrolling interest  00
Net income (loss) attributable to parent:(745)4310
Undistributed earnings (loss) allocated to participating securities, basic16(1)(0)
Net income (loss) available to common stockholders, basic:(729)429
Other undisclosed net income (loss) available to common stockholders, diluted(3)00
Net income (loss) available to common stockholders, diluted:(733)429

Comprehensive Income ($ in millions)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
Net income (loss):(745)4310
Other comprehensive income (loss)25(57)(22)
Comprehensive loss:(720)(14)(12)
Comprehensive income (loss), net of tax, attributable to noncontrolling interest(0)00
Other undisclosed comprehensive loss, net of tax, attributable to parent   
Comprehensive loss, net of tax, attributable to parent:(720)(14)(12)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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