Parent Financial Statements

12 Months Ended

Jan. 01, 2012

Schedule I - Parent Financial Statements [Abstract]

Parent Financial Statements

	January 1, 2012			January 2, 2011
ASSETS
Current assets:
Cash and cash equivalents	$	128,441		$	313,622
Amounts due from subsidiaries	86,965			75,456
Other current assets	9,876			1,250
Total current assets	225,282			390,328
Investments in consolidated subsidiaries	1,814,310			1,791,475
Properties	4			9,408
Deferred income tax benefit and other	64,088			64,985
Total assets	$	2,103,684		$	2,256,196
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Amounts due to subsidiaries	$	88,531		$	63,019
Current portion of long-term debt (a)	1,460			1,368
Deferred income taxes and other current liabilities	2,456			11,813
Total current liabilities	92,447			76,200
Long-term debt (a)	9,843			11,303
Other liabilities	5,325			5,519
Stockholders’ equity:
Common stock, $0.10 par value; 1,500,000 shares authorized;      470,424 shares issued	47,042			47,042
Additional paid-in capital	2,779,871			2,771,126
Accumulated deficit	(434,999		)	(412,464		)
Common stock held in treasury, at cost	(395,947		)	(249,547		)
Accumulated other comprehensive income	102			7,017
Total stockholders’ equity	1,996,069			2,163,174
Total liabilities and stockholders’ equity	$	2,103,684		$	2,256,196

_____________________

(a) Consists of a 6.54% term loan on our owned aircraft in the amount of $11,303 and $12,671 at January 1, 2012 and January 2, 2011, respectively.

SCHEDULE I (Continued)

THE WENDY’S COMPANY (PARENT COMPANY ONLY)

CONDENSED STATEMENTS OF OPERATIONS

(In Thousands)

	Year Ended
	January 1, 2012			January 2, 2011			January 3, 2010
Income:
Equity in income from continuing operations of subsidiaries	$	21,115		$	20,261		$	10,832
Investment income	—			4,913			61
	21,115			25,174			10,893
Costs and expenses:
General and administrative	10,476			8,087			11,568
Depreciation and amortization	627			1,863			1,745
Transaction related and other costs	1,234			—			—
Merger restructuring	—			—			3,008
Other expense (income), net	960			(517		)	(721		)
	13,297			9,433			15,600
Income (loss) from continuing operations before income taxes	7,818			15,741			(4,707		)
Benefit from income taxes	10,094			2,370			10,085
Income from continuing operations	17,912			18,111			5,378
Equity in loss from discontinued operations of subsidiaries	(8,037		)	(22,436		)	(316		)
Net income (loss)	$	9,875		$	(4,325	)	$	5,062

SCHEDULE I (Continued)

THE WENDY’S COMPANY (PARENT COMPANY ONLY)

CONDENSED STATEMENTS OF CASH FLOWS

(In Thousands)

	Year Ended
	January 1, 2012			January 2, 2011			January 3, 2010
Cash flows from operating activities:
Net income (loss)	$	9,875		$	(4,325	)	$	5,062
Adjustments to reconcile net income (loss) to net cash provided by      operating activities:
Equity in (income) loss of subsidiaries	(13,078		)	2,175			(10,516		)
Dividends from subsidiaries	—			443,700			115,000
Tax sharing payments received from subsidiaries	13,078			—			10,417
Other operating transactions with Wendy’s Restaurants, LLC	6,031			8,032			(14,114		)
Share-based compensation provision	1,021			914			1,555
Depreciation and amortization	627			1,863			1,745
Income on collection of notes receivable	—			(4,909		)	—
Tax sharing receivable from subsidiaries, net	(2,437		)	(1,052		)	(65,366		)
Deferred income tax (benefit) provision, net	(10,094		)	(4,027		)	67,241
Other, net	(1,547		)	8			(2,175		)
Changes in assets and liabilities:
Other current assets	491			231			1,467
Other current liabilities	(2,332		)	(4,033		)	(8,951		)
Net cash provided by operating activities	1,635			438,577			101,365
Cash flows from investing activities:
Net repayments from subsidiaries	377			987			31,901
Proceeds from repayment of notes receivable	—			30,752			—
Other, net	—			205			(443		)
Net cash provided by investing activities	377			31,944			31,458
Cash flows from financing activities:
Repayments of long-term debt	(1,368		)	(8,330		)	(889		)
Repurchases of common stock	(157,556		)	(173,537		)	(72,927		)
Dividends paid	(32,366		)	(27,621		)	(27,976		)
Proceeds from stock option exercises	6,359			1,444			1,715
Other, net	(2,262		)	(828		)	(7,633		)
Net cash used in financing activities	(187,193		)	(208,872		)	(107,710		)
Net (decrease) increase in cash and cash equivalents	(185,181		)	261,649			25,113
Cash and cash equivalents at beginning of year	313,622			51,973			26,860
Cash and cash equivalents at end of year	$	128,441		$	313,622		$	51,973