(16) Guarantor/Non-Guarantor (Tables)

9 Months Ended

Oct. 02, 2011

Guarantor Non-Guarantor [Abstract]

Schedule of Condensed Consolidated Balance Sheet, Guarantor, Non Guarantor [Table Text Block] [Table Text Block]

				Guarantor			Non-guarantor
	Parent			Subsidiaries			Subsidiaries			Eliminations			Total
ASSETS
Current assets:
Cash and cash equivalents	$	79,355		$	53,810		$	65,521		$	—		$	198,686
Accounts and notes receivable	320			61,508			21,524			—			83,352
Inventories	—			12,522			10,172			—			22,694
Prepaid expenses and other current assets	3,900			12,434			7,698			—			24,032
Deferred income tax benefit	17,634			20,926			6,507			—			45,067
Advertising funds restricted assets	—			—			76,553			—			76,553
Total current assets	101,209			161,200			187,975			—			450,384
Properties	13,748			1,084,546			443,559			—			1,541,853
Goodwill	—			823,539			65,382			—			888,921
Other intangible assets	21,453			1,285,615			51,506			—			1,358,574
Investments	—			—			102,406			—			102,406
Deferred costs and other assets	32,610			32,384			9,565			—			74,559
Net investment in subsidiaries	2,559,526			381,828			—			(2,941,354		)	—
Deferred income tax benefit	86,423			—			—			(86,423		)	—
Due from affiliate	59,618			—			—			(59,618		)	—
Total assets	$	2,874,587		$	3,769,112		$	860,393		$	(3,087,395	)	$	4,416,697
LIABILITIES AND INVESTED EQUITY
Current liabilities:
Current portion of long-term debt	$	5,228		$	687		$	11,132		$	—		$	17,047
Accounts payable	4,624			52,242			24,282			—			81,148
Accrued expenses and other current liabilities	38,871			128,089			77,340			—			244,300
Advertising funds restricted liabilities	—			—			76,553			—			76,553
Total current liabilities	48,723			181,018			189,307			—			419,048
Long-term debt	1,043,623			310,339			188,722			—			1,542,684
Due to affiliates	—			60,653			29,773			(59,618		)	30,808
Deferred income	—			6,291			5,169			—			11,460
Deferred income taxes	—			541,800			23,095			(86,423		)	478,472
Other liabilities	5,611			86,993			64,991			—			157,595
Invested equity:
Member interest, $0.01 par value; 1,000 shares authorized, one share issued and outstanding	—			—			—			—			—
Other capital	2,423,459			3,244,488			1,077,762			(4,322,250		)	2,423,459
Accumulated deficit	(499,500		)	(515,141		)	(726,097		)	1,241,238			(499,500		)
Advances to The Wendy’s Company	(155,000		)	(155,000		)	—			155,000			(155,000		)
Accumulated other comprehensive income	7,671			7,671			7,671			(15,342		)	7,671
Total invested equity	1,776,630			2,582,018			359,336			(2,941,354		)	1,776,630
Total liabilities and invested equity	$	2,874,587		$	3,769,112		$	860,393		$	(3,087,395	)	$	4,416,697

