Driven Brands Holdings Inc. (DRVN) Financial Statements (2023 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)
| 6/30/2023 MRQ | 12/31/2022 | 12/31/2021 | |||
|---|---|---|---|---|---|
| ASSETS | |||||
| Current Assets | |||||
| Cash, cash equivalents, and short-term investments | 227 | 523 | |||
| Cash and cash equivalents | 227 | 523 | |||
| Restricted cash and investments | 1 | 1 | |||
| Receivables | 195 | 125 | |||
| Inventory, net of allowances, customer advances and progress billings | 72 | 47 | |||
| Inventory | 72 | 47 | |||
| Prepaid expense | 40 | 24 | |||
| Disposal group, including discontinued operation | 3 | ||||
| Other undisclosed current assets | 36 | 45 | |||
| Total current assets: | 571 | 769 | |||
| Noncurrent Assets | |||||
| Operating lease, right-of-use asset | 1,299 | 996 | |||
| Property, plant and equipment | 1,546 | 1,351 | |||
| Long-term investments and receivables | 3 | ||||
| Accounts and financing receivable, after allowance for credit loss | 3 | ||||
| Intangible assets, net (including goodwill) | 3,043 | 2,727 | |||
| Goodwill | 2,277 | 1,910 | |||
| Intangible assets, net (excluding goodwill) | 766 | 816 | |||
| Capitalized contract cost, net | 7 | 11 | |||
| Deferred income tax assets | 3 | 2 | |||
| Other noncurrent assets | 31 | ||||
| Other undisclosed noncurrent assets | |||||
| Total noncurrent assets: | 5,928 | 5,088 | |||
| TOTAL ASSETS: | 6,500 | 5,857 | |||
| LIABILITIES AND EQUITY | |||||
| Liabilities | |||||
| Current Liabilities | |||||
| Accounts payable and accrued liabilities | 119 | 148 | |||
| Employee-related liabilities | ✕ | ✕ | 65 | ||
| Accounts payable | 61 | 83 | |||
| Accrued liabilities | 58 | ||||
| Debt | 38 | 29 | |||
| Other undisclosed current liabilities | 349 | 291 | |||
| Total current liabilities: | 505 | 468 | |||
| Noncurrent Liabilities | |||||
| Long-term debt and lease obligation | 2,746 | 3,316 | |||
| Long-term debt, excluding current maturities | 2,705 | 2,356 | |||
| Finance lease, liability | 41 | 28 | |||
| Liabilities, other than long-term debt | 1,518 | 324 | |||
| Accounts payable and accrued liabilities | 33 | 29 | |||
| Deferred revenue | 30 | 38 | |||
| Deferred income tax liabilities | 277 | 257 | |||
| Operating lease, liability | 1,178 | 932 | |||
| Other undisclosed noncurrent liabilities | 77 | 104 | |||
| Total noncurrent liabilities: | 4,341 | 3,744 | |||
| Total liabilities: | 4,846 | 4,212 | |||
| Equity | |||||
| Equity, attributable to parent | 1,653 | 1,644 | |||
| Common stock | 2 | 2 | |||
| Additional paid in capital | 1,629 | 1,606 | |||
| Accumulated other comprehensive loss | (62) | (5) | |||
| Retained earnings | 85 | 42 | |||
| Equity, attributable to noncontrolling interest | 1 | 1 | |||
| Total equity: | 1,654 | 1,645 | |||
| TOTAL LIABILITIES AND EQUITY: | 6,500 | 5,857 | |||
Income Statement (P&L) ($ in millions)
| 6/30/2023 TTM | 12/31/2022 | 12/31/2021 | ||
|---|---|---|---|---|
| Revenues | 2,033 | 1,467 | ||
| Gross profit: | 2,033 | 1,467 | ||
| Operating expenses | (1,834) | (1,290) | ||
| Operating income: | 200 | 177 | ||
| Nonoperating income (expense) | 8 | (142) | ||
| Investment income, nonoperating | 25 | 12 | ||
| Gain (loss), foreign currency transaction, before tax | (17) | (25) | ||
| Interest and debt expense | (114) | (121) | ||
| Income (loss) from continuing operations before income taxes: | 93 | (87) | ||
| Income tax expense | (25) | (25) | ||
| Income (loss) from continuing operations: | 68 | (112) | ||
| Income (loss) before gain (loss) on sale of properties: | ✕ | (112) | ||
| Other undisclosed net income (loss) | (25) | 121 | ||
| Net income: | 43 | 10 | ||
| Net income attributable to noncontrolling interest | 0 | 0 | ||
| Net income attributable to parent: | 43 | 10 | ||
| Undistributed earnings (loss) allocated to participating securities, basic | (1) | (0) | ||
| Other undisclosed net income available to common stockholders, basic | ||||
| Net income available to common stockholders, basic: | 42 | 9 | ||
| Other undisclosed net income available to common stockholders, diluted | 0 | 0 | ||
| Net income available to common stockholders, diluted: | 42 | 9 | ||
Comprehensive Income ($ in millions)
| 6/30/2023 TTM | 12/31/2022 | 12/31/2021 | ||
|---|---|---|---|---|
| Net income: | 43 | 10 | ||
| Other comprehensive income (loss) | (57) | (22) | ||
| Comprehensive income (loss): | (14) | (12) | ||
| Comprehensive income, net of tax, attributable to noncontrolling interest | 0 | 0 | ||
| Comprehensive income (loss), net of tax, attributable to parent: | (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.