Long-Term Debt

3 Months Ended

Mar. 29, 2026

Debt Disclosure [Abstract]

Long-Term Debt

Long-Term Debt

Long-term debt consisted of the following:

	March 29, 2026		December 28, 2025
Class A-2 Notes:
5.422% Series 2025-1 Class A-2-I Notes, anticipated repayment date 2032	$	448,875	$	450,000
4.236% Series 2022-1 Class A-2-I Notes, anticipated repayment date 2029	96,250		96,500
4.535% Series 2022-1 Class A-2-II Notes, anticipated repayment date 2032	381,134		382,134
2.370% Series 2021-1 Class A-2-I Notes, anticipated repayment date 2029	413,144		414,269
2.775% Series 2021-1 Class A-2-II Notes, anticipated repayment date 2031	618,905		620,530
4.080% Series 2019-1 Class A-2-II Notes, anticipated repayment date 2029	392,998		394,123
3.884% Series 2018-1 Class A-2-II Notes, anticipated repayment date 2028	430,412		431,599
Unamortized debt issuance costs	(27,072)		(28,903)
	2,754,646		2,760,252
Less amounts payable within one year	(29,750)		(29,750)
Total long-term debt	$	2,724,896	$	2,730,502

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 29, 2026, the Company borrowed and repaid $11,500 under the revolving line of credit, then subsequently borrowed and repaid $3,600 under the revolving line of credit. As a result, as of March 29, 2026, the Company had no outstanding borrowings under the revolving line of credit.