What was the reported property and equipment, net, for Hardees Restaurants LLC?
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 reported property and equipment, net, for Hardee's Restaurants LLC is $270,737. This figure represents the net book value of Hardees's property and equipment after accounting for accumulated depreciation.
For a prospective Hardees franchisee, this number provides insight into the scale of Hardees's investments in its physical assets. It reflects the resources Hardees has dedicated to infrastructure like buildings, equipment, and leasehold improvements. Keep in mind that this value is 'net,' meaning depreciation has already been factored in, so it represents the current book value rather than the original cost.
It's important to note that this figure is just one component of Hardees's overall financial health. A potential franchisee should analyze this number in conjunction with other financial metrics, such as revenue, expenses, and liabilities, to get a comprehensive understanding of Hardees's financial position. Additionally, it would be prudent to compare this figure to those of other similar franchise systems to gauge whether Hardees's investment in property and equipment is in line with industry standards.