Long-Term Debt

6 Months Ended

Jun. 29, 2025

Debt Disclosure [Abstract]

Long-Term Debt

Long-Term Debt

Long-term debt consisted of the following:

	June 29, 2025		December 29, 2024
Class A-2 Notes:
4.236% Series 2022-1 Class A-2-I Notes, anticipated repayment date 2029	$	97,000	$	97,500
4.535% Series 2022-1 Class A-2-II Notes, anticipated repayment date 2032	384,134		386,134
2.370% Series 2021-1 Class A-2-I Notes, anticipated repayment date 2029	416,519		418,769
2.775% Series 2021-1 Class A-2-II Notes, anticipated repayment date 2031	623,780		627,030
3.783% Series 2019-1 Class A-2-I Notes, anticipated repayment date 2026	351,673		353,673
4.080% Series 2019-1 Class A-2-II Notes, anticipated repayment date 2029	396,373		398,623
3.884% Series 2018-1 Class A-2-II Notes, anticipated repayment date 2028	433,974		436,349
7% debentures, due in December 2025	49,255		48,913
Unamortized debt issuance costs	(23,296)		(26,698)
	2,729,412		2,740,293
Less amounts payable within one year	(78,505)		(78,163)
Total long-term debt	$	2,650,907	$	2,662,130

Other Long-Term Debt

Wendy’s U.S. advertising fund has a revolving line of credit of $15,000, which was established to support the Company’s advertising fund operations and bears interest at the Secured Overnight Financing Rate (“SOFR”) plus 2.25%. Borrowings under the line of credit are guaranteed by Wendy’s. During the three months ended March 30, 2025, the Company borrowed and repaid $15,000 and $8,500, respectively, under the revolving line of credit. During the three months ended June 29, 2025, the Company borrowed an additional $8,500 under the revolving line of credit. As a result, as of June 29, 2025, the Company had outstanding borrowings of $15,000 under the revolving line of credit, which is included in “Advertising funds restricted liabilities.”