Quarterly Financial Information (Unaudited)

The tables below set forth summary unaudited consolidated quarterly financial information for 2015 and 2014. The Company reports on a fiscal year typically consisting of 52 or 53 weeks ending on the Sunday closest to December 31. During 2015, the Company’s first, second and third fiscal quarters contained 13 weeks and the Company’s fourth quarter contained 14 weeks. All of the Company’s fiscal quarters in 2014 contained 13 weeks. As discussed in Note 2, on May 31, 2015, Wendy’s completed the sale of 100% of its membership interest in the Bakery. Bakery results for all periods presented through its May 31, 2015 date of sale are classified as discontinued operations. In addition, certain reclassifications have been made to prior year presentation to conform to the current year presentation related to the Company’s system optimization initiative. See Note 1 for further details.



	2015 Quarter Ended
	March 29 (a)		June 28 (a)		September 27 (a)			January 3 (a)
Revenues	$	451,769	$	489,534	$	464,629		$	464,365
Cost of sales	305,111		315,122		291,524			272,316
Operating profit	37,911		64,308		55,939			116,312
Income from continuing operations	18,150		24,825		8,323			88,681
Net income (loss) from discontinued operations	9,357		15,370		(739		)	(2,825		)
Net income	$	27,507	$	40,195	$	7,584		$	85,856
Basic income (loss) per share:
Continuing operations	$	.05	$	.07	$	.03		$	.32
Discontinued operations	.03		.04		—			(.01		)
Net income	$	.08	$	.11	$	.03		$	.31
Diluted income (loss) per share:
Continuing operations	$	.05	$	.07	$	.03		$	.32
Discontinued operations	.03		.04		—			(.01		)
Net income	$	.07	$	.11	$	.03		$	.31



	2014 Quarter Ended
	March 30 (b)		June 29		September 28 (b)		December 28 (b)
Revenues	$	508,450	$	506,079	$	496,670	$	487,303
Cost of sales	363,365		335,141		332,645		323,935
Operating profit	87,274		61,169		44,244		49,901
Income from continuing operations	45,009		27,327		21,133		22,955
Net income from discontinued operations	1,294		1,680		1,697		339
Net income	$	46,303	$	29,007	$	22,830	$	23,294
Basic income per share:
Continuing operations	$	.12	$	.07	$	.06	$	.06
Discontinued operations	—		—		—		—
Net income	$	.12	$	.08	$	.06	$	.06
Diluted income per share:
Continuing operations	$	.12	$	.07	$	.06	$	.06
Discontinued operations	—		—		—		—
Net income	$	.12	$	.08	$	.06	$	.06

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(a)

The Company’s consolidated statements of operations were materially impacted by system optimization gains, net, reorganization and realignment costs, impairment of long-lived assets and loss on early extinguishment of debt. The pre-tax impact of system optimization gains, net for the second and fourth quarters of 2015 was $15,654 and $59,258, respectively (see Note 3 for additional information). The pre-tax impact of reorganization and realignment costs for the first, second, third and fourth quarters of 2015 was $4,613, $6,279, $5,754 and $5,264, respectively (see Note 5 for additional information). The pre-tax impact of impairment of long-lived assets during the second and fourth quarters of 2015 was $10,018 and $11,533, respectively (see Note 17 for additional information). The pre-tax impact of loss on early extinguishment of debt during the second quarter of 2015 was $7,295 (see Note 12 for additional information). Additionally, the Company’s consolidated statements of operations were materially affected during the fourth quarter of 2015 by a $54,911 dividend from our investment in Arby’s, which was recognized in investment income, net (see Note 18 for additional information).

(b)

The Company’s consolidated statements of operations were materially impacted by system optimization gains, net, reorganization and realignment costs and impairment of long-lived assets. The pre-tax impact of system optimization gains, net for the first and fourth quarters of 2014 was $72,977 and $17,483, respectively (see Note 3 for additional information). The pre-tax impact of reorganization and realignment costs for the first and fourth quarters of 2014 was $14,711 and $14,527, respectively (see Note 5 for additional information). The pre-tax impact of impairment of long-lived assets during the third and fourth quarters of 2014 was $8,618 and $8,389, respectively (see Note 17 for additional information).