Segment Information (Tables)

6 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

Reconciliation of Revenue from Segments to Consolidated

Revenues by segment are as follows:

	Three Months Ended				Six Months Ended
	June 30, 2024		July 2, 2023		June 30, 2024		July 2, 2023
Wendy’s U.S.	$	472,591	$	468,753	$	915,438	$	909,741
Wendy’s International	36,361		32,715		69,176		61,995
Global Real Estate & Development	61,775		60,097		120,866		118,636
Total revenues	$	570,727	$	561,565	$	1,105,480	$	1,090,372

Reconciliation of Profit from Segments to Consolidated

The following table reconciles profit by segment to the Company’s consolidated income before income taxes:

	Three Months Ended				Six Months Ended
	June 30, 2024		July 2, 2023		June 30, 2024		July 2, 2023
Wendy’s U.S. (a)	$	136,709	$	142,947	$	262,533	$	268,177
Wendy’s International (b)	10,675		8,531		21,365		15,977
Global Real Estate & Development	28,182		26,534		52,243		51,602
Total segment profit	175,566		178,012		$	336,141	$	335,756
Unallocated franchise support and other costs	(191)		23		(217)		23
Advertising funds deficit	254		1,315		461		2,421
Unallocated general and administrative (c)	(32,456)		(33,653)		(65,846)		(65,814)
Depreciation and amortization (exclusive of amortization of cloud computing arrangements shown separately below)	(37,492)		(33,498)		(73,010)		(66,970)
Amortization of cloud computing arrangements	(3,519)		(2,266)		(7,061)		(3,848)
System optimization gains (losses), net	280		(6)		153		(1)
Reorganization and realignment costs	(2,452)		(681)		(8,125)		(7,489)
Impairment of long-lived assets	(689)		(78)		(2,695)		(454)
Unallocated other operating income, net	206		106		862		128
Interest expense, net	(30,995)		(31,136)		(61,530)		(62,841)
Loss on early extinguishment of debt	—		—		—		(1,266)
Investment income (loss), net	11		(6,827)		11		(10,389)
Other income, net	6,300		7,573		13,136		14,909
Income before income taxes	$	74,823	$	78,884	$	132,280	$	134,165

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(a)Wendy’s U.S. includes advertising funds expense of $5,084 and $7,409 for the three and six months ended June 30, 2024 related to the Company’s funding of incremental advertising.

(b)Wendy’s International includes advertising funds expense of $603 and $765 for the three and six months ended June 30, 2024, respectively, and $658 and $1,206 for the three and six months ended July 2, 2023, respectively, related to the Company’s funding of incremental advertising in Canada. In addition, Wendy’s International includes other international-related advertising deficit of $320 and $470 for the three and six months ended June 30, 2024, respectively, and $479 and $1,324 for the three and six months ended July 2, 2023, respectively.

(c)Includes corporate overhead costs, such as employee compensation and related benefits.