XML 74 R54.htm IDEA: XBRL DOCUMENT v2.3.0.15
(16) Guarantor/Non-Guarantor Statements of Cash Flows (Details) (Wendy's Restaurants, LLC [Member], USD $)
In Thousands
9 Months Ended
Oct. 02, 2011
Oct. 03, 2010
Cash flows from operating activities:  
Net income (loss)$ 12,314$ 7,172
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:  
Equity in (income) loss from operations of subsidiaries00
Depreciation and amortization112,503136,051
Net receipt of deferred vendor incentives13,87610,096
Share-based compensation provision12,9739,841
Distributions received from joint venture10,7849,718
Impairment of long-lived assets9,82041,424
Loss on disposal of Arby’s8,8490
Deferred income tax (benefit) provision, net8,600(4,918)
Non-cash rent expense (credit)6,1667,152
Accretion of long-term debt6,13713,013
Write-off and amortization of deferred financing costs4,85410,378
Tax sharing (receivable from) payable to parent, net2,437(8,673)
Provision for (recovery of) doubtful accounts2,0047,586
Tax sharing receipt from (payment to) affiliate, net00
Other operating transactions with affiliates(4,366)(6,831)
Equity in earnings in joint ventures, net(7,817)(7,127)
Tax sharing payment to The Wendy's Company(13,078)0
Other, net191(1,731)
Changes in operating assets and liabilities:  
Accounts and notes receivable(6,664)(6,721)
Inventories(210)1,824
Prepaid expenses and other current assets(8,520)(7,386)
Accounts payable8,960(7,289)
Accrued expenses and other current liabilities(513)(32,616)
Net cash provided by operating activities179,300170,963
Cash flows from investing activities:  
Proceeds from sale of Arby’s, net103,1620
Proceeds from dispositions3,7994,394
Capital expenditures(91,913)(94,736)
Restaurant acquisitions(6,613)0
Franchise incentive loans(1,269)0
Investment in joint venture(1,183)0
Other, net(245)1,369
Net cash provided by (used in) investing activities5,738(88,973)
Cash flows from financing activities:  
Proceeds from long-term debt0497,661
Repayments of long-term debt(35,594)(462,831)
Dividends paid to The Wendy's Company0(443,700)
Capital contribution from Parent00
Dividend paid to Parent0 
Redemption of preferred stock 0
Deferred financing costs(57)(16,286)
Net cash used in financing activities(35,651)(425,156)
Net cash (used in) provided by operations before effect of exchange rate changes on cash149,387(343,166)
Effect of exchange rate changes on cash(2,556)894
Net increase (decrease) in cash and cash equivalents146,831(342,272)
Cash and cash equivalents at beginning of period198,686538,864
Cash and cash equivalents at end of period345,517196,592
Parent [Member]
  
Cash flows from operating activities:  
Net income (loss)12,3147,172
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:  
Equity in (income) loss from operations of subsidiaries(89,796)(26,830)
Depreciation and amortization7,8869,341
Net receipt of deferred vendor incentives00
Share-based compensation provision8,4802,950
Distributions received from joint venture00
Impairment of long-lived assets00
Loss on disposal of Arby’s8,849 
Deferred income tax (benefit) provision, net8,856(1,485)
Non-cash rent expense (credit)00
Accretion of long-term debt1,5901,229
Write-off and amortization of deferred financing costs4,8543,133
Tax sharing (receivable from) payable to parent, net(57,495)(38,855)
Provision for (recovery of) doubtful accounts00
Tax sharing receipt from (payment to) affiliate, net36,00032,000
Other operating transactions with affiliates58,509(734)
Equity in earnings in joint ventures, net00
Tax sharing payment to The Wendy's Company(13,078) 
Other, net(948)2,527
Changes in operating assets and liabilities:  
Accounts and notes receivable(806)(42)
Inventories(6)0
Prepaid expenses and other current assets(1,727)1,185
Accounts payable2,370712
Accrued expenses and other current liabilities(6,749)(25,060)
Net cash provided by operating activities(20,897)(32,757)
