Revenue (Tables)

12 Months Ended

Dec. 29, 2024

The following tables disaggregate revenue by segment and source for 2024, 2023 and 2022:


	Wendy’s U.S.		Wendy’s International		Global Real Estate & Development		Total
2024
Sales at Company-operated restaurants	$	898,886	$	27,019	$	—	$	925,905
Franchise royalty revenue	456,648		71,740		—		528,388
Franchise fees	82,703		9,347		5,564		97,614
Franchise rental income	—		—		236,493		236,493
Advertising funds revenue	421,508		36,584		—		458,092
Total revenues	$	1,859,745	$	144,690	$	242,057	$	2,246,492

2023

Sales at Company-operated restaurants	$	905,700	$	24,383	$	—	$	930,083
Franchise royalty revenue	444,653		67,506		—		512,159
Franchise fees	68,749		6,406		5,017		80,172
Franchise rental income	—		—		230,168		230,168
Advertising funds revenue	396,743		32,253		—		428,996
Total revenues	$	1,815,845	$	130,548	$	235,185	$	2,181,578

2022
Sales at Company-operated restaurants	$	882,684	$	13,901	$	—	$	896,585
Franchise royalty revenue	423,955		61,533		—		485,488
Franchise fees	63,112		5,542		4,093		72,747
Franchise rental income	—		—		234,465		234,465
Advertising funds revenue	380,491		25,729		—		406,220
Total revenues	$	1,750,242	$	106,705	$	238,558	$	2,095,505

Contract Balances, assets and liabilities

The following table provides information about receivables and contract liabilities (deferred franchise fees) from contracts with customers:


	Year End
	December 29, 2024 (a)		December 31, 2023 (a)
Receivables, which are included in “Accounts and notes receivable, net” (b)	$	55,601	$	55,293
Receivables, which are included in “Advertising funds restricted assets”	73,223		76,838
Deferred franchise fees (c)	99,411		100,805

_______________

(a)Excludes funds collected from the sale of gift cards, which are primarily reimbursed to franchisees upon redemption at franchised restaurants and do not ultimately result in the recognition of revenue in the Company’s consolidated statements of operations.

(b)Includes receivables related to “Sales” and “Franchise royalty revenue and fees.”

(c)Deferred franchise fees are included in “Accrued expenses and other current liabilities” and “Deferred franchise fees” and totaled $11,024 and $88,387, respectively, as of December 29, 2024, and $10,673 and $90,132, respectively, as of December 31, 2023.

Contract Balances, deferred franchise fee rollforward

Significant changes in deferred franchise fees are as follows:


	Year Ended
	2024		2023		2022
Deferred franchise fees at beginning of period	$	100,805	$	99,208	$	97,186
Revenue recognized during the period	(12,706)		(12,242)		(11,567)
New deferrals due to cash received and other	11,312		13,839		13,589
Deferred franchise fees at end of period	$	99,411	$	100,805	$	99,208

Anticipated Future Recognition of Deferred Franchise Fee

The following table reflects the estimated franchise fees to be recognized in the future related to performance obligations that are unsatisfied at the end of the period:


Estimate for fiscal year:
2025 (a)	$	11,024
2026	6,576
2027	6,459
2028	6,332
2029	6,233
Thereafter	62,787
	$	99,411

_______________

(a)Includes development-related franchise fees expected to be recognized over a duration of one year or less.