Fair Value Measurements (Tables)

3 Months Ended

Mar. 29, 2015

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:

	March 29, 2015				December 28, 2014
	Carrying Amount		Fair Value		Carrying Amount		Fair Value		Fair Value Measurements
Financial assets
Cash equivalents	$	49,708	$	49,708	$	61,450	$	61,450	Level 1
Non-current cost method investments (a)	6,264		153,708		4,264		147,760		Level 3
Financial liabilities
Cash flow hedges (b)	7,311		7,311		3,343		3,343		Level 2
Term A Loans, due in 2018 (c)	534,510		533,508		541,733		540,717		Level 2
Term B Loans, due in 2019 (c)	757,834		756,650		759,758		752,160		Level 2
7% debentures, due in 2025 (c)	86,153		105,500		85,853		104,250		Level 2
Guarantees of franchisee loan obligations (d)	990		990		968		968		Level 3

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(a) The fair value of our indirect investment in Arby’s Restaurant Group, Inc. (“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. 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						Three Months Ended March 29, 2015  Total Losses
	March 29, 2015		Level 1		Level 2		Level 3
Held and used	$	214	$	—	$	—	$	214	$	1,179
Held for sale	1,218		—		—		1,218		758
Total	$	1,432	$	—	$	—	$	1,432	$	1,937

			Fair Value Measurements						2014 Total Losses
	December 28, 2014		Level 1		Level 2		Level 3
Held and used	$	8,651	$	—	$	—	$	8,651	$	17,139
Held for sale	4,967		—		—		4,967		2,474
Total	$	13,618	$	—	$	—	$	13,618	$	19,613