What was the total revenue from franchised restaurants and other sources for Carl's Jr. Restaurants LLC?
Carls Franchise · 2024 FDDAnswer from 2024 FDD Document
| 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: | ||||||||
| Cash and cash equivalents $ | 1,627 $ | 1,161 $ | — $ | 3,555 $ | 977 $ | — $ | — $ | 7,320 |
| Cash and cash equivalents - restricted | — | 16,053 | — | — | — | — | — | 16,053 |
| Accounts receivable, net | 10,663 | — | — | 10,036 | — | — | — | 20,699 |
| Due from affiliates | 6,860 | 20,696 | — | 52,060 | 215 | — | (79,292) | 539 |
| Inventories | 562 | — | — | 2,411 | — | — | — | 2,973 |
| Prepaid expenses | — | 16 | — | 137 | 20 | — | — | 173 |
| Other current assets | 83 | — | — | — | — | — | — | 83 |
| Total current assets | 19,795 | 37,926 | — | 68,199 | 1,212 | — | (79,292) | 47,840 |
| Property and equipment, net | 83,427 | — | — | 266,461 | — | — | — | 349,888 |
| Operating lease assets | 317,666 | — | — | 93,790 | — | — | — | 411,456 |
| Intangible assets, net | 384,915 | — | — | 408,115 | — | — | — | 793,030 |
| Other assets, net | 13,000 | — | — | 15,810 | — | — | — | 28,810 |
| Total assets $ | 818,803 $ | 37,926 $ | — $ | 852,375 $ | 1,212 $ | — $ | (79,292) $ | 1,631,024 |
| LIABILITIES AND MEMBERS' DEFICIT | ||||||||
| Current liabilities: | ||||||||
| Current portion of long-term debt $ | — $ | 5,900 $ | — $ | — $ | 5,900 $ | — $ | — $ | 11,800 |
| Current portion of finance leases | 627 | — | — | 641 | — | — | — | 1,268 |
| Current portion of operating leases | 59,930 | — | — | 16,312 | — | — | — | 76,242 |
| Accounts payable | 2,849 | — | — | 3,358 | — | — | — | 6,207 |
| Due to affiliates | (564) | 55,477 | — | 3,779 | 25,677 | — | (79,292) | 5,077 |
| Other current liabilities | 10,931 | 2,982 | — | 18,435 | 2,968 | — | — | 35,316 |
| Total current liabilities | 73,773 | 64,359 | — | 42,525 | 34,545 | — | (79,292) | 135,910 |
| Long-term debt, less current portion | — | 558,203 | — | — | 558,202 | — | — | 1,116,405 |
| Finance leases, less current portion | 5,269 | — | — | 9,159 | — | — | — | 14,428 |
| Operating leases, less current portion | 269,290 | — | — | 80,987 | — | — | — | 350,277 |
| Other long-term liabilities | 68,431 | (1) | — | 194,080 | — | — | — | 262,510 |
| Total liabilities | 416,763 | 622,561 | — | 326,751 | 592,747 | — | (79,292) | 1,879,530 |
| Members' equity (deficit): | ||||||||
| Members' equity (deficit) | 402,040 | (584,635) | — | 525,624 | (591,535) | — | — | (248,506) |
| Total liabilities and members' deficit $ | 818,803 $ | 37,926 $ | — $ | 852,375 $ | 1,212 $ | — $ | (79,292) $ | 1,631,024 |
THE CKE SECURITIZATION ENTITIES COMBINING CONSOLIDATING STATEMENT OF OPERATIONS (In thousands)
Fiscal 2024
| | 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
Source: Item 21 — FINANCIAL STATEMENTS (FDD pages 79–80)
What This Means (2024 FDD)
According to Carls's 2024 Franchise Disclosure Document, Carl's Jr. Restaurants LLC reported revenue from franchised restaurants and other sources of $175,402. This figure represents income derived from royalties, franchise fees, and other related revenue streams associated with franchised locations.
For a prospective Carls franchisee, this indicates the financial scale of the franchise system's revenue generation from its franchised operations. It provides insight into how much revenue the company generates from its franchisees, which can be an important factor in assessing the overall health and stability of the franchise system.
It is important to note that this figure does not represent the revenue of individual franchised restaurants, but rather the revenue that Carl's Jr. Restaurants LLC receives from its franchisees. Franchisees should review the complete financial statements and consult with a financial advisor to fully understand the financial performance of Carls and its implications for their investment.