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Segment Information
 6 Months Ended
Jun. 29, 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 EndedSix Months Ended
June 29,
2025		June 30,
2024		June 29,
2025		June 30,
2024
Wendy’s U.S. revenue$461,142 $472,591 $890,756 $915,438 
Wendy’s U.S. expense
Cost of sales189,258 193,046 370,495 378,979 
Franchise support and other costs13,677 13,391 26,855 26,085 
Advertising fund expense (a)101,355 110,701 193,115 209,726 
General and administrative19,619 18,666 42,043 37,992 
Other segment items (b)74 78 112 123 
Wendy’s U.S. adjusted EBITDA$137,159 $136,709 $258,136 $262,533 
_______________

(a)Includes advertising fund expense of $5,084 and $7,409 for the three and six months ended June 30, 2024, respectively, related to the Company’s funding of incremental advertising. There was no funding of incremental advertising during the three and six months ended June 29, 2025.

(b)Other segment items for the three and six months ended June 29, 2025 and June 30, 2024 primarily include professional fees.

Wendy’s International revenue, significant segment expenses and segment adjusted EBITDA are as follows:
Three Months EndedSix Months Ended
June 29,
2025		June 30,
2024		June 29,
2025		June 30,
2024
Wendy’s International revenue$38,850 $36,361 $73,571 $69,176 
Wendy’s International expense
Cost of sales7,263 6,840 14,195 13,020 
Advertising fund expense (a)10,159 10,370 20,071 18,926 
General and administrative6,700 6,606 13,137 12,547 
Other segment items (b)1,502 1,870 3,498 3,318 
Wendy’s International adjusted EBITDA $13,226 $10,675 $22,670 $21,365 
_______________

(a)Includes advertising fund expense of $183 and $342 for the three and six months ended June 29, 2025, respectively, and $603 and $765 for the three and six months ended June 30, 2024, respectively, related to the Company’s funding of incremental advertising. In addition, includes other international-related advertising surplus (deficit) of $34 and $(1,119) for the three and six months ended June 29, 2025, respectively, and $(320) and $(470) for the three and six months ended June 30, 2024, respectively.

(b)Other segment items for the three and six months ended June 29, 2025 and June 30, 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 EndedSix Months Ended
June 29,
2025		June 30,
2024		June 29,
2025		June 30,
2024
Global Real Estate & Development revenue$60,937 $61,775 $120,074 $120,866 
Global Real Estate & Development expense
Franchise rental expense32,630 32,390 63,331 64,168 
General and administrative2,650 3,768 7,870 8,868 
Other segment items (a)(1,627)(2,565)(3,087)(4,413)
Global Real Estate & Development adjusted EBITDA$27,284 $28,182 $51,960 $52,243 
_______________

(a)Other segment items primarily include equity in earnings from our TimWen joint venture and franchise support and other costs. Equity in earnings from our TimWen joint venture was $3,060 and $5,312 for the three and six months ended June 29, 2025, respectively, and $3,027 and $5,549 for the three and six months ended June 30, 2024, respectively.

The following table reconciles profit by segment to the Company’s consolidated income before income taxes:
Three Months EndedSix Months Ended
June 29,
2025		June 30,
2024		June 29,
2025		June 30,
2024
Wendy’s U.S.$137,159 $136,709 $258,136 $262,533 
Wendy’s International13,226 10,675 22,670 21,365 
Global Real Estate & Development27,284 28,182 51,960 52,243 
Total segment adjusted EBITDA177,669 175,566 $332,766 $336,141 
Unallocated franchise support and other costs(658)(191)(1,245)(217)
Advertising funds surplus140 254 284 461 
Unallocated general and administrative (a)(30,516)(32,456)(64,639)(65,846)
Depreciation and amortization (exclusive of amortization of cloud computing arrangements shown separately below)(36,990)(37,492)(73,539)(73,010)
Amortization of cloud computing arrangements(4,056)(3,519)(8,223)(7,061)
System optimization gains, net387 280 297 153 
Reorganization and realignment costs(174)(2,452)518 (8,125)
Impairment of long-lived assets(1,686)(689)(3,107)(2,695)
Unallocated other operating income, net144 206 4,274 862 
Interest expense, net(30,945)(30,995)(62,422)(61,530)
Investment income (loss), net— 11 (1,718)11 
Other income, net2,585 6,300 7,571 13,136 
Income before income taxes$75,900 $74,823 $130,817 $132,280 
_______________

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