				Guarantor			Non-guarantor
	Parent			Subsidiaries			Subsidiaries			Eliminations			Total
ASSETS
Current assets:
Cash and cash equivalents	$	142,319		$	160,985		$	42,213		$	—		$	345,517
Accounts and notes receivable	4,841			62,437			3,530			—			70,808
Inventories	—			11,525			983			—			12,508
Prepaid expenses and other current assets	4,809			17,339			1,237			—			23,385
Deferred income tax benefit	37,781			20,927			1,050			—			59,758
Advertising funds restricted assets	—			—			72,116			—			72,116
Total current assets	189,750			273,213			121,129			—			584,092
Properties	11,395			1,087,765			53,457			—			1,152,617
Goodwill	—			826,962			46,016			—			872,978
Other intangible assets	18,480			1,266,698			24,026			—			1,309,204
Investments	19,000			—			95,609			—			114,609
Deferred costs and other assets	27,871			39,760			248			—			67,879
Net investment in subsidiaries	2,479,879			242,444			—			(2,722,323		)	—
Deferred income tax benefit	54,877			—			—			(54,877		)	—
Due from affiliate	67,705			—			—			(67,705		)	—
Total assets	$	2,868,957		$	3,736,842		$	340,485		$	(2,844,905	)	$	4,101,379
LIABILITIES AND INVESTED EQUITY
Current liabilities:
Current portion of long-term debt	$	5,465		$	915		$	271		$	—		$	6,651
Accounts payable	12,262			50,552			6,343			—			69,157
Accrued expenses and other current liabilities	40,279			144,004			9,227			—			193,510
Advertising funds restricted liabilities	—			—			72,116			—			72,116
Total current liabilities	58,006			195,471			87,957			—			341,434
Long-term debt	1,016,888			318,136			3,466			—			1,338,490
Due to affiliates	—			83,489			3,617			(67,705		)	19,401
Deferred income	—			12,765			372			—			13,137
Deferred income taxes	—			541,504			15,971			(54,877		)	502,598
Other liabilities	4,550			84,123			8,133			—			96,806
Invested equity:
Member interest, $0.01 par value; 1,000 shares authorized, one share issued and outstanding	—			—			—			—			—
Other capital	2,436,432			2,417,177			197,630			(2,614,807		)	2,436,432
(Accumulated deficit) retained earnings	(487,186		)	243,910			28,072			(271,982		)	(487,186		)
Advances to The Wendy’s Company	(155,000		)	(155,000		)	—			155,000			(155,000		)
Accumulated other comprehensive loss	(4,733		)	(4,733		)	(4,733		)	9,466			(4,733		)
Total invested equity	1,789,513			2,501,354			220,969			(2,722,323		)	1,789,513
Total liabilities and invested equity	$	2,868,957		$	3,736,842		$	340,485		$	(2,844,905	)	$	4,101,379

Schedule of Condensed Consolidated Statement of Operations, Guarantor, Non Guarantor [Table Text Block] [Table Text Block]

				Guarantor			Non-guarantor
	Parent			Subsidiaries			Subsidiaries			Eliminations			Total
Revenues:
Sales	$	—		$	1,409,928		$	178,207		$	(87	)	$	1,588,048
Franchise revenues	—			213,772			14,534			(14		)	228,292
	—			1,623,700			192,741			(101		)	1,816,340
Costs and expenses:
Cost of sales	—			1,205,511			156,158			—			1,361,669
General and administrative	11,251			170,808			25,314			—			207,373
Transaction related costs	29,542			—			—			—			29,542
Depreciation and amortization	7,886			74,572			7,932			—			90,390
Impairment of long-lived assets	—			7,890			372			—			8,262
Other operating expense (income), net	—			8,223			(6,641		)	—			1,582
	48,679			1,467,004			183,135			—			1,698,818
Operating (loss) profit	(48,679		)	156,696			9,606			(101		)	117,522
Interest expense	(67,758		)	(17,103		)	(393		)	—			(85,254		)
Other income (expense), net	136			12,291			(11,724		)	—			703
Equity in income (loss) of subsidiaries	89,796			(5,275		)	—			(84,521		)	—
(Loss) income from continuing operations  before income taxes	(26,505		)	146,609			(2,511		)	(84,622		)	32,971
Benefit from (provision for) income taxes	47,668			(57,830		)	(2,764		)	—			(12,926		)
Income (loss) from continuing operations	21,163			88,779			(5,275		)	(84,622		)	20,045
Discontinued operations:
Income from discontinued operations, net      of income taxes	—			—			1,017			101			1,118
Loss on disposal of discontinued operations, net      of income taxes	(8,849		)	—			—			—			(8,849		)
(Loss) income from discontinued operations,      net of income taxes	(8,849		)	—			1,017			101			(7,731		)
Net income (loss)	$	12,314		$	88,779		$	(4,258	)	$	(84,521	)	$	12,314

