(15) Guarantor/Non-Guarantor (Tables)

3 Months Ended

Apr. 01, 2012

Schedule of Condensed Consolidated Balance Sheet, Guarantor, Non Guarantor



				Guarantor			Non-guarantor
	Parent			Subsidiaries			Subsidiaries			Eliminations			Total
ASSETS
Current assets:
Cash and cash equivalents	$	110,150		$	134,399		$	37,164		$	—		$	281,713
Accounts and notes receivable	1,430			60,075			6,469			—			67,974
Inventories	—			10,958			1,046			—			12,004
Prepaid expenses and other current assets	4,688			28,602			1,580			—			34,870
Deferred income tax benefit	57,437			34,226			1,004			—			92,667
Due from affiliate	322,597			—			—			(322,597		)	—
Advertising funds restricted assets	—			—			77,289			—			77,289
Total current assets	496,302			268,260			124,552			(322,597		)	566,517
Properties	11,012			1,124,305			59,789			—			1,195,106
Goodwill	—			828,914			149,115			(100,720		)	877,309
Other intangible assets	16,620			1,258,578			24,282			—			1,299,480
Investments	19,000			—			95,759			—			114,759
Deferred costs and other assets	25,052			40,668			391			—			66,111
Net investment in subsidiaries	2,274,293			354,763			—			(2,629,056		)	—
Deferred income tax benefit	31,368			—			—			(31,368		)	—
Total assets	$	2,873,647		$	3,875,488		$	453,888		$	(3,083,741	)	$	4,119,282

LIABILITIES AND INVESTED EQUITY
Current liabilities:
Current portion of long-term debt	$	4,785		$	919		$	265		$	—		$	5,969
Accounts payable	3,723			44,377			5,414			—			53,514
Accrued expenses and other current liabilities	40,553			139,557			5,659			—			185,769
Due to affiliates	—			332,045			4,354			(322,597		)	13,802
Advertising funds restricted liabilities	—			—			77,289			—			77,289
Total current liabilities	49,061			516,898			92,981			(322,597		)	336,343
Long-term debt	1,015,550			320,290			3,536			—			1,339,376
Deferred income	—			5,662			345			—			6,007
Deferred income taxes	—			551,579			15,762			(31,368		)	535,973
Other liabilities	3,001			84,217			8,330			—			95,548
Invested equity:
Member interest	—			—			—			—			—
Other capital	2,442,486			2,169,333			332,805			(2,502,138		)	2,442,486
(Accumulated deficit) retained earnings	(487,294		)	376,666			(5,714		)	(370,952		)	(487,294		)
Advances to The Wendy’s Company	(155,000		)	(155,000		)	—			155,000			(155,000		)
Accumulated other comprehensive income	5,843			5,843			5,843			(11,686		)	5,843
Total invested equity	1,806,035			2,396,842			332,934			(2,729,776		)	1,806,035
Total liabilities and invested equity	$	2,873,647		$	3,875,488		$	453,888		$	(3,083,741	)	$	4,119,282



				Guarantor			Non-guarantor
	Parent			Subsidiaries			Subsidiaries			Eliminations			Total
ASSETS
Current assets:
Cash and cash equivalents	$	174,638		$	128,818		$	43,192		$	—		$	346,648
Accounts and notes receivable	2,682			59,137			5,634			—			67,453
Inventories	—			11,766			1,137			—			12,903
Prepaid expenses and other current assets	5,446			11,732			1,230			—			18,408
Deferred income tax benefit	59,737			34,226			1,000			—			94,963
Advertising funds restricted assets	—			—			69,672			—			69,672
Total current assets	242,503			245,679			121,865			—			610,047
Properties	12,431			1,120,383			59,382			—			1,192,196
Goodwill	—			828,411			145,133			(97,836		)	875,708
Other intangible assets	18,011			1,262,070			24,207			—			1,304,288
Investments	19,000			—			95,651			—			114,651
Deferred costs and other assets	26,446			40,131			250			—			66,827
Net investment in subsidiaries	2,253,006			348,931			—			(2,601,937		)	—
Deferred income tax benefit	29,269			—			—			(29,269		)	—
Due from affiliate	295,080			—			—			(295,080		)	—
Total assets	$	2,895,746		$	3,845,605		$	446,488		$	(3,024,122	)	$	4,163,717

