What was the total amount of salaries, wages, and other benefits reported by Hardees in 2023?
Hardees Franchise · 2025 FDDAnswer from 2025 FDD Document
| _ | 2024 | 2023 |
|---|---|---|
| Salaries, wages and other benefits | $ 15,610 | $ 8,802 |
| Income taxes payable | 13,955 | 9,887 |
| Financing method sale-leaseback liability, current portion | 11,287 | 10,170 |
| Accrued interest | 5,663 | 5,934 |
| Gift card and gift certificate liabilities | 4,479 | 4,651 |
| Estimated liability for self-insurance, current portion | 3,545 | 5,813 |
| Deferred franchise and development fees | 3,454 | 3,376 |
| Accrued property taxes | 3,089 | 4,573 |
| State sales tax | 2,017 | 2,288 |
| Utilities | 1,004 | 1,028 |
| Other accrued liabilities | 7,538 | 10,231 |
| Total other current liabilities | $ 71,641 | $ 66,753 |
| _ | 2024 | 2023 |
|---|---|---|
| Financing method sale-leaseback liability, current portion | $ 11,287 | $ 10,170 |
| Accrued interest | 5,663 | 5,933 |
| Deferred franchise and development fees | 3,477 | 3,399 |
| Salaries, wages and other benefits | 3,231 | 3,484 |
| Accrued property taxes | 2,952 | 4,449 |
| State sales tax | 1,938 | 2,229 |
| Utilities | 1,004 | 1,028 |
| Income taxes payable | 545 | 368 |
| Other accrued liabilities | 4,956 | 4,256 |
| Total other current liabilities | $ 35,053 | $ 35,316 |
Inflationary pressures on labor and commodity price increases directly impacted our results of operations during the year ended January 31, 2024 and January 31, 2023.
Source: Item 21 — Financial Statements (FDD pages 84–85)
What This Means (2025 FDD)
According to Hardees's 2025 Franchise Disclosure Document, there are two entries for 'Salaries, wages and other benefits' in the 2023 financial statements. One table lists the amount as $8,802, while another table lists it as $3,484. These figures likely represent different segments of Hardees's operations or different accounting perspectives within the company's financial reporting.
It is important to note that these figures are presented within the context of 'Total other current liabilities,' suggesting they may represent accrued or outstanding amounts rather than the total expenditure on salaries, wages, and benefits for the entire year. The FDD also mentions that inflationary pressures on labor directly impacted Hardees' results of operations during the years ended January 31, 2024, and January 31, 2023.
A prospective franchisee should seek clarification from Hardees regarding the discrepancy in these figures and the scope of what these numbers represent. Understanding the complete picture of Hardees's labor costs is crucial for assessing the financial viability of a franchise location.