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Condensed Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Jul. 01, 2012
Jul. 03, 2011
Cash flows from operating activities:    
Net income $ 9,241 $ 9,857
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 69,558 82,269
Loss on early extinguishment of debt 25,195 0
Amortization of deferred financing costs 2,718 3,509
Net receipt of deferred vendor incentives 12,486 19,764
Accretion of long-term debt 4,148 4,163
Impairment of long-lived assets 7,781 9,820
Distributions received from joint venture 6,694 6,501
Share-based compensation provision 5,164 6,660
Non-cash rent expense 874 4,114
Deferred income tax (benefit) provision, net (3,586) 3,601
Equity in earnings in joint ventures, net (4,914) (5,100)
Gain on sale of investment, net (27,407) 0
Other, net 1,747 (75)
Changes in operating assets and liabilities:    
Accounts and notes receivable (3,115) (5,575)
Inventories 730 (750)
Prepaid expenses and other current assets (6,740) (12,147)
Accounts payable (7,140) 14,604
Accrued expenses and other current liabilities (24,904) (8,616)
Net cash provided by operating activities 68,530 132,599
Cash flows from investing activities:    
Cash capital expenditures (84,079) (55,966)
Restaurant acquisitions (21,779) (6,613)
Franchise incentive loans, net (1,001) 0
Proceeds from sale of investment 24,374 0
Investment in joint venture 0 (1,183)
Proceeds from dispositions 907 2,565
Other, net (564) 147
Net cash used in investing activities (82,142) (61,050)
Cash flows from financing activities:    
Proceeds from long-term debt 619,437 0
Repayments of long-term debt (602,823) (34,768)
Deferred financing costs (15,602) (36)
Premium payment on redemption of Senior Notes (10,093) 0
Repurchases of common stock 0 (37,400)
Dividends paid (15,597) (16,750)
Distributions to noncontrolling interests (3,667) 0
Proceeds from stock option exercises 1,544 3,340
Other, net 52 (119)
Net cash used in financing activities (26,749) (85,733)
Net cash used in operations before effect of exchange rate changes on cash (40,361) (14,184)
Effect of exchange rate changes on cash 230 1,200
Net decrease in cash and cash equivalents (40,131) (12,984)
Cash and cash equivalents at beginning of period 475,231 512,508
Cash and cash equivalents at end of period 435,100 499,524
Supplemental Cash Flow Information:    
Interest 51,678 61,050
Income taxes, net of refunds 8,271 7,018
Supplemental non-cash investing and financing activities:    
Total capital expenditures 99,040 57,055
Non-cash capitalized lease and certain sales-leaseback obligations (1) $ 14,961 [1] $ 1,089 [1]
[1] Includes $14,771 of capitalized lease obligations related to the acquisition of Wendy’s franchised restaurants during the second quarter of 2012 as further discussed in Note 3.