What was the total amount of Hardees' other current liabilities as of January 31, 2023?
Hardees Franchise · 2025 FDDAnswer from 2025 FDD Document
to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the\neffectiveness of the Company's internal control. Accordingly, no such opinion is expressed.
- Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the consolidated financial statements.
- Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the Company's ability to continue as a going concern for a reasonable period of time.
We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control related matters that we identified during the audit.
KPMG LLP
Nashville, Tennessee April 10, 2024
CKE RESTAURANTS HOLDINGS, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS
(In thousands, except shares and par values)
| Jan | uary 31, 2024 | Jan | uary 31, 2023 | |
|---|---|---|---|---|
| ASSETS | . ' | _ | ||
| Current assets: | ||||
| Cash and cash equivalents | . $ | 130,566 | $ | 107,853 |
| Cash and cash equivalents - restricted | 15,942 | 16,053 | ||
| Accounts receivable, net | 38,438 | 37,541 | ||
| Inventories | 3,029 | 2,999 | ||
| Prepaid expenses | 13,562 | 6,183 | ||
| Other current assets | 80 | 83 | ||
| Total current assets | 201,617 | " | 170,712 | |
| Property and equipment, net | 377,436 | 371,572 | ||
| Operating lease assets | 424,719 | 448,064 | ||
| Goodwill | 539,421 | 540,083 | ||
| Intangible assets, net | 777,538 | 793,030 | ||
| Other assets, net | 40,485 | 29,806 | ||
| Total assets | . $ | 2,361,216 | $ | 2,353,267 |
| LIABILITIES AND EQUITY | ||||
| Current liabilities: | ||||
| Current portion of long-term debt | . $ | 11,800 | $ | 13,700 |
| Current portion of |
Source: Item 21 — Financial Statements (FDD pages 84–85)
What This Means (2025 FDD)
According to Hardees's 2025 Franchise Disclosure Document, the total amount of other current liabilities for Hardees as of January 31, 2023, was $66,753. This figure represents the obligations of Hardees that are expected to be settled within one year.
For a prospective Hardees franchisee, understanding the company's liabilities is crucial. Other current liabilities can include items such as accrued expenses, deferred revenue, and other short-term debts. Monitoring these liabilities helps in assessing the financial health and stability of Hardees.
Franchisees should be aware of how these liabilities might affect Hardees's ability to support its franchisees. A high level of current liabilities compared to current assets could indicate potential liquidity issues, which might impact the services and resources Hardees can provide to its franchisees. Therefore, it is advisable for potential franchisees to review the complete financial statements and discuss any concerns with a financial advisor.