Parent Financial Statements Parent Financial Statements (Tables)

12 Months Ended

Dec. 29, 2013

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Parent Balance Sheet

	December 29, 2013			December 30, 2012
ASSETS
Current assets:
Cash and cash equivalents	$	179,916		$	102,652
Amounts due from subsidiaries	185,695			71,688
Other current assets	99,039			26,328
Total current assets	464,650			200,668
Investments in consolidated subsidiaries	1,687,364			1,839,344
Properties	—			6,102
Deferred income tax benefit and other	—			42,692
Total assets	$	2,152,014		$	2,088,806
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Amounts due to subsidiaries	$	157,372		$	92,384
Deferred income taxes and other current liabilities	1,540			2,067
Total current liabilities	158,912			94,451
Deferred income taxes	53,920			—
Other liabilities	9,696			8,500
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	2,794,445			2,782,765
Accumulated deficit	(492,215		)	(467,007		)
Common stock held in treasury, at cost	(409,449		)	(382,926		)
Accumulated other comprehensive (loss) income	(10,337		)	5,981
Total stockholders’ equity	1,929,486			1,985,855
Total liabilities and stockholders’ equity	$	2,152,014		$	2,088,806

Parent Income Statement

	Year Ended
	December 29, 2013			December 30, 2012			January 1, 2012
Income:
Equity in income from continuing operations of subsidiaries	$	21,116		$	29,708		$	21,115
Costs and expenses:
General and administrative	10,381			10,911			10,476
Depreciation and amortization	1,272			1,975			627
Facilities action charges, net	330			5,327			1,234
Impairment of long-lived assets	1,830			1,628			—
Other (income) expense, net	(23		)	953			960
	13,790			20,794			13,297
Income from continuing operations before income taxes	7,326			8,914			7,818
Benefit from (provision for) income taxes	38,427			(3,340		)	10,094
Income from continuing operations	45,753			5,574			17,912
Equity in (loss) income from discontinued operations of subsidiaries	(266		)	1,509			(8,037		)
Net income	$	45,487		$	7,083		$	9,875

Parent Comprehensive Income

	Year Ended
	December 29, 2013			December 30, 2012			January 1, 2012
Net income	$	45,487		$	7,083		$	9,875
Other comprehensive (loss) income, net:
Foreign currency translation adjustment	(17,000		)	6,096			(6,869		)
Change in unrecognized pension loss, net of income tax benefit (provision) of $37, $127 and $(21), respectively	(62		)	(217		)	(46		)
Unrealized gain on cash flow hedges, net of income tax provision of $468	744			—			—
Other comprehensive (loss) income, net	(16,318		)	5,879			(6,915		)
Comprehensive income	$	29,169		$	12,962		$	2,960

Parent Cash Flow Statements

	Year Ended
	December 29, 2013			December 30, 2012			January 1, 2012
Cash flows from operating activities:
Net income	$	45,487		$	7,083		$	9,875
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in income from operations of subsidiaries	(20,850		)	(31,217		)	(13,078		)
Other operating transactions with Wendy’s Restaurants, LLC	4,988			28,733			6,031
Depreciation and amortization	1,272			3,078			627
Impairment of long-lived assets	1,830			1,628			—
Share-based compensation	1,552			944			1,021
Tax sharing payments received from subsidiaries	—			37			13,078
Amortization of deferred financing costs	—			21			—
Deferred income tax	80,161			(4,118		)	(10,094		)
Tax sharing receivable from subsidiaries, net	(119,249		)	—			(2,437		)
Dividends from subsidiaries	170,000			—			—
Other, net	1,439			1,753			(1,547		)
Changes in operating assets and liabilities:
Other current assets	10,305			(472		)	491
Other current liabilities	(2,040		)	8,643			(2,332		)
Net cash provided by operating activities	174,895			16,113			1,635
Cash flows from investing activities:
Net repayments from subsidiaries	—			—			377
Other, net	—			686			—
Net cash provided by investing activities	—			686			377
Cash flows from financing activities:
Repayments of long-term debt	—			(11,303		)	(1,368		)
Repurchases of common stock	(69,320		)	—			(157,556		)
Dividends	(70,681		)	(39,043		)	(32,366		)
Proceeds from stock option exercises	42,370			7,806			6,359
Other, net	—			(48		)	(2,262		)
Net cash used in financing activities	(97,631		)	(42,588		)	(187,193		)
Net increase (decrease) in cash and cash equivalents	77,264			(25,789		)	(185,181		)
Cash and cash equivalents at beginning of year	102,652			128,441			313,622
Cash and cash equivalents at end of year	$	179,916		$	102,652		$	128,441