What was the total value of Churchs Chicken's current operating lease liabilities in 2010?
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 |
Source: Item 11 — FRANCHISOR'S ASSISTANCE, ADVERTISING, COMPUTER SYSTEMS AND TRAINING (FDD pages 35–43)
What This Means (2025 FDD)
Based on the 2025 Franchise Disclosure Document, information regarding Churchs Chicken's current operating lease liabilities is available for the years 2023 and 2021. The current operating lease liabilities were $3,223 in 2023 and $3,263 in 2021.
This figure represents the short-term portion (due within one year) of Churchs Chicken's obligations for leases of property or equipment. These leases are classified as operating leases, meaning Churchs Chicken does not own the underlying asset but rather rents it. The current liabilities reflect the amounts due within the next year.
A prospective franchisee should note that the FDD does not include the value of current operating lease liabilities for 2010. To get this information, a potential franchisee should ask Churchs Chicken's franchisor directly for the relevant figures from that period to better understand the company's financial history and lease obligations.