(13) Fair Value of Financial Instruments (Tables)

12 Months Ended

Jan. 01, 2012

Fair Value of Financial Instruments [Abstract]

Carrying amounts and estimated fair values of financial information for fair value disclosure



	Year End 2011
	Wendy’s Restaurants		Corporate		The Wendy’s Company
Financial assets
Carrying Amount:
Non-current cost investments	$	22,832	$	4,620	$	27,452
Interest rate swaps	11,695		—		11,695

Fair Value:
Non-current cost investments (a)	$	25,794	$	36,702	$	62,496
Interest rate swaps (b)	11,695		—		11,695



	Year End 2010
	Wendy’s Restaurants		Corporate		The Wendy’s Company
Financial assets
Carrying Amount:
Non-current cost investments	$	3,775	$	4,817	$	8,592
Interest rate swaps	9,623		—		9,623

Fair Value:
Non-current cost investments (a)	$	5,555	$	14,540	$	20,095
Interest rate swaps (b)	9,623		—		9,623



	Year End
	2011				2010
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Financial liabilities
Long-term debt, including current portion:
Senior Notes (c)	$	554,901	$	621,500	$	553,258	$	620,370
Term Loan (c)	466,062		466,940		495,226		505,000
6.20% senior notes (c)	224,643		231,750		217,855		229,500
7% debentures (c)	82,342		84,000		81,204		86,500
Capitalized lease obligations (d)	15,222		16,431		86,670		91,015
Sale-leaseback obligations (d)	1,466		1,692		121,884		128,171
Other	1,060		1,072		3,634		3,806
Total Wendy’s Restaurants long-term debt, including current portion	1,345,696		1,423,385		1,559,731		1,664,362
6.54% aircraft term loan (d)	11,303		11,367		12,671		13,010
Total The Wendy’s Company long-term debt, including current portion	$	1,356,999	$	1,434,752	$	1,572,402	$	1,677,372



Guarantees of:
Franchisee loans obligations (e)	$	1,275	$	1,275	$	373	$	373

_______________

(a)

The fair value of our investment in Jurlique was based upon an agreement with a third party to purchase Jurlique. The fair value of our indirect investment in Arby’s is based on the fair value as determined in connection with its sale in July 2011. The fair value of the remaining investments was based entirely on statements of account received from investment managers or investees which were principally based on quoted market or broker/dealer prices. To the extent that some of these investments, including the underlying investments in investment limited partnerships, do not have available quoted market or broker/dealer prices, the Companies relied on valuations performed by the investment managers or investees in valuing those investments or third-party appraisals.


(b)	The fair values were based on information provided by the bank counterparties that is model-driven and whose inputs were observable or whose significant value drivers were observable.


(c)	The fair values were based on quoted market prices.


(d)	The fair values were determined by discounting the future scheduled principal payments using an interest rate assuming the same original issuance spread over a current U.S. Treasury bond yield for securities with similar durations.

(e)

Wendy’s provided loan guarantees to various lenders on behalf of franchisees entering into pooled debt facility arrangements for new store development and equipment financing. Wendy’s has accrued a liability for the fair value of these guarantees, the calculation for which was based upon a weighted average risk percentage established at the inception of each program adjusted for a history of defaults.

Financial assets and liabilities (other than cash and cash equivalents) measured at fair value on a recurring basis



			Fair Value Measurements
	January 1, 2012		Level 1		Level 2		Level 3
Interest rate swaps (included in “Deferred costs and other assets”)	$	11,695	$	—	$	11,695	$	—

Fair value of assets and liabilities (other than cash and cash equivalents) measure at fair value on a nonrecurring basis



			Fair Value Measurements						2011 Total Losses
	January 1, 2012		Level 1		Level 2		Level 3		2011 Total Losses
Properties	$	575	$	—	$	—	$	575	$	10,120
Other intangible assets	—		—		—		—		2,763
	$	575	$	—	$	—	$	575	$	12,883



			Fair Value Measurements						2010 Total Losses
	January 2, 2011		Level 1		Level 2		Level 3		2010 Total Losses
Properties	$	250	$	—	$	—	$	250	$	21,201
Other intangible assets	—		—		—		—		5,125
	$	250	$	—	$	—	$	250	$	26,326

Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Table Text Block]



	2011			2010			2009
Interest income:
Interest rate swaps (a)	$	(5,611	)	$	(7,880	)	$	(2,865	)
Total Wendy’s Restaurants	(5,611		)	(7,880		)	(2,865		)
Investment income, net:
Put and call option combinations on equity securities	—			—			(286		)
Total The Wendy’s Company	$	(5,611	)	$	(7,880	)	$	(3,151	)

_____________________


(a)	2010 includes a gain of $1,875 on the cancellation of four interest rate swaps discussed above.

- Definition

Tabular disclosure of assets and liabilities by class, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). The disclosures that may be required or desired include: (a) the fair value measurements recorded during the period and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets or liabilities (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset.

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- Definition

Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

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- Definition

Tabular disclosure of the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments, assets, and liabilities. Such certain disclosures about the financial instruments, assets, and liabilities include: (1) the fair value of the required items together with their carrying amounts (as appropriate) and (2) the methodology and assumptions used in developing such estimates of fair value.

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- Definition

Tabular disclosure of the location and amount of gains and losses reported in the statement of financial performance, or when applicable, the statement of financial position. For example, (a) gains and losses recognized in the income statement on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges and (b) gains and losses initially recognized in other comprehensive income on derivative instruments designated and qualifying as cash flow hedges.

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