LIABILITIES AND INVESTED EQUITY
Current liabilities:
Current portion of long-term debt	$	3,952		$	923		$	262		$	—		$	5,137
Accounts payable	9,215			64,251			7,520			—			80,986
Accrued expenses and other current liabilities	62,209			137,105			12,836			—			212,150
Advertising funds restricted liabilities	—			—			69,672			—			69,672
Total current liabilities	75,376			202,279			90,290			—			367,945
Long-term debt	1,017,401			319,643			3,515			—			1,340,559
Due to affiliates	—			308,654			1,794			(295,080		)	15,368
Deferred income	—			6,132			391			—			6,523
Deferred income taxes	—			551,579			15,379			(29,269		)	537,689
Other liabilities	3,305			84,647			8,017			—			95,969
Invested equity:
Member interest	—			—			—			—			—
Other capital	2,440,130			2,168,046			332,707			(2,500,753		)	2,440,130
(Accumulated deficit) retained earnings	(486,567		)	358,524			(6,706		)	(351,818		)	(486,567		)
Advances to The Wendy’s Company	(155,000		)	(155,000		)	—			155,000			(155,000		)
Accumulated other comprehensive income	1,101			1,101			1,101			(2,202		)	1,101
Total invested equity	1,799,664			2,372,671			327,102			(2,699,773		)	1,799,664
Total liabilities and invested equity	$	2,895,746		$	3,845,605		$	446,488		$	(3,024,122	)	$	4,163,717

Schedule of Condensed Consolidated Statement of Operations, Guarantor, Non Guarantor



				Guarantor			Non-guarantor
	Parent			Subsidiaries			Subsidiaries			Eliminations			Total
Revenues:
Sales	$	—		$	466,685		$	53,244		$	—		$	519,929
Franchise revenues	—			68,923			4,335			—			73,258
	—			535,608			57,579			—			593,187

Costs and expenses:
Cost of sales	—			406,024			49,443			—			455,467
General and administrative	—			66,024			4,056			—			70,080
Depreciation and amortization	2,981			26,765			2,562			—			32,308
Impairment of long-lived assets	—			2,630			253			—			2,883
Facilities relocation and other transition costs	5,444			87			—			—			5,531
Transaction related costs	615			(3		)	—			—			612
Other operating expense (income), net	442			2,543			(1,414		)	—			1,571
	9,482			504,070			54,900			—			568,452
Operating (loss) profit	(9,482		)	31,538			2,679			—			24,735
Interest expense	(22,158		)	(5,749		)	(166		)	—			(28,073		)
Other income (expense), net	5,283			(1,448		)	(2,260		)	—			1,575
Equity in income of subsidiaries	15,258			992			—			(16,250		)	—
(Loss) income before income taxes	(11,099		)	25,333			253			(16,250		)	(1,763		)
Benefit from (provision for) income taxes	10,372			(10,075		)	739			—			1,036
Net (loss) income	$	(727	)	$	15,258		$	992		$	(16,250	)	$	(727	)



				Guarantor			Non-guarantor
	Parent			Subsidiaries			Subsidiaries			Eliminations			Total
Revenues:
Sales	$	—		$	455,569		$	53,758		$	(41	)	$	509,286
Franchise revenues	—			68,766			4,421			(8		)	73,179
	—			524,335			58,179			(49		)	582,465

