What was the total value of Hardees' land holdings, net of depreciation, as of January 31, 2025?
Hardees Franchise · 2025 FDDAnswer from 2025 FDD Document
consolidated financial statements.
- Obtain an understanding of internal control relevant 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 ingly, 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 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.
Nashville, Tennessee April 2, 2025
CKE RESTAURANTS HOLDINGS, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS
(In thousands, except shares and par values)
| Jan | uary 31, 2025 | Janı | uary 31, 2024 | |
|---|---|---|---|---|
| ASSETS | ||||
| Current assets: | ||||
| Cash and cash equivalents | . $ | 52,718 | $ | 130,566 |
| Cash and cash equivalents - restricted | • | 18,147 | 15,942 | |
| Accounts receivable, net | 44,799 | 38,438 | ||
| Inventories | 3,386 | 3,029 | ||
| Prepaid expenses | 9,843 | 13,562 | ||
| Other current assets | _ | 80 | ||
| Total current assets | 128,893 | 201,617 | ||
| Property and equipment, net | 371,065 | 377,436 | ||
| Operating lease assets | ٠ | 394,542 | 424,719 | |
| Goodwill | • | 539,421 | 539,421 | |
| Intangible assets, net | 760,749 | 777,538 | ||
| Other assets, net | 39,316 | 40,485 | ||
| Total assets | . $ | 2,233,986 | $ | 2,361,216 |
| LIADH ITHECAND EQUITA | ||||
| LIABILITIES AND EQUITY Current liabilities: | ||||
| Current portion of long-term debt | $ | 11,800 | $ | 11,800 |
| Current portion of finance leases | 1,512 | Ψ | 1,515 | |
| Current portion of operating leases | 77,505 | 79,623 | ||
| Accounts payable | 24,652 | 23,855 | ||
| O |
Source: Item 21 — Financial Statements (FDD pages 84–85)
What This Means (2025 FDD)
According to Hardees's 2025 Franchise Disclosure Document, the company's property and equipment, net of depreciation, was valued at $371,065 as of January 31, 2025. This figure represents the book value of Hardees's property, plant, and equipment after accounting for accumulated depreciation. It reflects the company's investment in its physical assets, such as land, buildings, and equipment, used in its operations.
For a prospective Hardees franchisee, this number provides insight into the scale of Hardees's owned assets and the level of capital investment typically required to operate a Hardees business. However, it is important to note that this figure represents the aggregate value for the entire Hardees system and not necessarily the investment required for a single franchise location. The franchisee will need to make their own investments in property and equipment.
It is also important to consider that the value of property and equipment can fluctuate over time due to factors such as depreciation, market conditions, and capital expenditures. Therefore, a prospective franchisee should conduct their own due diligence to assess the current value of Hardees's assets and the potential risks and opportunities associated with investing in a Hardees franchise.