What was the reported value of Churchs Chicken's total assets in 2021?
Churchs_Chicken Franchise · 2025 FDDAnswer from 2025 FDD Document
| Assets | - | 2021 | 1010 | |
|---|---|---|---|---|
| Current assets: | ||||
| Cash and cash equivalents | S | 3,551 | $ | 4,189 |
| Restricted cash | 2,058 | 2,163 | ||
| Accounts receivable, net | 8,210 | 6,351 | ||
| Inventory | 820 | 735 | ||
| Prepaid expenses and other | 468 | 4.493 | ||
| Due from member | 75,691 | 58,588 | ||
| Total current assets | 90,798 | 76,519 | ||
| Long-term assets: | ||||
| Property and equipment, net | 111,791 | 120,042 | ||
| Finance lease right-of-use assets | 13,266 | 7,131 | ||
| Operating lease right-of-use assets | 24,572 | 24,221 | ||
| Trademarks and other intangible assets, net | 285,311 | 294,128 | ||
| Goodwill | 26,390 | 30,160 | ||
| Other assets, net | 1,247 | 1,389 | ||
| Total long-term assets | - | 462,577 | 477,071 | |
| Total assets | S | 553,375 | S | 553,590 |
| Liabilities and members' equity | ||||
| Current liabilities: | ||||
| Accounts payable | S | 6,232 | S | 8,348 |
| Accrued liabilities | F. | 4,932 | 21 | 5,614 |
| Current maturities of long-term debt | 1,919 | 5,637 | ||
| Current finance lease liabilities | 486 | 269 | ||
| Current operating lease liabilities | 3,223 | 3,263 | ||
| Total current liabilities | > | 16,792 | 23,131 | |
| Long term liabilities: | ||||
| Long-term finance lease liabilities | 15,532 | 8.904 | ||
| Long-term operating lease liabilities | 24,378 | 24,849 | ||
| Long-term debt, net of current maturities | 312,299 | 322,422 | ||
| Deferred credits and other long-term liabilities | 16,206 | 17,818 | ||
| Total long-term liabilities | 368,415 | 373,993 | ||
| Commitments and contingencies | ||||
| Member's equity: | ||||
| Contributed capital | 102,825 | 122,652 | ||
| Retained earnings | 65,343 | 33,814 | ||
| Total member's equity | S | 168,168 | 156,466 | |
| Total liabil |
Source: Item 11 — FRANCHISOR'S ASSISTANCE, ADVERTISING, COMPUTER SYSTEMS AND TRAINING (FDD pages 35–43)
What This Means (2025 FDD)
According to Churchs Chicken's 2025 Franchise Disclosure Document, the company's total assets in 2021 were valued at $553,375. This figure represents the sum of all current and long-term assets held by Churchs Chicken at that time.
Understanding the composition of these assets is crucial for prospective franchisees. Current assets, which can be converted to cash within a year, include items like cash equivalents, accounts receivable, and inventory. Long-term assets, such as property, equipment, and intangible assets like trademarks, reflect the company's long-term investments and resources. A substantial portion of Churchs Chicken's assets is tied up in trademarks and other intangible assets, highlighting the importance of brand recognition and intellectual property to the franchise system.
Reviewing the liabilities alongside the assets provides a more complete financial picture. In 2021, Churchs Chicken's total liabilities amounted to the sum of total member's equity subtracted from the total assets. This indicates the extent to which the company relies on debt and other obligations to finance its operations. Analyzing these figures helps potential franchisees assess the financial stability and risk profile of Churchs Chicken.
It is important to note that these figures are based on the company's consolidated financial statements, which include the financial results of Cajun Global LLC and its subsidiaries. Prospective franchisees should consult with a financial advisor to fully understand the implications of these financial statements and how they may impact their investment in a Churchs Chicken franchise.