Parent Financial Statements Parent Financial Statements (Tables)

12 Months Ended

Dec. 28, 2014

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Parent Balance Sheet

	December 28, 2014			December 29, 2013
ASSETS
Current assets:
Cash and cash equivalents	$	35,556		$	179,916
Amounts due from subsidiaries	212,802			185,695
Deferred income tax benefit and other current assets	51,990			99,039
Total current assets	300,348			464,650
Investments in consolidated subsidiaries	1,572,571			1,687,364
Deferred income tax benefit	10,879			—
Total assets	$	1,883,798		$	2,152,014
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Amounts due to subsidiaries	$	161,466		$	157,372
Deferred income taxes and other current liabilities	1,555			1,540
Total current liabilities	163,021			158,912
Deferred income taxes	—			53,920
Other liabilities	3,201			9,696
Stockholders’ equity:
Common stock, $0.10 par value; 1,500,000 shares authorized; 470,424 shares issued	47,042			47,042
Additional paid-in capital	2,826,965			2,794,445
Accumulated deficit	(445,917		)	(492,215		)
Common stock held in treasury, at cost	(679,220		)	(409,449		)
Accumulated other comprehensive loss	(31,294		)	(10,337		)
Total stockholders’ equity	1,717,576			1,929,486
Total liabilities and stockholders’ equity	$	1,883,798		$	2,152,014

Parent Income Statement

	Year Ended
	December 28, 2014		December 29, 2013			December 30, 2012
Income:
Equity in income from continuing operations of subsidiaries	$	113,010	$	21,116		$	29,708
Costs and expenses:
General and administrative	10,567		10,381			10,911
Depreciation and amortization	—		1,272			1,975
Facilities action charges, net	—		330			5,327
Impairment of long-lived assets	—		1,830			1,628
Other expense (income), net	306		(23		)	953
	10,873		13,790			20,794
Income from continuing operations before income taxes	102,137		7,326			8,914
Benefit from (provision for) income taxes	19,297		38,427			(3,340		)
Income from continuing operations	121,434		45,753			5,574
Equity in (loss) income from discontinued operations of subsidiaries	—		(266		)	1,509
Net income	$	121,434	$	45,487		$	7,083

Parent Comprehensive Income

	Year Ended
	December 28, 2014			December 29, 2013			December 30, 2012
Net income	$	121,434		$	45,487		$	7,083
Other comprehensive (loss) income, net:
Foreign currency translation adjustment	(18,560		)	(17,000		)	6,096
Change in unrecognized pension loss, net of income tax (provision) benefit of $(160), $37 and $127, respectively	391			(62		)	(217		)
Change in unrealized (loss) gain on cash flow hedges, net of income tax benefit (provision) of $1,767 and $(468), respectively	(2,788		)	744			—
Other comprehensive (loss) income, net	(20,957		)	(16,318		)	5,879
Comprehensive income	$	100,477		$	29,169		$	12,962

Parent Cash Flow Statements

	Year Ended
	December 28, 2014			December 29, 2013			December 30, 2012
Cash flows from operating activities:
Net income	$	121,434		$	45,487		$	7,083
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in income from operations of subsidiaries	(113,010		)	(20,850		)	(31,217		)
Depreciation and amortization	—			1,272			3,078
Share-based compensation	737			1,552			944
Impairment of long-lived assets	—			1,830			1,628
Deferred income tax	7,213			80,161			(4,118		)
Excess tax benefits from share-based compensation	(9,363		)	—			—
Amortization of deferred financing costs	—			—			21
Dividends from subsidiaries	210,000			170,000			—
Tax sharing receivable from subsidiaries, net	(16,764		)	(119,249		)	—
Tax sharing payments received from subsidiaries	—			—			37
Other operating transactions with Wendy’s Restaurants, LLC	(13,002		)	4,988			28,733
Other, net	(5,525		)	1,439			1,753
Changes in operating assets and liabilities:
Other current assets	2,300			10,305			(472		)
Other current liabilities	4,654			(2,040		)	8,643
Net cash provided by operating activities	188,674			174,895			16,113
Cash flows from investing activities:
Other, net	3,148			—			686
Net cash provided by investing activities	3,148			—			686
Cash flows from financing activities:
Repayments of long-term debt	—			—			(11,303		)
Repurchases of common stock	(301,216		)	(69,320		)	—
Dividends	(75,117		)	(70,681		)	(39,043		)
Proceeds from stock option exercises	30,788			42,370			7,806
Excess tax benefits from share-based compensation	9,363			—			—
Other, net	—			—			(48		)
Net cash used in financing activities	(336,182		)	(97,631		)	(42,588		)
Net (decrease) increase in cash and cash equivalents	(144,360		)	77,264			(25,789		)
Cash and cash equivalents at beginning of year	179,916			102,652			128,441
Cash and cash equivalents at end of year	$	35,556		$	179,916		$	102,652