				Guarantor			Non-guarantor
	Parent			Subsidiaries			Subsidiaries			Eliminations			Total
Revenues:
Sales	$	—		$	467,668		$	57,414		$	—		$	525,082
Franchise revenues	—			70,706			4,947			(27		)	75,626
	—			538,374			62,361			(27		)	600,708
Costs and expenses:
Cost of sales	—			402,988			48,331			—			451,319
General and administrative	—			62,739			9,621			—			72,360
Depreciation and amortization	3,116			26,397			2,661			—			32,174
Impairment of long-lived assets	—			17,213			3,708			—			20,921
Other operating expense (income), net	—			3,171			(1,618		)	—			1,553
	3,116			512,508			62,703			—			578,327
Operating (loss) profit	(3,116		)	25,866			(342		)	(27		)	22,381
Interest expense	(22,641		)	(6,000		)	(214		)	—			(28,855		)
Other income (expense), net	—			4,146			(3,912		)	—			234
Equity in income (loss) of subsidiaries	10,850			(9,395		)	—			(1,455		)	—
(Loss) income from continuing operations  before income taxes	(14,907		)	14,617			(4,468		)	(1,482		)	(6,240		)
Benefit from (provision for) income taxes	15,264			(3,588		)	(4,927		)	—			6,749
Income (loss) from continuing operations	357			11,029			(9,395		)	(1,482		)	509
Discontinued operations:
Loss from discontinued operations, net of income taxes	—			—			(179		)	27			(152		)
Net income (loss)	$	357		$	11,029		$	(9,574	)	$	(1,455	)	$	357

				Guarantor			Non-guarantor
	Parent			Subsidiaries			Subsidiaries			Eliminations			Total
Revenues:
Sales	$	—		$	1,400,788		$	169,452		$	—		$	1,570,240
Franchise revenues	—			208,415			14,228			(27		)	222,616
	—			1,609,203			183,680			(27		)	1,792,856
Costs and expenses:
Cost of sales	—			1,179,325			145,645			—			1,324,970
General and administrative	—			191,457			33,749			—			225,206
Depreciation and amortization	9,341			77,983			7,731			—			95,055
Impairment of long-lived assets	—			17,695			3,708			—			21,403
Other operating expense (income), net	—			8,315			(5,428		)	—			2,887
	9,341			1,474,775			185,405			—			1,669,521
Operating (loss) profit	(9,341		)	134,428			(1,725		)	(27		)	123,335
Interest expense	(56,263		)	(23,132		)	(9,357		)	—			(88,752		)
Loss on early extinguishment of debt	—			(20,430		)	(5,767		)	—			(26,197		)
Other income (expense), net	157			12,293			(11,451		)	—			999
Equity in income (loss) of subsidiaries	26,830			(38,142		)	—			11,312			—
(Loss) income from continuing operations  before income taxes	(38,617		)	65,017			(28,300		)	11,285			9,385
Benefit from (provision for) income taxes	45,789			(32,597		)	(9,842		)	—			3,350
Income (loss) from continuing operations	7,172			32,420			(38,142		)	11,285			12,735
Discontinued operations:
Loss from discontinued operations, net of income taxes	—			—			(5,590		)	27			(5,563		)
Net income (loss)	$	7,172		$	32,420		$	(43,732	)	$	11,312		$	7,172

				Guarantor			Non-guarantor
	Parent			Subsidiaries			Subsidiaries			Eliminations			Total
Revenues:
Sales	$	—		$	472,289		$	62,236		$	—		$	534,525
Franchise revenues	—			71,735			5,156			—			76,891
	—			544,024			67,392			—			611,416
Costs and expenses:
Cost of sales	—			404,920			53,080			—			458,000
General and administrative	11,251			47,418			4,063			—			62,732
Transaction related costs	25,317			—			(1,746		)	—			23,571
Depreciation and amortization	2,859			25,206			2,693			—			30,758
Other operating expense (income), net	—			2,678			(2,316		)	—			362
	39,427			480,222			55,774			—			575,423
Operating (loss) profit	(39,427		)	63,802			11,618			—			35,993
Interest expense	(22,234		)	(5,822		)	(115		)	—			(28,171		)
Other income (expense), net	136			4,260			(4,095		)	—			301
Equity in income of subsidiaries	42,734			5,377			—			(48,111		)	—
(Loss) income from continuing operations      before income taxes	(18,791		)	67,617			7,408			(48,111		)	8,123
Benefit from (provision for) income taxes	22,260			(23,442		)	(2,031		)	—			(3,213		)
Income from continuing operations	3,469			44,175			5,377			(48,111		)	4,910
Discontinued operations:
Income (loss) from discontinued operations, net      of income taxes	—			—			(1,441		)	—			(1,441		)
Loss on disposal of discontinued operations, net      of income taxes	(5,069		)	—			—			—			(5,069		)
Loss from discontinued operations, net      of income taxes	(5,069		)	—			(1,441		)	—			(6,510		)
Net (loss) income	$	(1,600	)	$	44,175		$	3,936		$	(48,111	)	$	(1,600	)

