In the CKE Securitization Entities Combined Consolidated Statements of Cash Flows, what was the net cash provided by operating activities for Hardees in fiscal year 2024?
Hardees Franchise · 2025 FDDAnswer from 2025 FDD Document
Attached to this disclosure document as Exhibit K are the audited combined consolidated financial statements of the CKE Securitization Entities (Carl's Jr. Restaurants LLC, Carl's Jr. SPV Guarantor LLC, Carl's Jr. Funding LLC, Hardee's Restaurants LLC, Hardee's SPV Guarantor LLC and Hardee's Funding LLC), which comprise (1) the combined consolidated balance sheets as of January 27, 2025 and January 29, 2024, and the related combined consolidated statements of income, members' deficit, and cash flows for the fiscal years then ended, and the related notes to the combined consolidated financial statements; and (2) the combined consolidated balance sheets as of January 29, 2024 and January 30, 2023, and the related combined consolidated statements of income, members' deficit, and cash flows for the fiscal years then ended, and the related notes to the combined consolidated financial statements. Each of the CKE Securitization Entities (other than HR) has agreed absolutely and unconditionally to guarantee to assume our duties and obligations under the franchise agreements entered into by us, should we become unable to perform our duties and obligations. A copy of those guarantees are attached as part of Exhibit J to this disclosure document.
Also attached as Exhibit K are the audited consolidated financial statements for HR's indirect corporate parent, CKE Restaurants Holdings, Inc. ("CKR") (formerly known as CKE Restaurants, Inc.), which comprise (1) consolidated balance sheets as of January 27, 2025 and January 29, 2024, and the related consolidated statements of operations, comprehensive income, equity, and cash flows for the fiscal years then ended, and the related notes to the consolidated financial statements; and (2) consolidated balance sheets as of January 29, 2024 and January 30, 2023, and the related consolidated statements of operations, comprehensive income, equity, and cash flows for the fiscal years then ended, and the related notes to the consolidated financial statements. As noted in Item 1, CKR will be providing required support and services
Source: Item 21 — Financial Statements (FDD pages 84–85)
What This Means (2025 FDD)
I am unable to provide the net cash provided by operating activities for Hardees in fiscal year 2024, according to the 2025 Franchise Disclosure Document. While the document includes the combined consolidated financial statements of the CKE Securitization Entities, including Hardee's Restaurants LLC, and the consolidated financial statements for CKE Restaurants Holdings, Inc., the specific figures for net cash provided by operating activities for Hardees are not detailed in the provided excerpts. A prospective franchisee should review Exhibit K, which contains the complete audited combined consolidated financial statements, or ask the franchisor directly for this information to assess the financial performance and cash flow generation of Hardees.