Cash and Receivables (Notes)

12 Months Ended

Jan. 02, 2022


	Year End
	January 2, 2022		January 3, 2021
Cash and cash equivalents
Cash	$	249,438	$	231,922
Cash equivalents	—		75,067
	249,438		306,989
Restricted cash
Accounts held by trustee for the securitized financing facility	27,188		33,635
Other	347		338
	27,535		33,973
Advertising Funds (a)	89,993		77,279
	117,528		111,252
Total cash, cash equivalents and restricted cash	$	366,966	$	418,241

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(a)Included in “Advertising funds restricted assets.”


	Year End
	January 2, 2022						January 3, 2021
	Gross		Allowance for Doubtful Accounts		Net		Gross		Allowance for Doubtful Accounts		Net
Accounts and Notes Receivable, Net
Current
Accounts receivable (a) (b)	$	104,744	$	(3,229)	$	101,515	$	97,399	$	(3,739)	$	93,660
Notes receivable from franchisees (c) (d)	23,000		(4,975)		18,025		21,227		(4,996)		16,231
	$	127,744	$	(8,204)	$	119,540	$	118,626	$	(8,735)	$	109,891
Non-current (e)
Notes receivable from franchisees (d)	$	4,514	$	(315)	$	4,199	$	6,759	$	(629)	$	6,130

_______________

(a)Includes income tax refund receivables of $11,901 and $5,399 as of January 2, 2022 and January 3, 2021, respectively.

(b)As of January 3, 2021, included incremental rent receivables of $5,226 due to actions taken by the Company in response to the COVID-19 pandemic, which included offering to defer base rent payments on properties owned by Wendy’s and leased to franchisees by 50% and offering to pass along any deferrals that were obtained on properties leased by Wendy’s and subleased to franchisees by up to 100%, beginning in May for a three month period, which were substantially repaid over a 12 month period beginning in August 2020.

(c)Includes the current portion of sales-type and direct financing lease receivables of $6,266 and $5,965 as of January 2, 2022 and January 3, 2021, respectively. See Note 20 for further information.

(d)Includes a note receivable from a franchisee in India, of which $335 and $356 are included in current notes receivable and $315 and $629 are included in non-current notes receivable as of January 2, 2022 and January 3, 2021, respectively. As of January 2, 2022 and January 3, 2021, the Company had reserves of $650 and $985, respectively, on the loan outstanding to the franchisee in India.

Includes a note receivable from a franchisee in Indonesia, of which $1,795 and $831 are included in current notes receivable as of January 2, 2022 and January 3, 2021, respectively, and $1,780 which is included in non-current notes receivable as of January 3, 2021.

Includes notes receivable related to the Brazil JV, of which $12,925 and $12,775 are included in current notes receivable and $4,200 and $4,350 are included in non-current notes receivable as of January 2, 2022 and January 3, 2021, respectively. As of both January 2, 2022 and January 3, 2021, the Company had reserves of $4,640 on the loans outstanding related to the Brazil JV. See Note 8 for further information.

(e)Included in “Other assets.”

The following is an analysis of the allowance for doubtful accounts:


	Accounts Receivable		Notes Receivable		Total
2021
Balance at January 3, 2021	$	3,739	$	5,625	$	9,364
Provision for doubtful accounts	(148)		(335)		(483)
Uncollectible accounts written off, net of recoveries	(362)		—		(362)
Balance at January 2, 2022	$	3,229	$	5,290	$	8,519

2020
Balance at December 29, 2019	$	3,314	$	6,705	$	10,019
Provision for doubtful accounts	647		206		853
Uncollectible accounts written off, net of recoveries	(222)		(1,286)		(1,508)
Balance at January 3, 2021	$	3,739	$	5,625	$	9,364

2019
Balance at December 30, 2018	$	4,939	$	2,000	$	6,939
Provision for doubtful accounts	(1,618)		4,912		3,294
Uncollectible accounts written off, net of recoveries	(7)		(207)		(214)
Balance at December 29, 2019	$	3,314	$	6,705	$	10,019