What was the total amount of cash provided by investing activities for Hardees in fiscal year 2023?
Hardees Franchise · 2025 FDDAnswer from 2025 FDD Document
23 | 481,766 | | Operating income | 171,932 | 163,318 | | Interest expense | (61,863) | (62,752) | | Other income, net | 4,790 | 2,057 | | Income before income taxes | 114,859 | 102,623 | | Income tax expense | 5,914 | 4,826 | | Net income | $ 108,945 | $ 97,797 |
THE CKE SECURITIZATION ENTITIES COMBINED CONSOLIDATED STATEMENTS OF MEMBERS' DEFICIT (In thousands)
| Balance as of January 31, 2022 | $ (251,817) |
|---|---|
| Capital contributions | 45,394 |
| Distributions to members | (139,428) |
| Net income | 97,797 |
| Cumulative effect of change in accounting principle (Note 9) | (452) |
| Balance as of January 31, 2023 | (248,506) |
| Capital contributions | 35,679 |
| Distributions to members | (133,746) |
| Net income | 108,945 |
| Balance as of January 31, 2024 | $ (237,628) |
THE CKE SECURITIZATION ENTITIES COMBINED CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands)
| Fiscal 2024 | Fiscal 2023 | |
|---|---|---|
| Cash flows from operating activities: | ||
| Net income | . $ 108,945 | $ 97,797 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation and amortization | . 46,692 | 44,580 |
| Amortization of deferred financing costs | . 3,419 | 3,352 |
| Gain on early termination of lease agreement associated with a financing method sale-leaseback restaurant property | . — | (1,285) |
| Gain on refranchising transaction | . (817) | _ |
| (Gain) loss on disposal of other property and equipment | . (602) | 512 |
| Provision for losses on impairments, accounts receivable and other items, net | 4,806 | 318 |
| Net changes in operating assets and liabilities: | ||
| Receivables, inventories, prepaid expenses and other current and non-current assets | . (1,985) | 4,247 |
| Accounts payable and other current and long-term liabilities | . (3,089) | (13,013) |
| Operating lease assets and liabilities, net | . 1,096 | 511 |
| Net cash provided by operating activities | . 158,465 | 137,019 |
| Cash flows from investing activities: | ||
| Proceeds from refranchising transactions | . 2,092 | _ |
| Proceeds from sale of other |
Source: Item 21 — Financial Statements (FDD pages 84–85)
What This Means (2025 FDD)
According to Hardees's 2025 Franchise Disclosure Document, the net cash provided by investing activities during fiscal year 2023 was $2,172.
Investing activities generally include the purchase and sale of long-term assets such as property, equipment, and investments. Positive cash flow from investing activities suggests that Hardees generated cash from selling assets or investments during that period.
Prospective franchisees should consider this information in the context of Hardees's overall financial performance. Understanding the sources of cash flow, whether from operations, investing, or financing activities, can provide insights into the company's financial stability and growth strategies. It's also important to compare these figures with previous years and industry benchmarks to assess trends and relative performance.