Cash flows from investing activities:  
Proceeds from sale of Arby’s, net110,238 
Proceeds from dispositions980
Capital expenditures(7,602)(12,890)
Restaurant acquisitions0 
Franchise incentive loans0 
Investment in joint venture0 
Other, net00
Net cash provided by (used in) investing activities102,734(12,890)
Cash flows from financing activities:  
Proceeds from long-term debt 497,500
Repayments of long-term debt(28,816)(1,411)
Dividends paid to The Wendy's Company (68,700)
Capital contribution from Parent(30,000)(474,569)
Dividend paid to Parent40,000 
Redemption of preferred stock 0
Deferred financing costs(57)(16,286)
Net cash used in financing activities(18,873)(63,466)
Net cash (used in) provided by operations before effect of exchange rate changes on cash62,964(109,113)
Effect of exchange rate changes on cash00
Net increase (decrease) in cash and cash equivalents62,964(109,113)
Cash and cash equivalents at beginning of period79,355237,607
Cash and cash equivalents at end of period142,319128,494
Guarantor Subsidiaries [Member]
  
Cash flows from operating activities:  
Net income (loss)88,77932,420
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:  
Equity in (income) loss from operations of subsidiaries5,27538,142
Depreciation and amortization74,57277,983
Net receipt of deferred vendor incentives6,7895,009
Share-based compensation provision3,8214,330
Distributions received from joint venture00
Impairment of long-lived assets7,89017,695
Loss on disposal of Arby’s0 
Deferred income tax (benefit) provision, net(826)(3,433)
Non-cash rent expense (credit)6,4347,227
Accretion of long-term debt4,38311,571
Write-off and amortization of deferred financing costs00
Tax sharing (receivable from) payable to parent, net59,93230,182
Provision for (recovery of) doubtful accounts(319)2,163
Tax sharing receipt from (payment to) affiliate, net(36,000)(32,000)
Other operating transactions with affiliates(2,651)(30,430)
Equity in earnings in joint ventures, net00
Tax sharing payment to The Wendy's Company0 
Other, net2,3421,402
Changes in operating assets and liabilities:  
Accounts and notes receivable(1,891)3,042
Inventories1,031570
Prepaid expenses and other current assets(3,551)(4,077)
Accounts payable527(3,875)
Accrued expenses and other current liabilities9,037(9,895)
Net cash provided by operating activities225,574148,026
Cash flows from investing activities:  
Proceeds from sale of Arby’s, net0 
Proceeds from dispositions2,8652,174
Capital expenditures(71,712)(40,237)
Restaurant acquisitions(6,613) 
Franchise incentive loans(1,269) 
Investment in joint venture(1,183) 
Other, net00
Net cash provided by (used in) investing activities(77,912)(38,063)
Cash flows from financing activities:  
Proceeds from long-term debt 0
Repayments of long-term debt(487)(200,551)
Dividends paid to The Wendy's Company (361,000)
Capital contribution from Parent0215,000
Dividend paid to Parent(40,000) 
Redemption of preferred stock 19,877
Deferred financing costs00
Net cash used in financing activities(40,487)(326,674)
Net cash (used in) provided by operations before effect of exchange rate changes on cash107,175(216,711)
Effect of exchange rate changes on cash00
Net increase (decrease) in cash and cash equivalents107,175(216,711)
Cash and cash equivalents at beginning of period53,810255,230
Cash and cash equivalents at end of period160,98538,519
Non-Guarantor Subsidiaries [Member]
  
Cash flows from operating activities:  
Net income (loss)(4,258)(43,732)
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:  
Equity in (income) loss from operations of subsidiaries00
Depreciation and amortization30,04548,727
Net receipt of deferred vendor incentives7,0875,087
Share-based compensation provision6722,561
Distributions received from joint venture10,7849,718
Impairment of long-lived assets1,93023,729
Loss on disposal of Arby’s0 
