Long-Term Debt

9 Months Ended

Oct. 01, 2023

Debt Disclosure [Abstract]

Long-Term Debt

Long-Term Debt

Long-term debt consisted of the following:

	October 1, 2023		January 1, 2023
Class A-2 Notes (a):
4.236% Series 2022-1 Class A-2-I Notes, anticipated repayment date 2029	$	98,750	$	99,500
4.535% Series 2022-1 Class A-2-II Notes, anticipated repayment date 2032	395,000		398,000
2.370% Series 2021-1 Class A-2-I Notes, anticipated repayment date 2029	439,875		443,250
2.775% Series 2021-1 Class A-2-II Notes, anticipated repayment date 2031	635,375		640,250
3.783% Series 2019-1 Class A-2-I Notes, anticipated repayment date 2026	361,000		364,000
4.080% Series 2019-1 Class A-2-II Notes, anticipated repayment date 2029	406,125		409,500
3.884% Series 2018-1 Class A-2-II Notes, anticipated repayment date 2028	447,688		451,250
7% debentures, due in 2025 (b)	49,190		86,369
Unamortized debt issuance costs	(35,527)		(40,673)
	2,797,476		2,851,446
Less amounts payable within one year	(29,250)		(29,250)
Total long-term debt	$	2,768,226	$	2,822,196

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(a)Subsequent to October 1, 2023 through October 26, 2023, the Company repurchased $29,171 in principal of its Class A-2 senior secured notes for $24,935.

(b)Wendy’s 7% debentures are unsecured and were reduced to fair value in connection with the 2008 merger of Triarc Companies, Inc. and Wendy’s International, Inc. (the “Wendy’s Merger”). The fair value adjustment is being accreted and the related charge included in “Interest expense, net” until the debentures mature. During the nine months ended October 1, 2023, Wendy’s repurchased $39,266 in principal of its 7% debentures for $39,343. As a result, the Company recognized a loss on early extinguishment of debt of $1,585 during the nine months ended October 1, 2023. Subsequent to October 1, 2023 through October 26, 2023, the Company repurchased $1,164 in principal of its 7% debentures for $1,174.