What was the reported net total property and equipment for Carls in 2023?
Carls Franchise · 2024 FDDAnswer from 2024 FDD Document
es, less current portion | 259,057 | | — | | — | 80,623 | — | — | — | 339,680 | | Other long-term liabilities | 66,746 | | (1) | | — | 184,056 | — | — | — | 250,801 | | Total liabilities | 404,154 | | 619,807 | | — | 325,063 | 589,454 | — | (88,007) | 1,850,471 | | Members' equity (deficit): | | | | | | | | | | | | Members' equity (deficit) | 403,946 | | (579,519) | | — | 524,597 | (586,652) | — | — | (237,628) | | Total liabilities and members' deficit $ | 808,100 $ | | 40,288 $ | | — $ | 849,660 $ | 2,802 $ | | — $ (88,007) $ | 1,612,843 |
THE CKE SECURITIZATION ENTITIES COMBINING CONSOLIDATING BALANCE SHEET (In thousands)
January 31, 2023
| ASSETS | Carl's Jr. Restaurants LLC | Carl's Jr. Funding LLC | Carl's Jr. SPV Guarantor LLC | Hardee's Restaurants LLC | Hardee's Funding LLC | Hardee's SPV Guarantor LLC | Eliminations | The CKE Securitization Entities |
|---|---|---|---|---|---|---|---|---|
| Current assets: |
Source: Item 21 — FINANCIAL STATEMENTS (FDD pages 79–80)
What This Means (2024 FDD)
According to Carls's 2024 Franchise Disclosure Document, the net property and equipment for Carl's Jr. Restaurants LLC was $83,427,000 and for Hardee's Restaurants LLC was $266,461,000 in 2023. The combined total property and equipment, net, for The CKE Securitization Entities was $349,888,000.
For a prospective franchisee, this figure represents the net book value of the company's physical assets, such as land, buildings, equipment, and vehicles, after accounting for accumulated depreciation. It is an important indicator of the company's capital investment and infrastructure.
It's important to note that these figures are specific to Carl's Jr. Restaurants LLC and Hardee's Restaurants LLC, which are part of the broader CKE Securitization Entities. The financial performance of these entities may not directly reflect the performance of individual franchised locations. A prospective franchisee should conduct thorough due diligence and consult with a financial advisor to understand the financial implications of investing in a Carls franchise.