Costs and expenses:
Cost of sales	—			390,025			48,846			—			438,871
General and administrative	—			60,606			11,333			—			71,939
Depreciation and amortization	2,588			24,597			2,664			—			29,849
Impairment of long-lived assets	—			7,543			354			—			7,897
Transaction related costs	1,279			—			—			—			1,279
Other operating expense (income), net	—			2,674			(1,932		)	—			742
	3,867			485,445			61,265			—			550,577
Operating (loss) profit	(3,867		)	38,890			(3,086		)	(49		)	31,888
Interest expense	(23,336		)	(5,734		)	(145		)	—			(29,215		)
Other income (expense), net	—			3,798			(3,585		)	—			213
Equity in income (loss) of subsidiaries	13,386			(8,716		)	—			(4,670		)	—
(Loss) income from continuing operations before income taxes	(13,817		)	28,238			(6,816		)	(4,719		)	2,886
Benefit from (provision for) income taxes	14,842			(13,690		)	(1,900		)	—			(748		)
Income (loss) from continuing operations	1,025			14,548			(8,716		)	(4,719		)	2,138
Loss from discontinued operations, net of income taxes	—			—			(1,162		)	49			(1,113		)
Net income (loss)	$	1,025		$	14,548		$	(9,878	)	$	(4,670	)	$	1,025

Schedule of Condensed Consolidated Statement of Comprehensive Income (Loss), Guarantor, Non Guarantor



				Guarantor		Non-guarantor
	Parent			Subsidiaries		Subsidiaries		Eliminations			Total

Net (loss) income	$	(727	)	$	15,258	$	992	$	(16,250	)	$	(727	)
Other comprehensive income, net:
Foreign currency translation adjustment	4,742			4,742		4,742		(9,484		)	4,742
Other comprehensive income, net	4,742			4,742		4,742		(9,484		)	4,742
Comprehensive income	$	4,015		$	20,000	$	5,734	$	(25,734	)	$	4,015



				Guarantor			Non-guarantor
	Parent			Subsidiaries			Subsidiaries			Eliminations			Total

Net income (loss)	$	1,025		$	14,548		$	(9,878	)	$	(4,670	)	$	1,025
Other comprehensive income, net:
Foreign currency translation adjustment	7,649			7,649			7,649			(15,298		)	7,649
Change in net unrecognized pension loss, net of income tax provision of $15 in 2011	(55		)	(55		)	(55		)	110			(55		)
Other comprehensive income, net	7,594			7,594			7,594			(15,188		)	7,594
Comprehensive income (loss)	$	8,619		$	22,142		$	(2,284	)	$	(19,858	)	$	8,619

Schedule of Condensed Consolidated Statement of Cash Flows, Guarantor, Non Guarantor



				Guarantor			Non-guarantor
	Parent			Subsidiaries			Subsidiaries			Eliminations			Total
Cash flows from operating activities:
Net (loss) income	$	(727	)	$	15,258		$	992		$	(16,250	)	$	(727	)
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:
Equity in income from operations of subsidiaries	(15,258		)	(992		)	—			16,250			—
Depreciation and amortization	3,622			26,765			2,562			—			32,949
Distributions received from joint venture	—			—			3,253			—			3,253
Impairment of long-lived assets	—			2,630			253			—			2,883
Share-based compensation provision	1,071			1,187			98			—			2,356
Accretion of long-term debt	524			1,486			—			—			2,010
Non-cash rent expense (credit)	—			1,661			(22		)	—			1,639
Write-off and amortization of deferred financing costs	1,349			—			—			—			1,349
Tax sharing receipt from (payment to) affiliate, net	12,000			(12,000		)	—			—			—
Net recognition of deferred vendor incentives	—			(58		)	—			—			(58		)
Deferred income tax benefit, net	(857		)	—			—			—			(857		)
Equity in earnings in joint ventures, net	—			—			(2,134		)	—			(2,134		)
Other, net	(38,626		)	38,792			(356		)	—			(190		)
Changes in operating assets and liabilities:
Accounts and notes receivable	1,322			(795		)	(690		)	—			(163		)
Inventories	—			803			117			—			920
Prepaid expenses and other current assets	969			(3,092		)	(321		)	—			(2,444		)
Accounts payable	(3,307		)	(7,707		)	(1,134		)	—			(12,148		)
Accrued expenses and other current liabilities	(22,255		)	(11,755		)	(7,728		)	—			(41,738		)
Net cash (used in) provided by operating activities	(60,173		)	52,183			(5,110		)	—			(13,100		)
Cash flows from investing activities:
Capital expenditures	(2,774		)	(41,495		)	(2,729		)	—			(46,998		)
Restaurant acquisitions	—			(2,594		)	—			—			(2,594		)
Franchise incentive loans	—			(1,096		)	—			—			(1,096		)
Other, net	—			(924		)	907			—			(17		)
Net cash used in investing activities	(2,774		)	(46,109		)	(1,822		)	—			(50,705		)
Cash flows from financing activities:
Repayments of long-term debt	(1,541		)	(493		)	(64		)	—			(2,098		)
Net cash used in financing activities	(1,541		)	(493		)	(64		)	—			(2,098		)
Net cash (used in) provided by operations before effect of exchange rate changes on cash	(64,488		)	5,581			(6,996		)	—			(65,903		)
Effect of exchange rate changes on cash	—			—			968			—			968
Net (decrease) increase in cash and cash equivalents	(64,488		)	5,581			(6,028		)	—			(64,935		)
Cash and cash equivalents at beginning of period	174,638			128,818			43,192			—			346,648
Cash and cash equivalents at end of period	$	110,150		$	134,399		$	37,164		$	—		$	281,713



