Fair Value Measurements (Tables)

12 Months Ended

Dec. 28, 2014

Fair Value Disclosures [Abstract]

Fair Value, by Balance Sheet Grouping [Table Text Block]

The following table presents the carrying amounts and estimated fair values of the Company’s financial instruments at December 28, 2014 and December 29, 2013:

	December 28, 2014				December 29, 2013
	Carrying Amount		Fair Value		Carrying Amount		Fair Value		Fair Value Measurements
Financial assets
Cash equivalents	$	61,450	$	61,450	$	405,874	$	405,874	Level 1
Non-current cost method investments (a)	4,264		147,760		3,387		130,433		Level 3
Cash flow hedges (b)	—		—		1,212		1,212		Level 2
Financial liabilities
Cash flow hedges (b)	3,343		3,343		—		—		Level 2
Term A Loans, due in 2018 (c)	541,733		540,717		570,625		569,555		Level 2
Term B Loans, due in 2019 (c)	759,758		752,160		767,452		767,452		Level 2
7% debentures, due in 2025 (c)	85,853		104,250		84,666		98,250		Level 2
Guarantees of franchisee loan obligations (d)	968		968		884		884		Level 3

_______________

(a) The fair value of our indirect investment in Arby’s is based on applying a multiple to Arby’s earnings before income taxes, depreciation and amortization per its current unaudited financial information. The carrying value of our indirect investment in Arby’s was reduced to zero during 2013 in connection with the receipt of a dividend. See Note 6 for more information. The fair values of our remaining investments are not significant and are based on our review of information provided by the investment managers or investees which was based on (1) valuations performed by the investment managers or investees, (2) quoted market or broker/dealer prices for similar investments and (3) quoted market or broker/dealer prices adjusted by the investment managers for legal or contractual restrictions, risk of nonperformance or lack of marketability, depending upon the underlying investments.

(b) The fair values were developed using market observable data for all significant inputs.

(c) The fair values were based on quoted market prices in markets that are not considered active markets.

(d) Wendy’s has provided loan guarantees to various lenders on behalf of franchisees entering into debt arrangements for new restaurant development and equipment financing. In addition during 2012, Wendy’s provided a guarantee to a lender for a franchisee in connection with the refinancing of the franchisee’s debt. We have accrued a liability for the fair value of these guarantees, the calculation of which was based upon a weighted average risk percentage established at inception adjusted for a history of defaults.

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

			Fair Value Measurements						2014 Total Losses
	December 28, 2014		Level 1		Level 2		Level 3
Long-lived assets	$	13,618	$	—	$	—	$	13,618	$	19,613
Total	$	13,618	$	—	$	—	$	13,618	$	19,613

			Fair Value Measurements						2013 Total Losses
	December 29, 2013		Level 1		Level 2		Level 3
Long-lived assets	$	14,788	$	—	$	—	$	14,788	$	31,058
Goodwill	—		—		—		—		9,397
Aircraft	8,500		—		—		8,500		5,327
Total	$	23,288	$	—	$	—	$	23,288	$	45,782