Schedule of Condensed Consolidated Statement of Cash Flows, Guarantor, Non Guarantor [Table Text Block] [Table Text Block]

				Guarantor			Non-guarantor
	Parent			Subsidiaries			Subsidiaries			Eliminations			Total
Cash flows from operating activities:
Net income (loss)	$	7,172		$	32,420		$	(43,732	)	$	11,312		$	7,172
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:
Equity in (income) loss from operations of subsidiaries	(26,830		)	38,142			—			(11,312		)	—
Depreciation and amortization	9,341			77,983			48,727			—			136,051
Impairment of long-lived assets	—			17,695			23,729			—			41,424
Accretion of long-term debt	1,229			11,571			213			—			13,013
Write-off and amortization of deferred financing costs	3,133			—			7,245			—			10,378
Net receipt of deferred vendor incentives	—			5,009			5,087			—			10,096
Share-based compensation provision	2,950			4,330			2,561			—			9,841
Distributions received from joint venture	—			—			9,718			—			9,718
Non-cash rent expense (credit)	—			7,227			(75		)	—			7,152
Provision for doubtful accounts	—			2,163			5,423			—			7,586
Tax sharing receipt from (payment to) affiliate, net	32,000			(32,000		)	—			—			—
Tax sharing (receivable from) payable to affiliate, net	(38,855		)	30,182			—			—			(8,673		)
Equity in earnings in joint venture	—			—			(7,127		)	—			(7,127		)
Other operating transactions with affiliates	(734		)	(30,430		)	24,333			—			(6,831		)
Deferred income tax benefit, net	(1,485		)	(3,433		)	—			—			(4,918		)
Other, net	2,527			1,402			(5,660		)	—			(1,731		)
Changes in operating assets and liabilities net:
Accounts and notes receivable	(42		)	3,042			(9,721		)	—			(6,721		)
Inventories	—			570			1,254			—			1,824
Prepaid expenses and other current assets	1,185			(4,077		)	(4,494		)	—			(7,386		)
Accounts payable	712			(3,875		)	(4,126		)	—			(7,289		)
Accrued expenses and other current liabilities	(25,060		)	(9,895		)	2,339			—			(32,616		)
Net cash (used in) provided by operating activities	(32,757		)	148,026			55,694			—			170,963
Cash flows from investing activities:
Capital expenditures	(12,890		)	(40,237		)	(41,609		)	—			(94,736		)
Proceeds from dispositions	—			2,174			2,220			—			4,394
Other, net	—			—			1,369			—			1,369
Net cash used in investing activities	(12,890		)	(38,063		)	(38,020		)	—			(88,973		)
Cash flows from financing activities:
Proceeds from long-term debt	497,500			—			161			—			497,661
Repayments of long-term debt	(1,411		)	(200,551		)	(260,869		)	—			(462,831		)
Dividends paid to The Wendy’s Company	(68,700		)	(361,000		)	(14,000		)	—			(443,700		)
Capital contributions from Parent	(474,569		)	215,000			259,569			—			—
Redemption of preferred stock	—			19,877			(19,877		)	—			—
Deferred financing costs	(16,286		)	—			—			—			(16,286		)
Net cash used in financing activities	(63,466		)	(326,674		)	(35,016		)	—			(425,156		)
Net cash used in operations before effect of exchange rate changes on cash	(109,113		)	(216,711		)	(17,342		)	—			(343,166		)
Effect of exchange rate changes on cash	—			—			894			—			894
Net decrease in cash and cash equivalents	(109,113		)	(216,711		)	(16,448		)	—			(342,272		)
Cash and cash equivalents at beginning of period	237,607			255,230			46,027			—			538,864
Cash and cash equivalents at end of period	$	128,494		$	38,519		$	29,579		$	—		$	196,592

