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Segment Information
 3 Months Ended
Mar. 30, 2025
Segment Reporting [Abstract]  
Segment Information Segment Information
Wendy’s U.S. revenue, significant segment expenses and segment adjusted earnings before interest, taxes, depreciation and amortization (“EBITDA”) are as follows:
Three Months Ended
March 30,
2025		March 31,
2024
Wendy’s U.S. revenue$429,614 $442,847 
Wendy’s U.S. expense
Cost of sales181,237 185,933 
Franchise support and other costs13,178 12,694 
Advertising fund expense (a)91,760 99,025 
General and administrative22,424 19,326 
Other segment items (b)38 45 
Wendy’s U.S. adjusted EBITDA$120,977 $125,824 
_______________

(a)Includes advertising fund expense of $2,325 for the three months ended March 31, 2024 related to the Company’s funding of incremental advertising. There was no funding of incremental advertising during the three months ended March 30, 2025.

(b)Other segment items for the three months ended March 30, 2025 primarily include lease buyout activity and professional fees. Other segment items for the three months ended March 31, 2024 primarily include professional fees.

Wendy’s International revenue, significant segment expenses and segment adjusted EBITDA are as follows:
Three Months Ended
March 30, 2025March 31,
2024
Wendy’s International revenue$34,721 $32,815 
Wendy’s International expense
Cost of sales6,932 6,180 
Advertising fund expense (a)9,912 8,556 
General and administrative6,437 5,941 
Other segment items (b)1,996 1,448 
Wendy’s International adjusted EBITDA $9,444 $10,690 
_______________

(a)Includes advertising fund expense of $159 and $162 for the three months ended March 30, 2025 and March 31, 2024, respectively, related to the Company’s funding of incremental advertising. In addition, includes other international-related advertising deficit of $1,153 and $150 for the three months ended March 30, 2025 and March 31, 2024, respectively.

(b)Other segment items for the three months ended March 30, 2025 and March 31, 2024 primarily include franchise support and other costs.
Global Real Estate & Development revenue, significant segment expenses and segment adjusted EBITDA are as follows:
Three Months Ended
March 30, 2025March 31, 2024
Global Real Estate & Development revenue$59,137 $59,091 
Global Real Estate & Development expense
Franchise rental expense30,701 31,778 
General and administrative5,220 5,100 
Other segment items (a)(1,460)(1,848)
Global Real Estate & Development adjusted EBITDA$24,676 $24,061 
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(a)Other segment items primarily include equity in earnings from our TimWen joint venture, franchise support and other costs and gains on sales-type leases. Equity in earnings from our TimWen joint venture was $2,252 and $2,522 for the three months ended March 30, 2025 and March 31, 2024, respectively.

The following table reconciles profit by segment to the Company’s consolidated income before income taxes:
Three Months Ended
March 30,
2025		March 31,
2024
Wendy’s U.S.$120,977 $125,824 
Wendy’s International9,444 10,690 
Global Real Estate & Development24,676 24,061 
Total segment adjusted EBITDA155,097 160,575 
Unallocated franchise support and other costs(587)(26)
Advertising funds surplus144 207 
Unallocated general and administrative (a)(34,123)(33,390)
Depreciation and amortization (exclusive of amortization of cloud computing arrangements shown separately below)(36,549)(35,518)
Amortization of cloud computing arrangements(4,167)(3,542)
System optimization losses, net(90)(127)
Reorganization and realignment costs692 (5,673)
Impairment of long-lived assets(1,421)(2,006)
Unallocated other operating income, net4,130 656 
Interest expense, net(31,477)(30,535)
Investment loss, net(1,718)— 
Other income, net4,986 6,836 
Income before income taxes$54,917 $57,457 
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(a)Includes corporate overhead costs, such as employee compensation and related benefits.