What was the reported value of Checkersrallys' operating lease liabilities as of January 1, 2024?

According to Checkersrallys' 2025 Franchise Disclosure Document, the company reported specific figures for operating lease liabilities as of January 1, 2024. The current portion of operating lease liabilities was $11,742,000, while the operating lease liabilities, less the current portion, amounted to $149,180,000.

In simpler terms, Checkersrallys divides its operating lease liabilities into two categories: the portion due within the next year (current portion) and the portion due beyond the next year (less current portion). As of January 1, 2024, they owed approximately $11.74 million in operating lease payments within the upcoming year and an additional $149.18 million in operating lease payments due in subsequent years.

For a prospective franchisee, this information is relevant because operating leases typically involve the real estate and equipment necessary to run the Checkersrallys restaurant. Understanding the scale of these liabilities provides insight into the company's long-term financial obligations and its approach to managing lease agreements. Franchisees may want to inquire about the terms and conditions of these leases, as they could indirectly affect the financial health and stability of the franchise system.