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Stockholders' Equity
 12 Months Ended
Dec. 28, 2014
Stockholders' Equity Note [Abstract]  
Stockholders' Equity
Stockholders’ Equity

Dividends

During the years ended December 28, 2014, December 29, 2013 and December 30, 2012, The Wendy’s Company paid dividends per share of $0.21, $0.18 and $0.10, respectively.

Treasury Stock

There were 470,424 shares of common stock issued at the beginning and end of 2014, 2013 and 2012. Treasury stock activity for 2014, 2013 and 2012 was as follows:
 
 
Treasury Stock
 
 
2014
 
2013
 
2012
Number of shares at beginning of year
 
77,637

 
78,051

 
80,700

Repurchases of common stock
 
32,716

 
8,720

 
—

Common shares issued:
 
 
 
 
 
 
Stock options, net
 
(4,930
)
 
(8,771
)
 
(2,079
)
Restricted stock, net
 
(732
)
 
(202
)
 
(211
)
Director fees
 
(24
)
 
(35
)
 
(45
)
Other
 
(53
)
 
(126
)
 
(314
)
Number of shares at end of year
 
104,614

 
77,637

 
78,051



Repurchases of Common Stock

In August 2014, our Board of Directors authorized a repurchase program for up to $100,000 of our common stock through December 31, 2015, when and if market conditions warrant and to the extent legally permissible. During 2014, the Company repurchased 2,986 shares with an aggregate purchase price of $23,889, excluding commissions of $52. Subsequent to December 28, 2014 through February 18, 2015, we repurchased 545 shares for an aggregate purchase price of $5,996, excluding commissions of $10.

In January 2014, our Board of Directors authorized a repurchase program for up to $275,000 of our common stock through the end of fiscal year 2014. As part of the repurchase program, the Board of Directors also authorized the commencement of a modified Dutch auction tender offer to repurchase shares of our common stock for an aggregate purchase price of up to $275,000. On February 11, 2014, the tender offer expired and on February 19, 2014, the Company repurchased 29,730 shares for an aggregate purchase price of $275,000. As a result, the repurchase program authorized in January 2014 was completed. The Company incurred costs of $2,275 in connection with the tender offer, which were recorded to treasury stock.

In November 2012, our Board of Directors authorized the repurchase of up to $100,000 of our common stock through December 29, 2013. During 2013, the Company repurchased 8,720 shares with an aggregate purchase price of $69,167, excluding commissions of $153. The authorization for the repurchase program expired at the end of the 2013 fiscal year. No repurchases were made during the year ended December 30, 2012.

Preferred Stock

There were 100,000 shares authorized and no shares issued of preferred stock throughout 2014, 2013 and 2012.

Accumulated Other Comprehensive Loss

The following table provides a rollforward of the components of accumulated other comprehensive income (loss) attributable to The Wendy’s Company, net of tax as applicable:
 
Foreign Currency Translation
 
Cash Flow Hedges
 
Pension
 
Total
Balance at January 1, 2012
$
1,101

 
$
—

 
$
(999
)
 
$
102

Current-period other comprehensive income (loss)
6,096

 
—

 
(217
)
 
5,879

Balance at December 30, 2012
7,197

 
—

 
(1,216
)
 
5,981

Current-period other comprehensive (loss) income
(17,000
)
 
744

 
(62
)
 
(16,318
)
Balance at December 29, 2013
(9,803
)
 
744

 
(1,278
)
 
(10,337
)
Current-period other comprehensive (loss) income
(18,560
)
 
(2,788
)
 
391

 
(20,957
)
Balance at December 28, 2014
$
(28,363
)
 
$
(2,044
)
 
$
(887
)
 
$
(31,294
)


The cumulative gains and losses on these items are included in “Accumulated other comprehensive loss” in the consolidated balance sheets and consolidated statements of stockholders’ equity.

Restricted Net Assets of Subsidiaries

Restricted net assets of consolidated subsidiaries were approximately $843,000, representing approximately 49% of The Wendy’s Company’s consolidated stockholders’ equity as of December 28, 2014 and consisted of net assets of Wendy’s which were restricted as to transfer to The Wendy’s Company in the form of cash dividends, loans or advances under the covenants of the Restated Credit Agreement.

Dividends paid to The Wendy’s Company from its subsidiaries totaled $210,000 and $170,000 in 2014 and 2013, respectively. No dividends were paid in 2012.