Deferred income tax (benefit) provision, net5700
Non-cash rent expense (credit)(268)(75)
Accretion of long-term debt164213
Write-off and amortization of deferred financing costs07,245
Tax sharing (receivable from) payable to parent, net00
Provision for (recovery of) doubtful accounts2,3235,423
Tax sharing receipt from (payment to) affiliate, net00
Other operating transactions with affiliates(60,224)24,333
Equity in earnings in joint ventures, net(7,817)(7,127)
Tax sharing payment to The Wendy's Company0 
Other, net(1,203)(5,660)
Changes in operating assets and liabilities:  
Accounts and notes receivable(3,967)(9,721)
Inventories(1,235)1,254
Prepaid expenses and other current assets(3,242)(4,494)
Accounts payable6,063(4,126)
Accrued expenses and other current liabilities(2,801)2,339
Net cash provided by operating activities(25,377)55,694
Cash flows from investing activities:  
Proceeds from sale of Arby’s, net(7,076) 
Proceeds from dispositions8362,220
Capital expenditures(12,599)(41,609)
Restaurant acquisitions0 
Franchise incentive loans0 
Investment in joint venture0 
Other, net(245)1,369
Net cash provided by (used in) investing activities(19,084)(38,020)
Cash flows from financing activities:  
Proceeds from long-term debt 161
Repayments of long-term debt(6,291)(260,869)
Dividends paid to The Wendy's Company (14,000)
Capital contribution from Parent30,000259,569
Dividend paid to Parent0 
Redemption of preferred stock (19,877)
Deferred financing costs00
Net cash used in financing activities23,709(35,016)
Net cash (used in) provided by operations before effect of exchange rate changes on cash(20,752)(17,342)
Effect of exchange rate changes on cash(2,556)894
Net increase (decrease) in cash and cash equivalents(23,308)(16,448)
Cash and cash equivalents at beginning of period65,52146,027
Cash and cash equivalents at end of period42,21329,579
Consolidation, Eliminations [Member]
  
Cash flows from operating activities:  
Net income (loss)(84,521)11,312
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:  
Equity in (income) loss from operations of subsidiaries84,521(11,312)
Depreciation and amortization00
Net receipt of deferred vendor incentives00
Share-based compensation provision00
Distributions received from joint venture00
Impairment of long-lived assets00
Loss on disposal of Arby’s0 
Deferred income tax (benefit) provision, net00
Non-cash rent expense (credit)00
Accretion of long-term debt00
Write-off and amortization of deferred financing costs00
Tax sharing (receivable from) payable to parent, net00
Provision for (recovery of) doubtful accounts00
Tax sharing receipt from (payment to) affiliate, net00
Other operating transactions with affiliates00
Equity in earnings in joint ventures, net00
Tax sharing payment to The Wendy's Company0 
Other, net00
Changes in operating assets and liabilities:  
Accounts and notes receivable00
Inventories00
Prepaid expenses and other current assets00
Accounts payable00
Accrued expenses and other current liabilities00
Net cash provided by operating activities00
Cash flows from investing activities:  
Proceeds from sale of Arby’s, net0 
Proceeds from dispositions00
Capital expenditures00
Restaurant acquisitions0 
Franchise incentive loans0 
Investment in joint venture0 
Other, net00
Net cash provided by (used in) investing activities00
Cash flows from financing activities:  
Proceeds from long-term debt 0
Repayments of long-term debt00
Dividends paid to The Wendy's Company 0
Capital contribution from Parent00
Dividend paid to Parent0 
Redemption of preferred stock 0
Deferred financing costs00
Net cash used in financing activities00
Net cash (used in) provided by operations before effect of exchange rate changes on cash00
Effect of exchange rate changes on cash00
Net increase (decrease) in cash and cash equivalents00
Cash and cash equivalents at beginning of period00
Cash and cash equivalents at end of period$ 0$ 0