What was the reported net total property and equipment value for Hardees in 2023?
Hardees Franchise · 2025 FDDAnswer from 2025 FDD Document
| | (86,871) | 129,113 | | Long-term debt, less current portion | ' | , | | - 45,715 | , | _ | (80,871) | 1,112,394 | | Finance leases, less current portion | | ' | _ | - - 15,783 | · · · · · · · · · · · · · · · · · · · | _ | _ | 21,279 | | • | | | _ | - 13,783 - 77,068 | | _ | _ | 314,846 | | Operating leases, less current portion | · · · · · · · · · · · · · · · · · · · | | _ | | | | | | | Other long-term liabilities | | | | - 171,552 | | | (9/, 971) | 235,470 | | Total liabilities | 378,238 | 622,0 | - | 310,118 | 589,566 | · | (86,871) | 1,813,102 | | Members' equity (deficit): | 402.261 | (500.0) | 17) | 500.046 | (505.020) | | | (241, 626) | | Members' equity (deficit) | 403,361 | | | 523,849 | | | | (241,636) | | Total liabilities and members' deficit | $ 781,599 | $ 39,14 | | - $ 833,967 | $ 3,627 | | $ (86,871) | $ 1,571,466 |
THE CKE SECURITIZATION ENTITIES COMBINING CONSOLIDATING BALANCE SHEET
(In thousands)
| Carl's Jr. Restaurants LLC | Carl's Jr. Funding LLC | Carl's Jr. SPV Guarantor LLC | Hardee's Restaurants LLC | Hardee's Funding LLC | Hardee's SPV Guarantor LLC | Eliminations | The CKE Securitization Entities | |
|---|---|---|---|---|---|---|---|---|
| ASSETS | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ 2,117 | $ 3,996 | $ | $ 3,685 | $ 2,542 | $ | $ | $ 12,340 |
| Cash and cash equivalents - restricted | 15,942 | _ | _ | _ | _ | _ | 15,942 | |
| Accounts receivable, net | 11,160 | _ | _ | 10,588 | _ | _ | _ | 21,748 |
| Due from affiliates | 11,625 | 20,328 | _ | 56,241 | 238 | _ | (88,007) | 425 |
| Inventories | 559 | _ | _ | 2,293 | _ | _ | 2,852 | |
| Prepaid expenses | 112 | 22 | _ | 314 | 22 | _ | 470 | |
| Other current assets | 79 | _ | _ | _ | _ | _ | 79 | |
| Total current assets | 25,652 | 40,288 | _ | 73,121 | 2,802 | _ | (88,007) | 53,856 |
| Property and equipment, net | 83,156 | _ | _ | 270,737 | _ | _ | 353,893 | |
| Operating lease assets | 304,577 | _ | _ | 91,121 | _ | _ | _ | 395,698 |
| Intangible assets, net | 378,456 | _ | _ | 399,082 | _ | _ | _ | 777,538 |
| Other assets, net | 16,259 | _ | _ | 15,599 | _ | _ | _ | 31,858 |
| Total assets | $ 808,100 | $ 40,288 | $ | $ 849,660 | $ 2,802 | $ | $ (88,007) | $ 1,612,843 |
| LIABILITIES AND MEMBERS' DEFICIT | ||||||||
| Current liabilities: | ||||||||
| Current portion of long-term debt | $ — | $ 5,900 | $ — | $ | $ 5,900 | $ | $ | $ 11,800 |
| Current portion of finance leases | 698 | _ | _ | 817 | _ | _ | _ | 1,515 |
| Current portion of operating leases | 57,919 | _ | _ | 15,854 | _ | _ | _ | 73,773 |
| Accounts payable | 2,676 | _ | _ | 1,791 | _ | _ | _ | 4,467 |
| Due to affi |
Source: Item 21 — Financial Statements (FDD pages 84–85)
What This Means (2025 FDD)
According to Hardees's 2025 Franchise Disclosure Document, the net total property and equipment for Hardees Restaurants LLC as of January 31, 2024, was $270,737. This figure represents the value of Hardees's physical assets, such as buildings, equipment, and land, after accounting for accumulated depreciation. Since the date provided is January 31, 2024, this figure effectively reflects the financial position at the close of fiscal year 2023.
For a prospective Hardees franchisee, understanding the net property and equipment value is crucial for assessing the financial health and capital intensity of the Hardees brand. A high value may indicate significant investments in infrastructure and technology, which could translate to better operational efficiency or higher entry costs for franchisees. Conversely, a lower value might suggest older facilities or a different strategic approach to asset management.
It is important to note that this figure represents the aggregate value for Hardees Restaurants LLC and not the investment required for a single franchise location. Prospective franchisees should refer to Item 7 of the FDD for detailed information on the estimated initial investment, including property and equipment costs specific to their franchise location. Additionally, they should inquire about the age and condition of existing equipment and any planned capital expenditures to maintain or upgrade facilities.