				Guarantor			Non-guarantor
	Parent			Subsidiaries			Subsidiaries			Eliminations			Total
Cash flows from operating activities:
Net income (loss)	$	1,025		$	14,548		$	(9,878	)	$	(4,670	)	$	1,025
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:
Equity in (income) loss from operations of subsidiaries	(13,386		)	8,716			—			4,670			—
Depreciation and amortization	2,588			24,597			15,475			—			42,660
Net receipt of deferred vendor incentives	—			19,086			10,271			—			29,357
Impairment of long-lived assets	—			7,543			2,069			—			9,612
Distributions received from joint venture	—			—			3,113			—			3,113
Share-based compensation provision	1,196			1,223			580			—			2,999
Write-off and amortization of deferred financing costs	2,148			—			—			—			2,148
Accretion of long-term debt	595			1,456			79			—			2,130
Non-cash rent expense (credit)	—			1,914			(107		)	—			1,807
Tax sharing receipt from (payment to) affiliate, net	14,000			(14,000		)	—			—			—
Deferred income tax (benefit) provision, net	(272		)	(413		)	349			—			(336		)
Equity in earnings in joint venture	—			—			(2,363		)	—			(2,363		)
Tax sharing payment to The Wendy’s Company	(13,078		)	—			—			—			(13,078		)
Other, net	13,786			3,021			(17,051		)	—			(244		)
Changes in operating assets and liabilities net:
Accounts and notes receivable	37			2,163			6			—			2,206
Inventories	—			819			(1,189		)	—			(370		)
Prepaid expenses and other current assets	(633		)	(3,041		)	(4,823		)	—			(8,497		)
Accounts payable	(223		)	(933		)	4,770			—			3,614
Accrued expenses and other current liabilities	(21,046		)	(5,022		)	(7,112		)	—			(33,180		)
Net cash (used in) provided by operating activities	(13,263		)	61,677			(5,811		)	—			42,603
Cash flows from investing activities:
Capital expenditures	(3,293		)	(18,920		)	(6,355		)	—			(28,568		)
Restaurant acquisitions	—			(2,900		)	—			—			(2,900		)
Other, net	—			228			75			—			303
Net cash used in investing activities	(3,293		)	(21,592		)	(6,280		)	—			(31,165		)
Cash flows from financing activities:
Repayments of long-term debt	(26,117		)	(198		)	(3,450		)	—			(29,765		)
Capital contributions from Parent	(30,000		)	—			30,000			—			—
Other, net	(18		)	—			—			—			(18		)
Net cash (used in) provided by financing activities	(56,135		)	(198		)	26,550			—			(29,783		)
Net cash (used in) provided by operations before effect of exchange rate changes on cash	(72,691		)	39,887			14,459			—			(18,345		)
Effect of exchange rate changes on cash	—			—			959			—			959
Net (decrease) increase in cash and cash equivalents	(72,691		)	39,887			15,418			—			(17,386		)
Cash and cash equivalents at beginning of period	79,355			53,810			65,521			—			198,686
Cash and cash equivalents at end of period	$	6,664		$	93,697		$	80,939		$	—		$	181,300