Does the financial statement for Chick Fil A include consolidated balance sheets?

According to Chick Fil A's 2025 Franchise Disclosure Document, the financial statements include consolidated balance sheets. Specifically, Exhibit C of the FDD contains the audited consolidated financial statements of Chick Fil A, Inc. and its subsidiaries. These comprise the consolidated balance sheets as of December 31, 2024, and 2023.

These financial statements also include the related consolidated statements of comprehensive earnings, of stockholders' equity, and of cash flows for each of the three years (2024, 2023, and 2022) in the period ended December 31, 2024. The inclusion of these consolidated statements provides a comprehensive view of Chick Fil A's financial performance and position over the stated period.

For a prospective franchisee, this means they have access to a detailed overview of Chick Fil A's financial health, which is crucial for making an informed investment decision. Reviewing these statements can help potential franchisees understand the company's profitability, assets, liabilities, and cash flow trends. The audited nature of the statements also adds a layer of credibility, as they have been reviewed by an independent auditor.