				Guarantor			Non-guarantor
	Parent			Subsidiaries			Subsidiaries			Eliminations			Total
Cash flows from operating activities:
Net income (loss)	$	12,314		$	88,779		$	(4,258	)	$	(84,521	)	$	12,314
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:
Equity in (income) loss from operations of subsidiaries	(89,796		)	5,275			—			84,521			—
Depreciation and amortization	7,886			74,572			30,045			—			112,503
Net receipt of deferred vendor incentives	—			6,789			7,087			—			13,876
Share-based compensation provision	8,480			3,821			672			—			12,973
Distributions received from joint venture	—			—			10,784			—			10,784
Impairment of long-lived assets	—			7,890			1,930			—			9,820
Loss on disposal of Arby's	8,849			—			—			—			8,849
Deferred income tax provision (benefit), net	8,856			(826		)	570			—			8,600
Non-cash rent expense (credit)	—			6,434			(268		)	—			6,166
Accretion of long-term debt	1,590			4,383			164			—			6,137
Write-off and amortization of deferred financing costs	4,854			—			—			—			4,854
Tax sharing (receivable from) payable to affiliate, net	(57,495		)	59,932			—			—			2,437
(Recovery of) provision for doubtful accounts	—			(319		)	2,323			—			2,004
Tax sharing receipt from (payment to) affiliate, net	36,000			(36,000		)	—			—			—
Other operating transactions with affiliates	58,509			(2,651		)	(60,224		)	—			(4,366		)
Equity in earnings in joint ventures, net	—			—			(7,817		)	—			(7,817		)
Tax sharing payment to The Wendy's Company	(13,078		)	—			—			—			(13,078		)
Other, net	(948		)	2,342			(1,203		)	—			191
Changes in operating assets and liabilities:
Accounts and notes receivable	(806		)	(1,891		)	(3,967		)	—			(6,664		)
Inventories	(6		)	1,031			(1,235		)	—			(210		)
Prepaid expenses and other current assets	(1,727		)	(3,551		)	(3,242		)	—			(8,520		)
Accounts payable	2,370			527			6,063			—			8,960
Accrued expenses and other current liabilities	(6,749		)	9,037			(2,801		)	—			(513		)
Net cash (used in) provided by operating activities	(20,897		)	225,574			(25,377		)	—			179,300
Cash flows from investing activities:
Proceeds from sale of Arby's, net of Arby's cash	110,238			—			(7,076		)	—			103,162
Proceeds from dispositions	98			2,865			836			—			3,799
Capital expenditures	(7,602		)	(71,712		)	(12,599		)	—			(91,913		)
Restaurant acquisitions	—			(6,613		)	—			—			(6,613		)
Franchise incentive loans	—			(1,269		)	—			—			(1,269		)
Investment in joint venture	—			(1,183		)	—			—			(1,183		)
Other, net	—			—			(245		)	—			(245		)
Net cash provided by (used in) investing activities	102,734			(77,912		)	(19,084		)	—			5,738
Cash flows from financing activities:
Repayments of long-term debt	(28,816		)	(487		)	(6,291		)	—			(35,594		)
Capital contribution from Parent	(30,000		)	—			30,000			—			—
Dividend paid to Parent	40,000			(40,000		)	—			—			—
Deferred financing costs	(57		)	—			—			—			(57		)
Net cash (used in) provided by financing activities	(18,873		)	(40,487		)	23,709			—			(35,651		)
Net cash provided by (used in) operations before effect of exchange rate changes on cash	62,964			107,175			(20,752		)	—			149,387
Effect of exchange rate changes on cash	—			—			(2,556		)	—			(2,556		)
Net increase (decrease) in cash and cash equivalents	62,964			107,175			(23,308		)	—			146,831
Cash and cash equivalents at beginning of period	79,355			53,810			65,521			—			198,686
Cash and cash equivalents at end of period	$	142,319		$	160,985		$	42,213		$	—		$	345,517