For Carls, what fiscal years are covered by the audited combined consolidated financial statements?
Carls Franchise · 2024 FDDAnswer from 2024 FDD Document
Attached to this disclosure document as Exhibit J are the audited combined consolidated financial statements of the Securitization Entities (Carl's Jr. Restaurants LLC, Carl's Jr. SPV Guarantor LLC, Carl's Jr. Funding LLC, Hardee's Restaurants LLC, Hardee's SPV Guarantor LLC and Hardee's Funding LLC), which comprise (1) the combined consolidated balance sheets as of January 29, 2024 and January 30, 2023, and the related combined consolidated statements of income, members' deficit, and cash flows for the fiscal years then ended, and the related notes to the combined consolidated financial statements; and (2) the combined consolidated balance sheets as of January 30, 2023 and January 31, 2022, and the related combined consolidated statements of income, members' deficit, and cash flows for the fiscal years then ended, and the related notes to the combined consolidated financial statements.
Source: Item 21 — FINANCIAL STATEMENTS (FDD pages 79–80)
What This Means (2024 FDD)
According to Carls's 2024 Franchise Disclosure Document, the audited combined consolidated financial statements include data for multiple fiscal years. Specifically, the financial statements comprise combined consolidated balance sheets as of January 29, 2024, and January 30, 2023.
These statements also include the combined consolidated statements of income, members' deficit, and cash flows for the fiscal years then ended. Additionally, the audited combined consolidated financial statements also incorporate the combined consolidated balance sheets as of January 30, 2023, and January 31, 2022, along with the corresponding statements of income, members' deficit, and cash flows for those fiscal years.
In summary, the audited financial statements presented in Carls's 2024 FDD provide a three-year view of the company's financial performance, covering the fiscal years ended January 31, 2022, January 30, 2023 and January 29, 2024. This allows prospective franchisees to review Carls's recent financial history and assess trends in its performance.