(29) Quarterly Financial Information

12 Months Ended

Jan. 01, 2012

Quarterly Financial Information [Abstract]

Quarterly Financial Information

Quarterly Financial Information (Unaudited)

The table below sets forth summary unaudited consolidated quarterly financial information for 2011 and 2010. The Companies report on a fiscal year typically consisting of 52 or 53 weeks ending on the Sunday closest to December 31. All of the Companies’ fiscal quarters in 2011 and 2010 contained 13 weeks. As discussed in Note 2, on July 4, 2011, Wendy’s Restaurants completed the sale of 100% of the common stock of Arby’s. Arby’s results for all periods presented through its July 4, 2011 date of sale are classified as discontinued operations.

(The Wendy’s Company)

	2011 Quarter Ended
	April 3 (a)			July 3 (a)			October 2 (a)			January 1, 2012 (a)
Revenues	$	582,465		$	622,459		$	611,416		$	615,018
Cost of sales	438,871			464,798			458,000			454,440
Operating profit	28,017			47,434			32,390			29,280
(Loss) income from continuing operations	(296		)	11,374			2,544			4,290
Loss from discontinued operations	(1,113		)	(108		)	(6,510		)	(306		)
Net (loss) income	(1,409		)	11,266			(3,966		)	3,984
Basic and diluted income (loss)      per share (b):
Continuing operations	$	.00		$	.03		$	.01		$	.01
Discontinued operations	.00			.00			(.02		)	.00
Net (loss) income	$	.00		$	.03		$	(.01	)	$	.01

	2010 Quarter Ended
	April 4			July 4 (c)		October 3 (d)			January 2, 2011 (d)
Revenues	$	584,714		$	607,434	$	600,708		$	582,583
Cost of sales	431,337			442,314		451,319			431,984
Operating profit	37,661			58,947		20,290			33,547
Income (loss) from continuing operations	7,311			5,442		(757		)	6,115
(Loss) income from discontinued      operations	(10,711		)	5,300		(152		)	(16,873		)
Net (loss) income	(3,400		)	10,742		(909		)	(10,758		)
Basic and diluted income (loss)      per share (b):
Continuing operations	$	.02		$	.02	$	.00		$	.01
Discontinued operations	(.03		)	.01		.00			(.04		)
Net (loss) income	$	(.01	)	$	.03	$	.00		$	(.03	)

(Wendy’s Restaurants)

	2011 Quarter Ended
	April 3 (a)			July 3 (a)			October 2 (a)			January 1, 2012 (a)
Revenues	$	582,465		$	622,459		$	611,416		$	615,018
Cost of sales	438,871			464,798			458,000			454,440
Operating profit	31,888			49,641			35,993			32,370
Income from continuing operations	2,138			12,997			4,910			925
Loss from discontinued operations	(1,113		)	(108		)	(6,510		)	(306		)
Net income (loss)	$	1,025		$	12,889		$	(1,600	)	$	619

	2010 Quarter Ended
	April 4			July 4		October 3 (d)			January 2, 2011 (d)
Revenues	$	584,714		$	607,434	$	600,708		$	582,583
Cost of sales	431,337			442,314		451,319			431,984
Operating profit	39,582			61,372		22,381			37,022
Income from continuing operations	8,151			4,075		509			7,063
(Loss) income from discontinued      operations	(10,711		)	5,300		(152		)	(16,873		)
Net (loss) income	$	(2,560	)	$	9,375	$	357		$	(9,810	)

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(a) The operating profit was materially affected by transaction related and other costs in each of the 2011 quarters and impairment of long-lived assets in the first and fourth quarters of 2011. The impact of transaction related and other costs on net income (loss) for the first, second, third and fourth quarters of 2011 was $799, $2,933, $14,732 and $9,279, respectively, after income tax benefits of $480, $1,759, $8,839 and $5,656, respectively. The impact of the impairment of long-lived assets on net income for the first and fourth quarters of 2011 was $4,865 and $2,847, respectively, after income tax benefits of $3,032 and $1,774, respectively. In addition, The Wendy’s Company incurred transaction related and other costs in the first, second, third and fourth quarters of 2011 of $379, $216, $167 and $9, respectively, net of income tax benefits of $226, $131, $101 and $5, respectively.

(b) Basic and diluted income (loss) per share are being presented together since diluted income (loss) per share was the same as basic income (loss) per share for all periods presented. See Note 5 for additional information.

(c) Net income for The Wendy’s Company was affected by income recognized in the second quarter of 2010 on the repayment and cancellation of the DFR Notes of $3,044, after income tax expense of $1,865.

(d) The operating profit was materially affected by impairment of long-lived assets in the third and fourth quarters of 2010. The impact of the impairment of long-lived assets on net income (loss) for the third and fourth quarters of 2010 was $12,908 and $3,037, respectively, after income tax benefits of $8,013 and $1,886, respectively.