Acquisitions and Purchase Accounting (Tables)

12 Months Ended

Dec. 31, 2013

Business Combinations [Abstract]

Purchase price allocation recorded

The purchase price allocation recorded in connection with the Transactions is presented below (in thousands):

Cash and cash equivalents	$	11,962
Accounts receivable	8,537
Inventories	7,296
Prepaid expenses and other current assets	3,399
Income taxes receivable	698
Deferred income tax asset	7,385
Facilities and equipment	138,952
Franchise rights	627,000
Goodwill	289,446
Other assets	24,686
Accounts payable	(24,631		)
Other accrued liabilities	(59,940		)
Other deferred items	(41,402		)
Insurance reserves	(13,969		)
Deferred income tax liability	(211,786		)
Total consideration	767,633

The purchase price, net of cash acquired, was allocated as follows (in thousands):

Franchise rights	$	32,786
Fixed assets	17,906
Receivable from Wendy’s	1,536
Favorable (unfavorable) leases, net	470
Goodwill	2,121
Other	1,103
Total purchase price	$	55,922
Estimated annual rent(1)	$	8,038

⁽¹⁾ All of the restaurants are leased.

The purchase price, net of cash acquired, was allocated as follows (in thousands):

Franchise rights	$	10,164
Fixed assets	7,495
Goodwill	1,056
Other	656
Total purchase price	$	19,371

Weighted average amortization period for all intangible assets

The weighted average amortization period for all intangible assets as of the acquisition date was as follows:

	Years
Franchise rights	41
Favorable leasehold interests	15
Unfavorable leasehold interests	9

Schedule of pro forma net income

The pro forma results of operations are not necessarily indicative of the results that would have occurred had these acquisitions been consummated at the beginning of the periods presented, nor are they necessarily indicative of future operating results.

	unaudited, (in thousands)
	53 Weeks Ended		52 Weeks Ended
	December 31, 2013		December 25, 2012
Total sales	$	1,188,935	$	1,167,757
Net income	$	35,701	$	22,163