Stockholders' Equity

12 Months Ended

Dec. 29, 2013

Stockholders' Equity Note [Abstract]

Stockholders' Equity

Stockholders’ Equity

Dividends

During the years ended December 29, 2013, December 30, 2012 and January 1, 2012, The Wendy’s Company paid dividends per share of $0.18, $0.10 and $0.08, respectively.

Treasury Stock

There were 470,424 shares of common stock issued at the beginning and end of 2013, 2012 and 2011. Treasury stock activity for 2013, 2012 and 2011 was as follows:

	Treasury Stock
	2013		2012		2011
Number of shares at beginning of year	78,051		80,700		52,050
Repurchase of common stock	8,720		—		30,983
Common shares issued:
Stock options, net	(8,771	)	(2,079	)	(1,461	)
Restricted stock, net	(202	)	(211	)	(693	)
Director fees	(35	)	(45	)	(42	)
Other	(126	)	(314	)	(137	)
Number of shares at end of year	77,637		78,051		80,700

Repurchases of Common Stock

In November 2012, our Board of Directors authorized the repurchase of up to $100,000 of our common stock through December 29, 2013, when and if market conditions warrant and to the extent legally permissible. During 2013, the Company repurchased 8,720 shares with an aggregate purchase price of $69,167, excluding commissions of $153. The authorization for the repurchase program expired at the end of the 2013 fiscal year.No repurchases were made during the year ended December 30, 2012.

Under the prior repurchase program, which expired at the end of fiscal 2011, our Board of Directors had authorized in aggregate the repurchase of $495,000 of our common stock. During 2011, the Company repurchased 30,983 shares with an aggregate purchase price of $157,014, excluding commissions of $542.

In January 2014, our Board of Directors authorized a new repurchase program for up to $275,000 of our common stock through the end of fiscal year 2014, when and if market conditions warrant and to the extent legally permissible. As part of the repurchase program, the Board of Directors also authorized the commencement of a modified Dutch auction tender offer to repurchase shares of our common stock for an aggregate purchase price of up to $275,000.

On February 11, 2014, the tender offer expired and on February 19, 2014, the Company repurchased 29,730 shares for an aggregate purchase price of $275,000. As a result, the repurchase program authorized in January 2014 has been completed. The Company incurred costs of approximately $1,800 in connection with the tender offer, which will be recorded to “Additional paid-in capital.”

Preferred Stock

There were 100,000 shares authorized and no shares issued of preferred stock throughout 2013, 2012 and 2011.

Accumulated Other Comprehensive (Loss) Income

The following table provides a rollforward of the components of accumulated other comprehensive (loss) income attributable to The Wendy’s Company, net of tax as applicable:

	Foreign Currency Translation			Cash Flow Hedges		Pension			Total
Balance at January 2, 2011	$	7,970		$	—	$	(953	)	$	7,017
Current-period other comprehensive loss	(6,869		)	—		(46		)	(6,915		)
Balance at January 1, 2012	1,101			—		(999		)	102
Current-period other comprehensive income (loss)	6,096			—		(217		)	5,879
Balance at December 30, 2012	7,197			—		(1,216		)	5,981
Current-period other comprehensive (loss) income	(17,000		)	744		(62		)	(16,318		)
Balance at December 29, 2013	$	(9,803	)	$	744	$	(1,278	)	$	(10,337	)

The cumulative gains and losses on these items are included in “Accumulated other comprehensive (loss) income” in the consolidated balance sheets and consolidated statements of stockholders’ equity.

Restricted Net Assets of Subsidiaries

Restricted net assets of consolidated subsidiaries were approximately $975,000, representing approximately 51% of The Wendy’s Company consolidated stockholders’ equity as of December 29, 2013 and consisted of net assets of Wendy’s which were restricted as to transfer to The Wendy’s Company in the form of cash dividends, loans or advances under the covenants of the Restated Credit Agreement.

Dividends paid to The Wendy’s Company from its subsidiaries totaled $170,000 in 2013. No dividends were paid in 2012 or 2011.